Jacksboro Gazette (Jacksboro, Tex.), Vol. 32, No. 1, Ed. 1 Thursday, June 1, 1911 Page: 1 of 18
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X&X&A Bt&te Library
JACK
A/”
Y
VOLUME XXXII.
JACKSBORO, TEXAS, THURSDAY, JUNE 1, 1911.
■ UMBER 1.
J
L
NO. 7814.
K THE THROTTLING
OF COMPETITION
CAPITAL -
$50,000.00.
SURPLUS
$10,000.00.
E. W. Nicholson, Vice-Pres.
J. G. Mullens, Vice-Pres.
W. A. Shown, Pres. Wm. Turner, Cashier
J. P. Newell, Asst.
Cashier
S. Castleberry
E. A. Gwaltnney
J. G. Mullens
DIRECTORS:
E. W. Nicholson
W. A. Shown
Sil Stark
J. H. Timberlake
Wm. Turner
J. H. Walters
STEEL TRUST’S SOLE PURPOSE.
GATES ’EVIDENCE SENSA-
TIONAL.
We offer to the people of Jacl* County all of the advantages of a
thoroughly up-to-date and conservatively managed banking institution.
The affairs of the bank are administered by a conservative Board of
successful business men, under the direction of the Treasurer of the
United States. The books are audited at frequent intervals by a com-
mittee of competent accountants, and examined twice annually by a
Special Agent of Die Treasury Department, thus insuring <:o our de-
positors the greatest security known to the modern Banking fraternity.
Our depositors are among the best citizens of the community;
and, if you are not already one of them, a very cardial invitation is
extended to you to become one.
No deposit is too small to be welcomed, and equal courtesy is
shown to all, without regard to the size of their balances.
THE JACKSBORO NATIONAL BANK'
MR. CARNEGIE’S REFUSAL
Hill seeking a conference to deter-
mine what could be done. Mr.
Gates «aid he told Mr. Morgan that
Charles M. Schwab was the one man
who could influence Mr." Carnegie.
| Out of that came a night conference
| at Mr. Morgan’s New York home,
; the outcome of which was the Unit-
I ed States Steel corporation. p
Rockefeller Bought Off.
j John D. Rockefeller’s name came
! came up in the hearing when Mr.
Gates was describing Mr. Carnegie’s
desire to branch out after the or-
ganization of the National Tube
Tube company.
John D. Rockefeller,” he said,
"once started a steel mill and
EXIT MARKED
FDR LORIMER
• \ :
ILLINOIS SENATOR WILL PROB-
ABLY BE SHOWN THE DOOR
IS IMPRESSION.
o LCL1 ICU CL DICCi ±1.1 Hi cXAAU.
To Be Bound by Agreements Deter , , . , . „ ,
J & i threatened to put us out of business.
Tnat did not last long. A deal was
mined J. P. Morgan to Put Him
Out of Business.
Jacksboro,
Texas
YOU CAN NOT EXPECT
HER TO BAKE
perfectly unless you provide her
with perfect materials of which
flour of course is the chief. A
sack of our Jacksboro flour will
settle the perfection question so
far as flour is concerned. Order
a sack today, so that perfect bak-
ing at your house may begin at
once.
JACKSBORO MILL &
ELEVATOR COMPANY.
h&Sf
.(Si, - ■ Ni
V i
GEO. SPILLER,
SURVEYOR, NOTARY PUBLIC,
COL-
Has only Abstract, of Jack County
Land Titles.
Policies in any of twenty of the
Best Companies.
JACKSBORO, JACK CO., TEXAS.
F. N. McClure
(Successor to W. P. Stewart
t Land Agency)
LANDS, LOANS and
INSURANCE.
Abstracting and Con- *
veyancing.
Notary Public.
Jacksboro, Texas
MM
Washington, May 27.—John W.
