Show I DIRECTOR Of STEEL TRUST TAKES STAND SIANO Testifies s as to Organization ci of American Tin rin Plate Company I N NEW W YORK May fa May IB Daniel ri D Daniel ui I GReid GReid G Reid the railroad financier a director in th the United States Steel co corporation and wod a member of its ita finance committee committee commit commit- tee was called as a a. witness wit a at the re rc toda today of ot tJ tb hearing hearin in th the governments government's suit to dissolve the tho o corporation corporation cor cor- cor- cor tion before Commissioner e Brown Mr r. r Reid i is the fir first t defend defendant nt to ap rip- pear on thi n tJ e stand Mr rr Re Reid d was asked to testify concerning con con- th the J anh of the National Nation al St Steel eJ the American Tin Plate Pate th the I American n Steel H Hoop Hp p and the American America an Sheet l companies ies in which Mr fr Rid Reid fo Together with William H. H Moore Moor n and d J J. H H. H i Moore w were Ivero c the dominant dominan factors before b the concerns concerns' were taken take into the s called so-called tru trust t n Reid id and Wil Wile liam Ham H. H Moore both became directors director of ot the thc c corporation tion on tho absorption o otheir of their companies and have ha been bern so BO ever eve ever since The Tho government o contends that tha nil all four companies were themselves il illegal ii- ii legal combinations Mr Uro R id gave Il e his bis business as chairman chair m roan man n of the Rock Island r Pacific railway He lie said he be W was 6 a stockholder stockholder stock stock- ll holder lder of the United States States- Steel cor corporation corporation but declined to say h much how much stock ho lie held He said ho no had hada exchanged exchanged ex ex- ex- ex changed his bis holdin holdings in tho American Amerian a Tin Plato Plate company for steel corporation oration stock stoel Mr R Reid id was asked to describe com competitive conditions amon among tho the constituent ent companies of the American Tin Plato Plata company before its organization n in 1908 Did Did yoa Did you you t take ke part in ut tho or tion of th the Tin Plato company asked Judge e Dickinson of tho the government counsel Oh Ob y yes II With whom did you u consult I. I 1 Moore Had Reputation Jud Judge o Moore Ho had a a. reputation as an organizer Were ere your our tin comp companies nies- nies cn engaged in n I-n any poolS 1 1 I u Notto otto my J knowledge owl d o. o witness es ore an e a. a tIon Uon THal t the tho tin hu plate makers makers' bad baa met vel yent year to fix the 5 sched schedule ule of employees but these meetings I had nothing to do with fixin fixing prices Thirty nine plants operating two h nun hun n mills were taken into the tin tinplate I plate c company he be said which represented represented about bo t 90 00 per cent of tho tinplate tin tinplate tinplate plate i industry I 1 c So Sq far tar as yoo you know did anybody dy 1 flet ot ca b for loi his bs stock Judge o Dickin Dick in jason on asked r I I dont don't know They Ther could have havo avo lot cot cash eash if they wanted lt it I know now I r ot stock for fori mino mine two for one ono on share of f common aud and ODe one of preferred of the American Americ n Tin Plato PInto company compan Ic I- I c all these mills had bad been I oaid cash what bat would the value Intro havo amounted to to I I 1 dont don't know kuo common and pr preferred stock of the American t Tin Plato company go o to the tho owners of those these mills for fir their coin coin- mon stock al aI alone no l' l I Mr Reid said Mid he hc had c a bargain with the syndicate managers for what t he be was Wa as going ohl to get et for holdouts 8 in his own company the Elwood Tin PJ Piot lo company Judge Judco tf Moore ore was one of ot the syndicate ate managers l nR ers It ia is the contention that UI tho timo American Tin Plate compa compa- n fly st stock ck was watered The total capitalization capItalization cap cap- n issued ed Mr r R Reid id said Was wai al a about ut o of which went went- to the syndicate for putting the deal through h and to the owners rs of the tho various various mills as lS a bonus |