In _The Outlook_ of August 19 last I gave
in full the statement I had made to the Investigating Committee of the
House of Representatives on this matter. That statement is accurate, and
I reaffirm everything I therein said, not only as to what occurred, but
also as to my belief in the wisdom and propriety of my action--indeed,
the action not merely was wise and proper, but it would have been a
calamity from every standpoint had I failed to take it. On page 137 of
the printed report of the testimony before the Committee will be found
Judge Gary's account of the meeting between himself and Mr. Frick and
Mr. Root and myself. This account states the facts accurately. It has
been alleged that the purchase by the Steel Corporation of the property
of the Tennessee Coal and Iron Company gave the Steel Corporation
practically a monopoly of the Southern iron ores--that is, of the iron
ores south of the Potomac and the Ohio. My information, which I
have every reason to believe is accurate and not successfully to be
challenged, is that, of these Southern iron ores the Steel Corporation
has, including the property gained from the Tennessee Coal and Iron
Company, less than 20 per cent--perhaps not over 16 per cent.
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