The Birmingham age-herald., 1914-01-11

piiiNiAis Will 50 IIOtn TINS tltN to
New Orleans, where some additional evi-
dehce will be introduced before Examiner
Brown, whereupon the court will leave
Tor St Louis. At the latter place Judge
Jacob Nj. Dickinson, former Secretary of
War and special counsel for the gov
ernment in the Steel investigations will
Join the party and succeed Harry Col
ton as prosecuting attorney fon the gov
ernment in this case
Shook First Witness
The inquiry yesterday was devoted to
the testimony of Pasohal Shook. j. ID.
Moore Rush Simpson, John w. Converse
OF Chattanooga and Clinton Hunt of
Memphis Mr. Shook testimony was con-
siuered the most import ant of the day for
the reason that he is a widely informed
Industrial man, former selieral manager
OF the Tennessee Coal Iron and Railroad
company and was the first general man
aser to produce steel at Ensley. The wit
nesses all agreed that the competition as
tc steel orders and other commodities
made by the Tennessee Coal Iron and
Railroad company is as keen at this time
as before the acquisition of the Tennes-
see Coal, Iron and Railroad company by
TIE corporation and the subsequent loca-
ton here of the American Steel and Wire
company.
Mr. Shook said that in his opinion the
acquisition of the local properties by the
tennessee Coal, iron and Railroad COM
pany was not monopolistic in character.
His examination on that point was as fol-
lows:
@. Having knowledge Of the affairs of
the Tennessee company, did you regard,
or do you now regard. the purchase of
the Tennessee company by the United
States Steel corporation as monopolistie?
A. l do not consider it.
@. For what reason or reasonsp A II
Is a matter of common knowledge that
there are very extensive ore holdings of
various large corporations in this district.
some of the mowning considera IDLY more
ore of certain grade than the Tennessee
Coal, Iron and Railroad company owns
In amplifying that answer should say
that in 1904, when a movement was on
foot to consolidate several of the large
companies in this district an appraisal
committee was appointed, consisting of
I. II. Aldrich, j. w. Worthington. Mr..
Perrin and Mr.. Given. to investigate care
fully all properties of these various COM
panies and make a report on the ore hold
ings. The finding of that committee
showed that so far as brown ore was con-
cerhed, the Republic company had as
much as the Tennessee Coal, Iron and
Railroad company. and that the Sloss-
Sheffield Steel and Iron company had
more than twice as much.
Large Individual Holdings
Q. Now, you have spoken of large guam
titles of ore being owned by these other
furnace companies. DO you know whether
or not there are large quantities of steel
in the market and not held by any fur
mace company? A. Yes, large individual
holdings on Red mountain and in Shades
valley.
c. From the standpoint of a customer in
the south, buying steel as you do have
you felt that the purchase of the Ten
nessee company by the United States
Steel corporation has worked harm to
you? A. Not in the least; no, sir.
@. Has it been of any benefit to you?
A. | think it has to all consumers of steel
and to the community at large vastly
beneficial.
" w nat are your reasons Tor tnat state
ment? A. On account of the very exton-
sive development of the properties which
had never taken place before; the proper
ties of the Tennessee Coal, Iron and Rail-
road company have been more fully and
intelligently developed within the last
seven years under the ownership of the
United States Steel corporation than had
been done in the previous DO years.
O. How about the quality of the product
of the Tennessee company? Has there
been an Improvement or a deterioration?
A. A marked Improvement under the
management of the present officials of
the Tennessee Coal, Iron and Railroad
company.
On cross-examination, Mr. Shook testi
fled of the organization of the firm of
Shook & Fletcher saying that his firm
at first sold light and rolled rails and
that the prices they received FOR such
commodities was on competitive bids. IL
named all of the companies that made
bids upon request for the commodities he
purchased, and said that in his opinion
the Steel corporation was eminently fair
and unbiased in its relations with the
district when it is a matter of selling.
He gave 1t as his opinion that entire fair
ness was manifested and said that from
all he could gather there was no COM
bination to maintain minimum prices or
any agreement whatever in reference to
the steel prices.
Converse Testifies Next
Austin b. Converse of Chattanooga,
president and general manager of the
Price Evans Foundry company, was ex-
amined AFTER Mr.. Shook. He said his
company was engaged In the manufacture
of architectural and ornamental iron work
and structural steel fabricated. Mr.. Con-
verse gave the names of the various steel
companies that made bids for his orders.
He said he did most Of the buying. Mr.. |
Converse said that there was a variation
in prices quoted from time to time and
that there was nothing in the prices
quoted that would Indicate to his firm
that there was any combination duringl
the period that he had been using bars.