AMERICAN STEEL TRUST.
SOME DISCLOSURES
United Press Association —By Electric ' Telegraph —Copyright. (Received May 29, 8.5 a.m.) , NEW YORK, May 29. i Giving evidence before the Committee which is investigating the steel industry, at Washington, John W. Gates, referring to the United States Steel Corporation's operations, de- j clared that millions were lost and created almost in a breath. l The Carnegie mills, which were appraised as being worth 160,000,000 dollars-, were reorganised as worth I 320,005,000 dollars, which sum Carneg- { i<a had received in the shape of Cor- j poration securities. I He admitted that tho combination was formed with the object of throttling competition, and when Roekfeller sought to enter the steel business, a deal was mado which forced him to sell out at forty cents on the dollar. He claimed that the corporation was conceived by himself, C. M.-Schwab, i and Pierpont Morgan. 1
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Wairarapa Age, Volume XXXII, Issue 10251, 30 May 1911, Page 3
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147AMERICAN STEEL TRUST. Wairarapa Age, Volume XXXII, Issue 10251, 30 May 1911, Page 3
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