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Show PRESIDENT HOT AUTWED TO PERMIT ABSORPTION Such Is the Report of Committee Appointed Ap-pointed to Investigate Merger of Tennessee and Steel Trust. Washington. By a vote of three to two, the sub-committee of the committee on judiciary, which has been investigating the merger of tho Tennessee Coal and Iron company and the United States Steel corporation, on February 2oth decided to report to the full committee that the president was not authorized to permit the absorption. ab-sorption. The committee found also that President Pres-ident Roosevelt was equally unauthorized unauthor-ized to direct the attorney general not to interfere with the merger and not to enforce the federal statutes against it. it was decided also that as both companies were engaged in interstate commerce, the absorption was in violation vio-lation of the Sherman anti-trust law It was found that the effect and purpose pur-pose of the absorption were to monopolize monop-olize the iron ore supply of the country coun-try and generaly to eliminate the Tennessee Ten-nessee company as a competitor of the United States Steel corporation. The inquiry was conducted by a subcommittee sub-committee of five, Messrs. Clarke of Wyoming, Kittredge, Dillingham, Culberson Cul-berson and Overman. The first three of these are Republicans and the last two Democrats. Senator Kittredge joined with the two Democrat in making the majority report. No minority mi-nority report was made by Senators Clarke and Dillingham. |