Gates gave to the house “steel
trust” investigating committee to-
day the history of tae United States
Steel eorpporation. Present at the
birth of the greatest steel manu-
facturing concern in the world, he
described how it was the natural
outcome of the refusal of Andrew
Carnegie to be bound by the “gen-
tleman’s agreements” that marked
the early days of open competition
in the steel business’
He told also of millions lost and
created almost in a breath; how
the Carnegie mills appraised at
$160,000,poo were recognized as
worth $320,00'j,000 almost within
the time required to make the trans-
fer to the corporation; Eh© grim
clash in the formative days when
John D. Rockefeller was dissuaded
from joining in the creation of the
corporation and the manner in
which others were prevented from 1 nr'PIOini'1
engaging in the steel trade. UtulOiUiM
Relating how Carnegie hdd been
forced to abandon plans for extend-
ing his steel business, Mr. Gates
frankly admitted that the gigantic
industrial combination w^S formed
to throttle competition, and he sur-
prised''the committee with the fur-
ther information that when John J>.
Rockefeller had sought to encer the
steel business
made whereby Rockefeller’s steel
interests were bought out at 40
cents on the dollar.”
Mr. Gates answered with candor
nearly every question put to hirer by
Representative Stanley, the chair-
man, and' other members of the
committee, but stirred them some-
what when he declined to state
what he thought was til evalue oi
the common stock of the steel cor-
poration.
TOBACCO TRUST
MUST DISSOLVE
. f
BRANDED AS ILLEGAL COMBINA-
TION TO RESTRAIN AND MO-
NOPOLIZE TRADE.
IS SWEEP1N8
Foreign as Well as Interstate Com-
* \ \
merce Affected by Decision. Jus-
tice Harlan Di >sents in Part.
BAILEY FAVORS PROBE
New Evidence Shows New’ Phase to
Scandal Which Has Engrossed
Senate for Many Months.
Washington, May26.—-If general
impressions count for anything, it
might be safe to hazard that the
days of William Lorimer in the
United States senate are numbered,
as judging by the speeches and at-
titude of the senate today tbs
blonde boss will not have manj
champions when the second investi-
gation of his election is begun.
La Folletie concluded his tongue
speech this afternoon, after admit-
ting that it is exceedingly ’difficult
to secure conclusive facts in cases
to judge by that, and yet people
claim to understand this case better
than the senators who read all of
the testimony under oath. *
“Speaking for myself, if a further
investigation shows this seat in the-
senate was obtained through bribery
and corruption, I will be the first
to vote to declare it vacant. At the
close of the investigation of this
case I acted under the law and Ihe
evidence, and I knew and the othe?
senators who voted as I did' knew -
the public mind was prejudiced and,
the vote we gave would subject us
to censure, but were we to do our
duty or yield to poppu’ar Remand?;
I obey the will of my people, and I
would no.t keep the people’s office
and defy their will, but the public
i will I respect is the will that I keep
my oath; the others are welcome to
my place whenever they ask it.
“If a review of this case shows
we have saved the seat of a man
who purchased it, our plain duty ia
to make reparation. I admit with
the Wisconsin senator, that there
were seventy years in the first his-
tory of this senace when there were
no bribery charges and that since
then there have been eleven such
cases, but that also was in, a time
when we did not hear abotft the in-
itiative, referendum and recall. Un-
der the Martin resolution^- exppert
accountants can open the books and
if $100,000 was raised and> spent it
can be demonstrated. If it is so
‘if
of bribery and announcing that at [ found, we can show the country the
the proper time be would offer an senate shelters no* corruptionist of
amendment to his resolution to either party. We must prove our
prove for the election by the secret self-respect and respect for tho
of a committee of five to make the senate.”
investigation, the only eligible^ to bp
LTttleton opposes recall
members who were not in the Six-
ty-first congress and instructing
them to do their work promptly.
Senator Bailey was the first sen-
ator to be recognized by Vicfe Pres- {0f Judges, and Attacks Idea In a
ident Sherman after La Follette
11
Sfii
IP
Washipgton, May 29.-—The gov-
concluded. He began by saying he
felt sure he was speaking with ac-
curacy when he said that in view of
recently developed testimony and the
request of the senate of the state
of Illifiois, every Democratic sena-
tor dsird a furtheeer investigation
into the Lorimer case.
Speech on Statehood.
if ijb
% m
Martin W. Littleton is strongly op-
i posed to the ”-ocali feature of the
Arizona constitution. Representative
an attack upon the recall of Judges
feature of the Arizona constitution,
MAJESTIC
* South Side Square.
Show starts promptly at 8:15 P. M.
Costs only a dime. Come and bring
the children.
Good Music and the Best of Reels.
House clean and comfortable.
TO
FORT WORTH & RETIjRil|
Tickets will be on sale
T. V
Nay 31st and June 1st.
