The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1920-04-19
U. S. STEEL
IN WAR ON
HIGH COSTS
Prices Held Down Be.
cause Of H. G. L., Gary
Tells Owners.

New York, April 19.-Elbert H.
Gary, chairman of the United States
Steel corporation, informed the
stockholders at the annual meeting
in Hoboken today that the corpora
ton was holding down the prices of
its products because of the high
cost of living.
Referring to inquiries made by
stockholders as to why the prices
OF the corporations products had
not been raised above those fixed
by agreement between the indus
trial board and steel manufacturers
on March Il. 1919. he said:
1t seems to us the problem Of
high cost of living is of convincing
importance. When the increasing
tendency is to insist upon payment
OF unreasonable sums for every
commodity and for every service, SO
that the vicious whirl of advance
ment seems to be unending, we
think there is moral obligation On
the part of every one to use all rea-
sonable efforts to check this car
nival of greed and imposition, even
at some sacrifice.
Champions Wage Garner.
There is growing discrepancy
between different individuals and
interests. The man with a fixed in
come is at disadvantage and is
helpless. He can not increase his
income to meet the increased cost
of living. Therefore. it should be
the first effort of all to establish
and maintain a reasonable basis OF
prices, certainly to prevent further
increases; otherwise the govern.
meHt. from the standpoint of pro-
lection of the public must inter,
flers''
The attitude of the corporation
on prices. Mr. Gary added. "ha;
had considerable influence in pre-
venting increases in the genera
selling prices of steel, although
some tmanufacturers) have made
them as they claim to have sus
tanned increased cost Of manufac.
ture.
Moreover. it is believed the sell
ing prices of most Of the diversified
products of the. corporation for ths
present, are high enough, though i
is pertinent to say that when the
actual value of the properties ant
volume of business are considered
the net return is at least moderate.
Disagree Over Time.
Mr.. Gary said much thought ha(
been given to the problem o.
shorter hours for the corporation
employees. but that workmen were
not satisfied with short days i
larger pay could be obtained b,
working longer days.
Reviewing last years steel strike
Mr.. Gary announced that the cor.
poration would continue to main
tain the open shop.
I'VE stand" he said. "for tht
open shop, which permits a man tt
work when and where he pleases
on terms mutually agreed upon
whether he does or does not belong
to labor union.
I'VE do not combat labor unions
as such. We. Of course, acknowl
edge the natural right of labor 4
organize: but we insist that labo!
organization should be subjected (
governmental control and regula
| ton, like other organizations. Dis
elimination by law in favor of u
against any particular class is der
rimental to the interests of tht
general community.
Trust Denia' Satisfactory.
Mr.. Gary said that public ap
proval of the recent decision of tn
United States supreme court, refus
! ing 10 dissolve the steel corpora
ton, was practically universal an,
added in this connection:
so far as the corporation and it
subsidiaries are concerned, VI
shall not disregard the laws of tn
county or the public interest"
! 1t had been the ambition Of TIL
manager OF the corporation, he con
cluded. to prove that corporation
may be possessed of mind, hear
and soul.