Every evening, Wilmington daily commercial., 1920-04-19
U,S,STEEL HEAD RAPS
| BIG BUSINESS GREED
Gary Explains Why Price OF Cor
poration's Products IS
Not Higher.
nv Associated pross 20 Every Evening

| By Associated Press 20 Every Evening
New York, April ig-kibert II. Gary,
| chairman Of the United States steel 'or-
| poration informed the stockholders at
| the annual meeting IN iloboken today
| that the corporation was holding down
! the prices of its products bceause OF the /
| high cost of living.
| lettering 10 inquiries made by stock
/ holders as to why, in view OF the great
| demand. the cost Of production and
| priecs received by other manufacturers 1
| the price OF the cofporation's $ products had |
| not been raised above those fixed by agree.
ment between the industrial board ana |
manufacturers on March u, 1919, he /
| said
ut seems TO Us the problem of high |
cost OF living is of convincing importance.
| When the increasing tendency Is 20 insist |
| upon payment of unreasonable sums Tor
| every commodity and for every service, so
| that the vicious whirl of advances seems
10 be subsidiug, we think there ls moral
obligation on the part OF ever one of us
20 Use all reasonable efforts to check
this carnival of greed and imposition,
even at some sacrifice.
There is q growing discrepancy be
tween different industrials; the income man
is more and more 'disadvantaged as he
cannot increase his income to meet the
Increased cost of living Therefore It
should he the effort Of al to establish
and maintain n reasonable basis Of prices;
certainly 10 prevent further increases;
otherwise the government, from the
! standpoint of protection OF pnrt OF the
public must interfere.
The attitude Of tho corporation on
nrice4 Mr.. Gary added, has had con-
siderable influence in preventing increases
in the general selling prices Of steel. Al
though some '(manufacturers) have, that
as tho claim, 10 increased cost OF manu-
facture
Moreover. II is believed that IN vlcw
oF all tho conditions prevailing, the selling
prices of most Of tho diversified products
: Of the corporation for tho present ~ least,
: arc high enough, though it IS pertinent -
say that when tho actual value oi the
u roperties and volume of business of the
. | corporation arc considered the net re-
| turn Is AZ least moderate
Mr.. Cary said much thought had been
:. given Ia the question Of shorter hours for
. | the corporation employees but that work
' men were not satisfied with short days #
! larger ray could he obtained by working
! longer DAYS.
Those who sometimes suggest there
might be fewer hours" he said, do not
offer n feasible plan for maintaining CON
tinuous operations under short day
service. especially IN view Of the fact that
tho men themselves will not submit to Il
, unless they are paid compensation for
short days equal to the full 2mount
which has been paid for longer days. 20
far as the workmen are concerned they
are not satisfied with short days if larger
o pay per day can be secured by working
longer days. II has occasionally been lrg-
al that ue should establish the universal
rule of short davs and compel our men 20
observe them against their objections
\ Needless to say the suggestions, like
: many others relating 10 labor are offered
4 bv those who have never had any ex-
:, tcricnrc in the employment Of consider
!. | able numbers
Reviewing last years steel strike, Mr..
Gary announced that the corporation
: would continue to maintain the open shop
: eve stand he said. for the open
: shop. which permits man to work when
: and where III. neases on terms mutually
. agreed upon. whether he does or does not
. belong to a labor union. Our men general
= ~ do not belong to labor unions because
= thct know BY long experience It Is to then
- advantage 10 be free from dlctation hS
:. outsiders. that they are receiving as larg'
:. or larger compensation and as good 81
better conditions for themselves and thei
:, farnllies as would be provided under labo
= union domination.
- We want 10 maintain a small iunC
:. TO improve these conditions. We believ'
,e and we think the general public IS Of tn
same opinion, that the welfare of mankIn(
80 will not be promoted by the one hil
N union and the organization of the entir
- country, under the control and arbitrar,
=. direction Of an organized minority.
nc We don't combat labor unions a
h. such. We of course acknowledge tn
- natural right of labor to organize, but "
10 insist a labor union should be under gov
- ernmental control. like other unions. Dis
N elimination by law in favor or against an.
of particular class Is detrimental TO the in
terest Of the general community. Thes
~ are fundamental principles OF our gov
IN ernment.
bo During the strike, Mr.. Gary said
Mt about 26 per cent of the corporation ) EN-
nj ployes were out for a short time. He praise
rs the loyalty of the most of the employees
" saying that scores of thousands wer
nv good workers. The men remained ut wor
nd 70 supply the war necessities OF the coun
zee try
,r- On the subject Of employment discus
en- sion, management and employees, he sal
raj that no better plan than the corporation
had been tried. while he has learned Of th
failure of other plans. any employe of IN
he said, was at liberty at all times
present questions to the officials for dI
- cussion.
." MIR Gary said that public approval c
the recent decision TO dissolve the ste'
an strike was practically unanimous.
on So far as the corporation and ITS sui
zen salaries are concerned we shall not On
ae regard the laws OF the country or the publ
ot interests.
nal 1t has been the smbition Of the mans
-tN ger OF the corporation, he concluded,
M prove that a corporation may be con
OF posed of men that are interested hea
tor and soul
Replying to many letters from stool
cry holders asking why dividends on the cor
ast mon stock were not increased, Mr. Ca
i.i said that the management desired to &c
tie the intrinsic value of the stock regardle
s. of stock exchange quotations, and tn
eit sooner or later would be reflected in j
creased selling prices
lsy l.. L. Campbell, newspaper editor
ars. Alton, ILL.,. and stakeholder, was a
Tor plauded at the meeting when he said tn
ems sentiment of the people in this section
les: the country was that Judge Gary shou
be President of the United States.
The stockholders elected W. j. philhe
Samuel Mather, Thomas Morrison al