Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-04-13
COMMON IS
CLOSELY WATCHED
Dissolution Suit, Death of Nor
gan and Proposed Tariff Are
Testing Its Strength.
BY BoERsIANER.

Chicago, April l2-Steel common
is the cynosure of investors eyes. II
now is followed with intense interest
! nationally and internationally.
To the suit for dissolution brought
by the Government there have been
added by way Of crucial tests the
tariff bill and the passing of J. Pier
pont Morgan.
The stock is acting well-the re-
suit not of artificial maintenance. or
"support"-but of natural or unsup-
ported strength. The cpmpany's
200. 000-odd shareholders have undi-
minished faith in their property evil
IDENTIFY. Notwithstanding the formida
Die trials to which il will be sub
jected.
What effect the tariff (assuming
that the steel and iron schedule viii
pass without change) will have on the
earnings of the corporation is at once
large and intricate question. The
company does everything from min
ing iron ore to manufacturing arti-
Giles of steel which one is tempted
to call artistic articles.
NO INFANT INDUSTRY.
Broadly viewed, the steel and iron
trade is not an infant industry in the
United States. II does not need the
first steps protection upon which
even agnostic proteCtionists insist
The Carnegie Steel Company-the
dorsal column Of the steel corpora e
tion-prospered under all kinds Of tar
| iffs-high, low and neutral But, oil
course, the capital stock of the Car
negie Steel Company was very small
and in few hands.
Another important consideration is
the amicable understanding between
American and European ironmasters
How binding and intimate the "tacit'
agreement is contectural II may be
contingent upon the mutual prospect
~ of the plants on either side OF the
Atlantic. So long as business Is good
and profitable there may be no inva f.
sion of one another's territory; that
is 1t may be only fair weather COM
pact Whatever the terms-if terms
there bet is too early to go into
the tariff as Il shall pertain TO the
iron trade in general and to the
United States Steel Corporation par
| ticularly
WHO WILL BE Boss7
More directly and Immediately vital
Is the problem Of Morgan's success
sor. All the world knows that the or
ganizer of the Steel Corporation was
its virtual manager. After the Rock
efeller interests retired Morgan
dominance was absolute In all para
mount matters his word was final
Gary was "A first rank general In one
way and Farrell in another. but both
took the big orders from Morgan.
Gary is recognized as Morgan's
Logical" successor. but logic does NOT
always come into its own where there
Is a George F. Baker Harry c. FriclS
and a Moore and a Reid on the di-
rectory. Prick. more than any one on
the board, is likely To dispute Gary's
supremacy. He Is forceful and ambi-
tious-and headstrong and opinion
ated in many things He quit the
Union Pacific directorate because his
Views were not shared by the leading
factors there.
Tricks opposition to Gary-now
! that Morgan is no more-may have
additional force, In that Tricks spe-
cialty is the iron industry. He Sas
literally brought up In an iron Eii!l
and for years was Carnegie's arst
lieutenant.
Since those days he has accumu-
lated a vast amount Of money He
is very probably Weather than Gary,
whose fortune Is estimated at $40
100000. But Gary has some valua-
BILE advantage over Frick. he pos
sesses unerring tact is a sklllful diplo-
matist; has an unfailing self posses
sion which never permits temper TO
escape; which means. in essence, that
he knows how to handle men in all
stations of life. including politicians
and statesmen