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Show EASY MONEY I fORSTEEl 11 Stroke of a Pen Would i j fl Have Made Millions M For the Trust - l!,B r 1 Washington, Aug. 8. With George I W. Perkins, former chairman of the ! M finance committee of the United j M States Steel corporation, on the stand ' ' M Chairman Stanley of the oHuse Steel' ' jfH Trust investigating committee today H produced a copy of the minutes of tho i Ifl Steel Corporation's executive com- .j mittee showing that In March, 1902 I ijfl Br. Perkins proposed a plan to raise 111 $50,000,000 without costing the cor- i poration a cent. fU This financial achievement was to tfV have ..been attained by taking up , S I about forty per cent of the preferred I stocfc or about ?200,000,000, costing I $14,000,000 a year In dividends at sev- I V I on per cent, and . .to - -issue instead 1 , I $250,000,000 of second mortgage five fitfl per cent bonds. This would have add- ' III ed $50,000,000 In new money and ill would have resulted in a saving to f I the corporation of $1.500,0d0 a year. X I There was nothing in the minutes w I to Indicate that the plan had been f I carried through, although it apparent- '' f I ly met with the approval of those A M present at the meeting. Mlfl George W Perkins and the House ftfl committee on Investigation of the H united states bteel corporation, were ! deadlocked today oer the persistent , ilH insisting of Chairman Stanley that H tho witness 6hould answer questions 61 relating to his participation in cam- ill paign contributions. fH Washington, Aug. S. George W. fl Perkins, a director of the-v United jH States Steel corporation, fomer chair- fH man of the, finance committee, and ' M former partner of J, P. Morgan; ap- peared today before the House com- I H mittee of inquiry into the United jf H States Steel corporation. Richard . ) IH Lindabury, counsel for the -steel cor- " 11 poration, accompanied him. Edgar A. I M Bancroft, of Chicago, counsel for the j M International Harvester company,- of. j M which Mr. Perkins j a director, and I'l chairman of (he finance conimlttw, lil also w?s present. H At the. PjitsetLr, . Ljnabury said 'J he 'would Vkp.A. .SVbjnitthe names ' vM of scientists who' hold. -that the United J j M States Steel corporatlon-'has no mon- y, ' yM opojy o,f the available-ores inthe-Bir- p'H mingham district-. . "., '- iivfl "There -has been testimony ' here ( f IB that the corporation controlled from w. j ' CO to 70 per cent of the'Blrmingham fl 'JH ores." said Mr. Lindabury "We have Wsjl information from various scientists Klfl who insist our holdings are not more filial than 17 per cent and we wish the 11 committee would hear more of tlnam." 11 Chairman Stanley declared he re- garded the question of ore handling H as one of the most important at issue H and that the committee would wol- iH come reliable testimony from any rep- , f utable scientist $ fl "My mind is as open on that ques- j M tion as it was when the investiga- J M tion began," said the chairman. He I M added that the committee might take W M a recess with the adjournment of fl congress, but in such an event the M matter would be thoroughly taken up H later, s M When tho examination of Mr. Per JjH kins began, Chairman Stanley' asked i If at the time of the organized 1 steel l corporation, there was any plan for 1 taking over Tennessee Coal &. Iron. MH "No sir," answered iir Perkins. ' i "What were you doing at that time flllH then?" ' "I was In the life insurance hircl- I ! I nocc vra nrpsld.-int of thft New York I H i Life Insurance company." '1 iM "Were you at the time a director of !i M the International Harvester com- M pany?" M "No, sir, I became associated with that company In '1902" H "The minutes of the first meeting 1 of the finance committee of the Unit- H ed States steel corporation on April M 10, 1901, shows that you were invited l to' take the minutes. How long did H you do that?" tM "Until the organization was per- I jH fected ; only a few weeks." 1 M "Who were the -members of tho j1 JM firm of J. P. Morgan & Co. when you H entered the firm?" ,IH "I could not give all of them, but hM there were J. Pierpont Morgan, Rob- , M ert Bacon, Charles Steele, E. T, ' H Stotesbury and J. Morgan, Ja." H "Who of those became members JM of tho Steel corporation fcoard of di- i H rectors?" M "Mr. Morgan, Sn, itfr. Bacon and M Mr. Steele." l "Who of that firm aro now mem- m bers of tho United States Steel board ' M of directors?" !i "My recollection1 Is Mr. Morgan, Mr. t fi'M Steele and Mr. Morgan, Jr. At ono . " M time there were four." ; H |