United States Steel: A Corporation with a SoulCotter, Arundel
History
United States Steel: A Corporation with a Soul
Cotter, Arundel
United States Steel Corporation
Hearings before a Special Examiner were ordered and these began in
New York early in 1912. Many months were consumed in the hearing of
testimony on either side, and it was not until the spring of 1914
that the last of the witnesses was examined. Among those called to
testify were former President Roosevelt; prominent steel men like John
A. Topping, E. C. Felton, Joseph G. Butler, Willis L. King, Charles
M. Schwab, James R. Bowron, Frank S. Witherbee, W. H. Donner, A. F.
Huston, Edwin R. Crawford, A. W. Thompson, Karl G. Roebling, James A.
Campbell, C. W. Bray, W. W. Lukens, John Stevenson, Jr., and a host
of others; prominent economists like Professor Jeremiah Jenks and Dr.
Francis Walker; financiers like Oakleigh Thorne, of the Trust Co. of
America, George M. Reynolds, and others; directors of the Corporation
including Judge Gary, James A. Farrell, J. H. Reed, Percival Roberts,
Jr., Daniel Reid, and so on, not to mention a vast array of railroad
purchasing agents, heads of large steel-consuming companies, and many
others among whom may be mentioned James R. Garfield and Lewis Cass
Ledyard.
A large part of the testimony was devoted to events far preceding the
organization of the Corporation, it being the intent of the government
counsel to show that not only was the Corporation restraining trade but
that the very elements of which it was composed, the companies absorbed
by the great merger, were themselves organized in violation of the
law. As the hearings progressed the conviction that the Corporation
would emerge from the ordeal of prosecution successfully became more
prevalent, the evidence, to the lay mind, all supporting its denial of
any violation of the law. The witnesses called for the defence were
unanimous in declaring that the big company, far from restraining
competition, had fostered it, and this point, in effect, was the very
nub of the matter. Even the witnesses for the prosecution, many of
them, took the same attitude.
It was in listening to this testimony, or the greater part of it, that
the writer conceived the idea of recording the history of the great
Corporation. Here was a mass of data, the sworn statements of prominent
and reliable business men, a foundation that could not be excelled for
a work of this character. From this mass of evidence, in large part,
have been taken the facts stated in this history. The records in the
dissolution suit, in fact, contain the whole story of the Corporation
up to the year 1911. Hence it would be vain to review in detail all the
testimony here.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account