Show I Sm E j t i I I iR s J B f fJ O S i ii f fI i NO i I lI um I II Ii I i ItiC G t Without i t it but butI I Independent i Concerns I I 1 i I II ISO I i SO S X IRM Ni H I J It I Fr I 1 lis or M ull lie and Sul n t t oI I Washington lS 18 pro protect pro our competitors you I be th t ed el States Stool inako nate tS and Imd to government c the le emark ablo declaration of Judge E Eo H Gary d ly chairman of directors of or the Stales St Si el lit the tho before c hie I ouse ways Ys I means tOllay I This Is radical ho li added but rc re rei i 1 t t speaking ri for tho thoI ho steel c this I WHON ED PROTECTION N Schwab S who ho c the committee i e on Tuesday gave much Information and l n I I f t to n a severe eros tion Ills showed sli wed th tariff Is Is a e for f r tho Independent Ind steel H manufacturers than n for f r Wc t Jn de dc declared dared that thal We of the duty certain c steel l product the th st steel el ci l J the he cost oC of labor lib II E the tho competitors of i the steel needed protection but t euro caro Suppose this committee wl o wipe o t tho steel Rt cl duty dut entirely n the u United Steel mUd stilt survive V Inquired Champ Ch Clark of Missouri I 1 say replied Judge Gary but I ani of tho Impression that It If we did wo Would a fL monopoly of the market it In this country T l dont think we Wo could d and fall fair profit if the talin V put on that Former Judge Gary Gar who said I dd he has beon of or board of directors tors of the United States StatcH Steel corporation for ro tle the tho stand awl and was WI S the tho Witness when tho steel sched schell schedule ule 11 was w s taken up He Ho said that Mr 1111 Schwab In his testimony before tho committee co Tuesday had harj not In his esti eliU estimate mate t lg Ul enough for f r depreciation in thai th st of pig 11 Iron Judge Gary placed tho th to 10 o pig pis Iron at I t from 1475 to 15 lIi ti u ton as IlS compared with i 14 the lio t h by Mr lr Schwab This non fudge Gary devoted mue tb to a 1 detailed d state o C pr of Heel He lIe said costIn cost In Ith the Lake Luko Superior region Is Including rby 10 He sold the pl pron at iro I I l to n C ancl 11 l cost costI I does n Interest pC tho steel on on Its Investments III n mining milling ld transportation companies n CAN lF Tt Judge Gary declared that limE f rs In III this country e In tho cost of production have not a sull lent amount tor fOI depreciation clit tion to keep up their plants p He H said Ii i that the tho United State Steel corpora corporation tion can eun produce p Iron Iroll and lally cheaper 1 most of m Ho c d tho in about a dollar a I he said was due l to 10 tile the modern m d rn character of equipment eq and cost st of certain hia IlIa to the tho corporation tIon Dont you OU believe It Il Is moro more than a 1 dollar a ton I asked Chairman Ch Payne Pa ne neTho The Tho corporation h has a de decided d advantage ady In tho t und and quantity qu oi ot ore and an all ad vantage In owning Us Its of transportation b and rail Ill 11 can naturally manu manufacture I facture pig Iron cheaper cl than those which have not n f those ad ill there th lo is no tho difference in cost Is more than two dollars Judge Gary today toda testified that tho thoc cost c to produce pig Iron in England is I 0 a n ton the lowest cost In the tho Lor raine district of f Germany German Is a aton aton ton and In other Germany G 11 a ton Ho said that eliminating g tho profit till rill along the lino llie that entered into of pig Iron tho cost of or production In the thc United States 15 aton Ho H said that the tho gen could not produce it for less a I ton Declaring De the average cost of producing pig Iron in all aU of the tho plants of to corporation cC Is a ton Judge Gary tho by which this average vas determined The Iron In n the production of u a ton of Iron coats ho he said 0 Ui ms v js lo 10 up tho 1530 h sald aro Coke 1 Ih 1 t f er la Ing cost 1 3 depreciation I made mad by b the tho st reIS now liow In quality than tl ul formerly and nn cost f Is thero i J JI I l l us d dI I INo 1 I I No railroad that thai Is able to pay i a It ton for r I