The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1913-01-22
Government Hearing Resumed Today
with First Session Held in
office Of Colonel
Roosevelt
REPORTERS ADMITTED
Story Told Stanley Committee WaE
Repeated and Former Testimony
Of Ex-Presldent 10
Admitted.

UNITED Press Leased Wire Service.1
NEW YORK, Jan. 22.--When tho
government suit to dissolve the steel
trust was resumed today before Ref
cree Henry P. Brown, 1t was tempor-
arily transferred to the Outlook OFF,
ces, SO that Colonel Theodore Roose-
velt could again repeat the reasons
why he permitted the trust to absorb
the Tennessee Coal and Iron Conn
pany during the panic Of 1907 Roose.
velt at first insisted that the hearing
must be private with only the referee.
lawyers and himself present, but final-
lly he consented to the representa-
tivcs OF the press associations being
admitted to his private office, where
the inquiry progressed.
Defiantly defending his approval
while president Of the merging Ten
nessee Coal and Iron Company with
the steel trust as necessary to check
the ow-historical panic Of 1907, Col.
Theodore Roosevelt today declared
that he had never seen any reason to
believe 1t was not wise action.
! Those were panic times, Judge
Dickinson" solemnly and impressive
lily declared the ex-president, "and the
J men who advised me that necessity
. required that the steel corporation
] take over the Tennessee. corporation
were giving me the best information
81 they possessed. 1t was a matter OF
: life and death to them. The financial
wrecking or salvation OF the country
, depended on the accuracy of that In
formation. 1t showed me beyond the
question of doubt that the Tennes-
see Coal and Iron Company never
could be developed unless taken over
, by competent hands and none Of the
, facts you have alleged-(that the
, trust made its control OF the industry
, absolute, by the amalgamation) had
, they been known to me at the time
. would have influenced me in the
least. The Judgment In expert finan-
cial circles in the time of panic was
what influenced me and nothing that
you have stated concerning prior ac-
ouisition of other competing COM
: panies by the steel corporation had
the slightest effect on my decision or
could have had was dealing with
a panic and was convinced that what
! did was necessary to prevent wide
spread disaster to the people of the
country"
Roosevelt was the star witness at
: today's session Of the suit before Ref.
= cree Brown to dissolve the steel trust
I because 1t is alleged by the govern
: ment to violate the antitrust law
: His entire testimony as Resented to
- the Stanley committee was reaffirm
I ed and incorporated as evidence. AZ
3 ter it had become part Of the pro
a. ceedings Attorney Lindabury, for the
10 trust. got into the record that 1t was
Z Roosevelts opinion at the time and
. was still that the merger was Justified
Then former Secretary OF War Jacob
y M. Dickinson, for the government
tried to show that Roosevelt was un
familiar with the extent OF the domi
nation Of the steel trade by the trust
4 But Roosevelt would have none O
le this Admitting that he knew the
5e trust at the time 1t took over the T
1f G. I. controlled sixty percent of thu
s. steel business Of the nation, Roose
v, welt insisted that this control diminish
g, ed very materially.
it. Conditions at the time approved
,r- this transaction" said Roosevelt, no
ic alone In New York, but all over tn
country demanded careful attention
de and action and believed, and now be
.e- -----------------------
o I