United States Steel: A Corporation with a SoulCotter, Arundel
History
United States Steel: A Corporation with a Soul
Cotter, Arundel
United States Steel Corporation
A year or more after the presentation of the Stanley Committee reports
some interesting events calculated to throw a new light on the causes
that led to the inception of the investigation transpired. A man known
as David Lamar (an assumed name on his own confession), one who bore so
unsavory a reputation in financial circles that he was styled “The Wolf
of Wall Street,” came forward with the assertion that he himself had
written the Stanley resolution for investigation and had used it, or
attempted to do so, as a club over the heads of the Morgan interests.
This failing, he had sent the resolution to Stanley through Henry B.
Martin, secretary of an association called the Anti-Trust League, and
the Kentucky congressman had introduced it into the House.
Lamar’s story was confirmed by Martin and by Edward Lauterbach, a New
York lawyer. It was followed by a denial on the part of Stanley who
pointed out that the resolution was offered originally by him in 1910,
a year before the time of its passage upon its second introduction,
whereas Lauterbach had said that Lamar showed him the resolution
in 1911. The record of the Senate committee which heard the Lamar
evidence, however, shows that Lauterbach stated he had seen the
resolution as early as 1908, or thereabouts, and that he thought it had
been offered to the House in 1910. Upon a suggestion from a senator,
who apparently was not cognizant of the fact that the resolution had
been presented unsuccessfully a year before its passage, that it did
not come before the House until 1911, Lauterbach corrected his date.
Under the circumstances this correction was natural, although the
original testimony was the more reliable.
However ignorant Stanley might have been of knowledge of Lamar’s
authorship of the resolution, and however sincere his motives in
bringing it before Congress, the connection of “The Wolf of Wall
Street” with the matter, which seems fairly conclusively proven, was in
itself sufficient to give a sinister aspect to the whole investigation,
to suggest that its inception was the result of base motives.
Public-domain text, read in full here on John Shaqi.
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