rails lias lia g the Ost HUm J dg J I IO O ry U ls bo on a d pont point I it a l r C of f the th of or anything i ie e 10 ith n a on 1 Investment If ho h docs 1 cs not charge hIS va Iii tl h price o he ought to bief h compelled td to soll for tol Mr l t I heir Gary to t prevent levent the th t l lel el train g a It tl gave gave them n or than th a fall fair return Investment Inv By B publicity and government con 1101 of the tho min r he re Ie responded 1 The Tho price o of steel rails I was fixed in 18 at a it e lir r of or steel Ht cl manu nu d thOi Of pos possibly oS sibly a Ii few railroad commissioners as asto asto to what would be a for tor rails ralls Sinco that time the tho ors have adhered adlie d to th t and a HI T doubt would ha th othor have no agreement and do not l t haVo h o any an meet meetings ings TRUST It true tuo you ou have havo such a control that If Jr you fixed tho price nono no no of the tl Independent to sot set a price below youre asked Mr rl Clark rl NDE CAUTIOUS f That may bo true truo as far as steel rails ralls are concerned replied Judge JUt Gary GIUy but qualified his answer answel by b say InS ho did not mean that the steel corporation hal had ii holt hold on the Indus Industry try but that tho Independents the tho advisability of maintaining ono price Suppose the tho United States Steel corporation put the th price up to 30 a aton ton do you there thero Is II un Indo manufacturer who vho would not marl his price up to 30 a ton because you had marked yours y urs lip lipI p pr I r was the reply ex ox except I t think they would mark marJ the price up Judge Tl Gary admitted d that tho steel corporation could drive the Independents d out of business bt In a 0 competition because the th steel corporation can pro produce i duce uee rails cheaper than thun tho Independents i Judge Guy said steel cor COI corporation not In the tho tin tinplate plate Industry without a tariff less lesl ihan the th duty d ty this nf ar t TRUST PROFITS S wanted to lo know how tho United States Slates Steel corporation e lp Is hi making Judge Iuds Gary wild that tho Interest paid foul amounted to the divi fend paid out but that a aul has been accumulated ed cd and that has haq been paid out for fo construction He said Haid that the total profits on the ap approximated P Pp p per cent The United States Steel corporation according to Judge Gary l at Itt In preferred stock and In common stock and tho bonds of tho th J corporation amounted to on which lale of Interest Is 5 per percent cent The subsidiary companies have u I total bond Issue of o ha h said Representative c Underwood asked Judge Judg Gary Gal if IC ho agreed with Mr 11 Schwab who testified that tho cost C of ot labor l bor on a l ton pig iron In this coun country countI try tI and England Is about tho same samo the tho cost of labor In Inthis this country Is dU Increased enc and Improved methods This Is 11 correct 1111 in regard to tho pig Iron but it Ms not so of tI I steel ts he replied The Tho corporation ll manufactures lI annually 10 to 11 tons off ff pig Iron and the same quantity of finished steel In rails structural steel steal wire products such sis is nails nalls fence and piano wire tubes s and tin plate What percentage of the tho Iron production tion t on is turned out o t by your company asked Chairman Payne l last ast year per POl cent of all Would yoube adverse to our securing SecurIng ing Uio figures that you OU originally fur furnished to tho bureau of corporations Information 1 asked air f I would bo willing that tho com committee committee should have that data for fOl its Itson own on Information replied Judge Gary GalY Chairman Payne Pa l o said he could not the newspaper mon would not get hold of the figures as tho com committee committee believed the tho public should ah uld ho hotho tho benefit of all information presented to the committee Well said Judge Gary Ga I 1 will an answer answer In tho negative wo Wil are not ad tho committee e having those figures It woe announced by the committee toddy that Andrew Carnegie will ap appear appear pear before fole U It Monday Ion a |