The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1911-11-01

ernment's long planned suit to break
up the so-called steel Trust" was
begun here today In the United States
Circuit Court. Ii Is the most sweep
Ing antitrust action ever brought by
the Department Of justice.
Tho Government asks not only for
the dissolution OF the United States
Steel Corporation. but for the dissolu-
tion OF all constituent OF subsidiary
companies which are alleged to have
combined, In violation Of the Sher-
mar law. to maintain. or attempt to
malntain. monopoly Of the steel
business.
There are thlrty-six subsidiary COR
portations made as defendants.
J. Pierpont Morgan. John ID. Rock.
efelIer. Andrew Carnegie. Charles M.
schwab. Geo. w. Perkins. Z. II. Gary.
John ID. Rockefeller. Jr.. Henry C.
Frick. Charles Steele. James Gayley.
William II. Moore. J. III. Moore. Ed
mund c. Converse, Percivai Roberts.
Jr.. Daniel @. Reid. Norman B Ream.
J. A. B. widener and william p.
Palmer are named individually as
defendants
The Steel Corporations lease Of the
Great Northern Railway ore proper
ties Is alleged to be Illegal The steel
directors cancelled the lease Int a
few hours before the filing OF the bill.
The Government acknowledges that
II was advised Of the Steel Corpora
tion's Intention I'm this respect. but
stated that. under the terms of the
lease. no cancellation would be eff
fective until January 1. 1915. and
there Ia no limit upon the amount of
ore that can be taken out In the
meantime.
Sensational allegations fairly toppie
over each other In the Government's
petition. which Is an equity proceed.
ing praying for injunctions to estop
continuance OF the alleged monopoly
aod such other relief as the cour.
may grant.
The Steel Corporations acquisition
OF the Tennessee Coal and Iron Com
pany. during the panic Of 1908. Is
declared Illegal and scathingly criti-
cised. The petition declares that f..
III. Gary and Henry c. Frick misled
former President Roosevelt when they
told him that but little benefit will
come to the Steel Corporation In the
purchase"
The President" IL says. was not
made fully acquainted with the state
Of affairs In New York relevant TO
the transaction. as they existed. II
he had been fully advised he would
have known that a desire TO stop the
panice was not the sole moving cause,
but that there was also a desire and
purpose TO acquire the control Of a
company that had recently assumed
a position OF competition of great
significance.
1T Is certain that the Steel Cor
1oration availed ilself OF the embar-
rasment OF Moore and schiey (New
York brokers. who had large hold
inss Of Tennessee stock, at a most
critical period and the hammering of
general financial calamity to acquire
the control OF a competitor. taking on
a formidable aspect.
The corporation thus greatly
strengthened It's control OF the coun-
try's iron ore supply. its predominant
ing position In the South's iron and
steel trade. eliminated "a competitor
and unlawfully acquired power
which is menace to the welfare OF
the country. and should be destroy
ed"
The Gary dinners are referred 10
though not by name. as meetings
which accomplished more thar writ
ten pools or agreements. which
were frequently broken.
ut was understood and agreed
says the bill. that they (the steel
manufacturers at the meetings) were
bound To protect one another: that 10
carry out his purpose their honor was
at stake. and that tho obligation
binding upon them was even dearer
than life itself. and that no one OF
them should act OF fail to act except
with distinct and clear understand
ing that his honor was involved. and
that this was more binding on him
than any written or verbal contract
When hidden by the chief executive
of the corporation. they came at any
time. from any distance. ready. will
ling and anxious tO turn over IN him