Reporter and farmer. [volume] (Webster, Day County, Dakota [S.D.]) 188?-1946, 1911-11-02
SUIT AGAINST
STEEL TRUST
Government Brings Action to
Have BiIlion-D oI|or Corpora
ton Declared Illegal.
ASKS ITS DISSOLUTION
Action Is the Most Sweeping
nti-TruSt Move Made by
Department of Justice.

Trenton, n. j., Oct. 27.-The govern
ment's long planned suit to break up
the so called steel trust" was begun
here in the United States circuit court
1t was the most sweeping antitrust
action ever brought by the department
OF justice.
The government asks not only for
the dissolution of the United States
Steel corporation, but for the dissolu.
ton of all constituents or subsidiary
companies which are alleged to have
combined IN violation of the Sherman
law to maintain, or attempt to main,
tain, a monopoly OF the steel bust,
ness" There are thirty-six subsidiary
corporations named as defendants.
J. P~ierpont Morgan, John d. Rookie,
Teller, Andrew Carnegie, Charles NJ.
Schwab,. George w. Perkins, E. H.
Gary, John d. Rockefeller, Jr., Henry
c. Prick, Charles Steele, James Gay
ley, William II. Moore, j. H. Moore,
Edmund G.. Converse, Percival Rob-
erts, Jr., Daniel G. Reid, Norman b.
Ream, P. A. Widener and William p.
Palmer are named individually as de.
PENDANTS.
The United States Steel corporation,
Carnegie Steel company, Carnegie
company of New Jersey, Federal Steel
company, National Steel company,
American Steel and Wire company Of
New Jersey, National Tube company,
Shelby Steel Tube company, American
Tinplate company, American Sheet
and Tinplate company, American
Steel Hoop company, American Bridge
company, Lake Superior Consolidated
Iron mines, all of which were organ
lied under the New Jersey laws, and
the II. G. Frick Coke company, Ten
nessee Coal and Iron and Railway
company and the Great Western Min
ing company are named as corporate
defendants.
Iron Ore Lease illegal.
The steel corporations lease of the
Great Northern railways ore proper
ties, which the directors Of the steel
company formally decided to cancel,
is alleged to be Illegal. This action
of the directors was taken but a few
hours before the filing OF the bill.
The government acknowledges that
was advised Of the steel corpora
tons Intention in this respect, but
that under the terms of the
lease no cancellatiop would be enec-
tive until Jan. 1, 1915, and there Is
no limit upon the amount Of ore that
be taken out In the meantime.
Sensational allegations fairly topple
each other in the governments
petition, which is an equity proceeding
praying for injunction to estop con-
tinlanSe OF the alleged monopoly and
such other relief as the court may
grant.
The steel corporations acquisition
Of the Tennessee Coal and Iron com
pany during the panic OF 1907 is de-
rIared illegal and scathingly criticised.
The petition declares that IL. II. Gary
and Henry C. Frick misled former
Roosevelt when they told
him that but little benefit will come
10 the steel corporation from the
purchase"
"The president" it says, was not
made fully acquainted with the state
Of affairs in New York relevant to the
transaction as they existed. III he had
been fully advised he would have
known that a desire to stop the panic
was not the sole moving cause, but
that there was also a desire and pur-
pose to acquire control of a company
that recently assumed a positive posi-
ton of potential competition OF great
significance.
Took Advantage Of Situation.
eft is certain that the corporation
availed itself of the embarrassment OF
Moore & Schley New York brokers
who had large holdings of Tennessee
stockl at a most critical period and