United States Steel: A Corporation with a SoulCotter, Arundel
History
United States Steel: A Corporation with a Soul
Cotter, Arundel
United States Steel Corporation
The good will he gained for the Corporation from those who otherwise
would have been its enemies proved a strong bulwark of defence in the
Government’s suit for the dissolution of the “Steel Trust.” Had Gary’s
early recommendations on questions of policy been overruled by his
associates it is a moral certainty that the Corporation would have been
dissolved instead of emerging victorious from the suit. It is difficult
to see how any one who had the opportunity to listen to or read the
evidence presented in this litigation could fail to have been impressed
with the fact that Gary seemed to have anticipated every possible
point of attack and to have taken steps to eliminate, or at least to
minimize, the danger therefrom. Whatever may have been the differences
of opinion in the beginning, for many years the policies advocated by
Judge Gary have been endorsed by all of his fellow-directors on the
Steel Corporation’s Board; particularly by the members of the Finance
Committee, who were more closely associated with him, had a better
opportunity of absorbing his viewpoint, and who stood behind him
solidly in carrying out his ideas. Gary himself was emphatic on this
point in his testimony in the Government suit.
The part played by Gary in bringing about the formation of the U. S.
Steel Corporation and in guiding its policies was clearly brought out
by the late Robert Bacon, one of the partners in the firm of J. P.
Morgan & Co., in his testimony in the suit in question. Mr. Bacon,
speaking of the organization of the big company, said: “Judge Gary, of
course, directed it all.” And later, in discussing the policies of the
Corporation:
Public-domain text, read in full here on John Shaqi.
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