Theyfurtherinformedmethat，asamatteroffact，thepolicyofthecompanyhasbeentodeclinetoacquiremorethansixtypercentofthesteelproperties，andthatthispurposehasbeenperseveredinforseveralyearspast，withtheobjectofpreventingtheseaccusations，and，asamatteroffact，theirproportionofsteelpropertieshasslightlydecreased，sothatitisbelowthissixtypercent，andtheacquisitionofthepropertyinquestionwillnotraiseitabovesixtypercent。Buttheyfeelthatitisimmenselytotheirinterest，astotheinterestofeveryresponsiblebusinessman，totrytopreventapanicandgeneralindustrialsmash-upatthistime，andthattheyarewillingtogointothistransaction，whichtheywouldnototherwisegointo，becauseitseemstheopinionofthosebestfittedtoexpressjudgmentinNewYorkthatitwillbeanimportantfactorinpreventingabreakthatmightberuinous；andthatthishasbeenurgeduponthembythecombinationofthemostresponsiblebankersinNewYorkwhoarenowthusengagedinendeavoringtosavethesituation。ButtheyassertedthattheydidnotwishtodothisifIstatedthatitoughtnottobedone。I
answeredthat，whileofcourseIcouldnotadvisethemtotaketheactionproposed，Ifeltitnopublicdutyofminetointerposeanyobjections。
Sincerelyyours，SignedTHEODOREROOSEVELT。
HON。CHARLESJ。BONAPARTE，Attorney-General。
Mr。Bonapartereceivedthisnoteinaboutanhour，andthatsamemorninghecameover，acknowledgeditsreceipt，andsaidthatmyanswerwastheonlyproperanswerthatcouldhavebeenmade，havingregardbothtothelawandtotheneedsofthesituation。Hestatedthatthelegalsituationhadbeeninnowaychanged，andthatnosufficientgroundexistedforprosecutionoftheSteelCorporation。