| Show TENNESSEE IRONS IRON STEEL MERGER Senate Committee Commit toe on Now Investigating This Colo I I WHY COURSE WAS ADOPTED W leo W Irid er f y f 1 1 U It 1111 1 H Do 11 It In Prevent M n Jan TIM The merger merr or of orthe the h Tenn Coal A Iran company compa and nd the Steel w we In Inv t 4 by r seat corn eom he oe 01 today The wi with h Thorne tr et r the Trust milt Company of Americ Nd W of J JP P Nor Morgan Cry co 00 which Is also a mem bel If nt t hS be of th the steel So No haw haft Mea been made b by the to te a Judge Jad or Oary and nd ndJI JI gI t Frisk The Th of lit both toll was u conducted by tor Cul CuI fr on Mr M I that the Truet l 0 pany of has Itu no In l Mock of the Tons Coal Cast AI Iron as II owner lIer but on 1 17 1117 It h td Id loaned to six hI Individual belting t tile e Mock at 11 as colleted collateral Ml II of I these tans loaM wd said Mr Thorne n rr arc paid or oK In November with the of two each j Mr M r Thorne rid aid that he considered 1 Iw 1 arlt for tor the loans loan to be beJ good end J that ht bl company hd had no l I the he absorption of the Tenn TennI Tennessee I pony Iny by the tel steel corporal corporation lon and did Aid not know of the until I Ii they were begun un unI then InquIred of I II 1 Thorne whether he h hd had knowl c of a syndicate which owned the Interest In the Tenne Tennessee I foal It Iron INn company compan In the tall fall of I ItO I He replied that he had and drat drath It h a member of that syndicate but butI buth I h I C had withdrawn from the syndicate I Ii and n was a not with the I t 1 I tra operation The original ut 1 manager were weN given alven a Grant Orant B Br I 1 r hi hley and Charier I t nard onard Han Hanna of Cleveland took the ri 11 o f Mr after aftel the latter latte latterI I uh It This Thill syndicate declared Mr LoOm owned a majority of the stock or of the th Tennessee company nI STOCK TO MORG MORGIn I In addition Ir Thorn Thor Joha V Gatell Gatea Y E J and aDd n II i g iI I I I 1 I wk c eked It If he be had an any per perti perI I ti knowledge of the actual sal Ie of a aa a of the stock lock of the In November 1507 1107 Mr Thorne id ill 11 that t I know I le that I delivered r m stock Ik to J P Morgan Morsan Co and n 1 Ii I receipt for It Overman asked aked Mr Thorn Thorne Thorner r r the Ihl time three of the merger merser the Trust mf t America was wa arra d and If so whether the hAd a tendency to relieve It I It t hat It hd had no bear I Ig a either her himself or the company At AI ti tit time the syndicate to control he hf Tennessee ee Coal Iron company tP o homed md said ald Mr Thorne the syn n price prk was wa a share hare but it i arkI l rIce w was i and It went up UI I l S1 Mr Thorne when the I Tc company compan stock wu was urd ur 10 d the owner onera received In return I lit 1 Stale Stater steel 0 1 per rant bond on In I ha bt of par value for each ch 1111 f the tock stock of the Tennessee mn The rhe steel teel corporation bond r by Mr Thorne a being belne rl to from 52 12 to 14 11 at the Ibe time II he them nd being worth now bI n 1112 and SUII TIll WIon hen Mr Perkins took the nd he heBald PIt Bald Th The acquisition of the Tennessee foal Iron company b by the United Metes Steel corporation WM was never up or broached to In any way d dr r as my knowledge goes until per Pr hal hu the 1111 second or third acute stags ta of I the h panic developed In New York end nd then Ihen It came up very suddenly heel n U r ot of the series ert of that In New York a as a result of Iho Ih gnat Itral In market markt val uN f lid uld the Or of a agnal rrt gnal many Mr Ir said that there wu warn a arlU feeling which It t would be lilt f I r any ny on one to express In a con I r that If the Ibe I e it Iron Iran stocks were taken OI out of n u Ioan In some eoma way war It would jr lre III II a great many and anden n ert en n II spread of the pent panl lIt lIi h n 1 F nIly some one made a s sf f Ii I h afterwards worked out oln lit t th h atlon I 1 I JotI ier it t second mortgage mOrle bo bonds In |