Limit June 15th
throat
mag:
40 cents on the dollar.
a deal had been h ' enunen{ today won a sweeping vie- „ . i-.
ifth *K» Rtandard n .. . • ..--------____Bailey said m. part.
ngh by which ate Standard
mate was foiled to sell out fc
jpjfh'v over*the so-called tobacco trust,
*0? i when the supreme court -of ,thaf
; United States held the American To-
. arch -upon which it has' come to
J“ambeTarse :reSt W,th
1 “The seasoned and staid
! :f i:
vor of reopening th
m
Characterizing Mr. Carnegie as a ■ bacco'’ company and its allied corpo- th6 alIe^ed new and material ev-} tl of impeachment
“bull in a china shop,” Mb. Gates 1 ration3 to be operating in violation denCe We baSe °Ur b°peS' * baVe
told of a midnight -conference be-1 ” 1.wI be eStabI!Sbed ““ W<!S “ “I-Id
tween himself, Charles M. Schwab
and J. P. Morgan, at which the steel
itself and to/ the country to recon-
are to be
translated into a trial, by tumult,”
Mr. ^ittleton. “The orderly
Good roads ameliorate the condi-
tion of the farmer, promote social
Intercourse, encourage school
attendance and relieve farm life
from monotony.
For rates, etc., in-
quire of or write to
local agent, or
Geo. S. Pentecost
G. P. & T. A.
Ft. Worth, Texas
was interested as a stockholder of
new eva- jto be>
I have j
no criticism to make on the sub-.
committee that conducted the first!
investigation, it did its work well i
and was not to blame if witnesses j
By directing that the combination;^ the case Qn the
corporation was concived, and how j Btate commerce11 or* be' placed in the ! dence we base our h,°PPeS
it resulted jn Carnegie getting $S20,hands of a receiver unless it disin-
000,000 in the corporations securi-j tegrates in harmony with the law
ties for his steel interests, which j within six or at the most eight
he previously had offered for 160,- • months, the coum deals with the to-
000,000 in cash. ; bacco corporation more drastically
Mr. Gates also told the committee than with the Standard Oil company
of the taking over of the Tennessee ; Xew Jersey whose dissolution
Coal & Iron company by the United ; was ordered two weeks ago.
States Steel corporation during the Both the first and second sections
panic of 1907, a deal in which he Gf ^be Sherman anti-trust Idw have
(been violated b/ the socalled tobac-!(.„ „„K1. ■ „ ,
the Tennessee company. This, he co trust> according to the court. Not ^ U‘ f h J ty,'P b '
declared, was a forced transaction j oniy has it restrained wrongfully and
carried out by Mr. Morgan and dtherj unlawfully interstate commerce in
i processed of regulated justice are
converted into sporadic as-
saults born of hatband disappoint-
ment. The dignififed minister of
the established law, ennobled by
the grand Jr of his lofty station and
before them concealed the facts and t the pressure of sober
^ ^ „^m,*Jrespo®siblhty- 1S be degraded by
the impending threat and distracted
by the uncertainty of a precarious
tenure. The misguided or malig-
nant passions of Hn unimportant
fragment of the community may
recklessly accuse the most stain-
„ , ,__less Judge and by groundless charges
j put suspicion m the place of confl-
later told them to another commit-
tee.
“If there were no evidence I
would not vote for a new trial for
an investigation 7such as this must
end somewhere. While I bow’ to s
timent alone could not
An election will be held at Waco
on June 20th foor the purpose of
voting on a $600,000 bond issue for
good roads. Good roads headquar-
ters have been established in Waco
with Senator H. B. Terrell as chair-
man.
financial leaders to save from ruin
the Trust Company of America,
threatened in the financial upheaval
because it had loafed too much
money on stock of the Tennessee
Coal & Iron company.
How the Trust Was Born.
the eyes of the court, but it has at-
tempted to monopolize the tobacco
business to the injury of the public
and of its competitors.
While the decree was regarded as
[■unusually severe, at the same time
I there was a touch of leniency in not
Plans made by Mr. Carnegie in 1 making the combination an “out-
1899 and 1900 to circle his steel In-. J
terests with a railroad of his own
and to compete with the National I *ati°ns are to be given an opportu-
Tube company, just organized by Mr.iUty’ under the supervision of the
Morgan, by the erection of tube ! Unlted States cIrcuit eourt for ^
etw” now.
The ’ wious ele ments of the comoi-
when acting in a judicial ^capacity. • ^
dence and distrust in place of
The senator from Wisconsin has not
gauged public sentiment; clamor is
not sentiment. If I should consider
public opinion I would want to know
the place of faith.”
Quoting from St Luke, telling
how Pilate, bending before the cries
... . , . °f the mob, permitted Christ to be
that public opinion is well informed, . . .
, , A , taken away and crucified, the speak-
and in this case it is not well in-
formed. A man ought to read the
evidence and those who censure us
and demand a review of this case
should know the facts. The testi-
mony in th>s case constitutes a vol-
ume of over 700 pages. How many
ebusiness men have studied thv
mass of testimony? During the first
er .concluded: “God forbid that the
sanctuaries of America shall ever be
ravished by the sibilant hiss* of a
mob crying, 'Crucify him, crucify
him.' ”
A Benefit to -All.
works at Ashtabula, Ohio, Were the d*a"’ict ^ev recreat‘on investigation the seu;i*-i ordered1 The farmers who produce the ne-
factors that led to the birth of the I lbil there b(} brought about
“a new condition which shall be hon-
estly in harmony with and not re-
TEXACO ROOFING
\ *: $ X’
Less expensive than metal or shingles
Approved by the Fire Underwriters
Easily put on by the purchaser
Make your old roofs waterproof
By recoating them with *
Texaco Roofing Cement
for sale by local dealers
THE TEXAS COMPANY
General offices; Houston, Texas.
steel combine. The story of the |
negotiations which led up to the
combination, the subject of con- J to the aw
gressional inquiry, was entertain-! Tirs opinion of the coa t was an-
ingly told by Mr. Gates. j noui.ced by Chief Justice White,
He revealed how Mr. Morgan, arm- who als6 delivered the opinion of
ed by Mr. Carnegie’s plans, had the court in the Standard Oil case.
sought the advice of himself and The entire court a*reed that the tQ-
James J. Hill; how Charles M bacco combination violated the Sher-
Pchwab, wlj,p, he said, was the only man anti-trust law, biu Associate
eight copies for each senstor, and < cessities of life are less dependent
at the time the vote was taken but than the millions of people who live
fourteen of these copies had been
called for, and yesterday there were
iu the folding room 631 of the orig-
in our cities and towns. Good roads
are just as important to the con-
sum e-s, if not more so, than they
in&l '*36 volumes. Extracts only of j a to the producers of the coun-
the testQirtony have been published j try. Help the farmers build good
in the newspapers, and it is not fair I roads.
man who had influence with Mr. Car
negie, was *calipd in to , suggest a
way to “stop Carnegie,” and how
the pioneer steel king of the coun-
try was curbed in his purpose,
though greatly to his financial gain
Justice Harlan dissented from the |
repeated interpretation of the Sher-
man anci-trust law so as to call for
the application of the “rule of rea-
son” in determining what restraints
of trade were forbidden by the act.
%'X
He explained that the steel bu* -!In chis respect the division of the
ness was threatened with several !tour^ was the same as in tKe Stand-
demoralizing forces when Carnegie’s ard case.
plans became known and that Mr. i -■ — »--
Morgan and others became alarmed,: Good roads will help those who
fearing Carnegie ‘would demoralize cultivate the soil and feed the mul-
both railroad interests ,and 8i.ee! titude and whatever aids the pro-
prices. , ducers of our country'will increase
.aTMTol:'“r; —Bath Tubs. Lavatories and Kitchen Sinks
at present in the Republic Iron &
Me
Business Phone 73.
Fesidence Phone 85
S. 0. CALLAHAN,
The Wind Mill Man -
BRASS FITTINGS, WIND MILLS AND PUMPS
COTTON AND RUBBER HOSv
Steel company, when Mr. Morgan
l sent word to him through James J.
Bring in your Gazette Coupon.
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Jacksboro Gazette (Jacksboro, Tex.), Vol. 32, No. 1, Ed. 1 Thursday, June 1, 1911, newspaper, June 1, 1911; Jacksboro, Texas. (https://texashistory.unt.edu/ark:/67531/metapth730194/m1/1/?q=Lamar+University: accessed June 9, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Gladys Johnson Ritchie Library.