Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1912-02-28

Relating 70 restraint OF trade
there are fourteen conclusions .s,,ae
report. one of which deals with PEE
centages of business done nv the
corporation. and in which the oTl
and other holdings are discussed
"Hercentasos OF the business dom
by the United States Steel Cornoru-
ton. The report saws. are dece,,
inF and misleading unless seer sgstel
with reference 20 narticii-ar products
For example. Mr. Roosevelt refers 10
an estimate that the United State
Steel Corporation did not have above
so per cent ~ steel properties o
steel holdings. and when he va
asked II Cary anad Prick tat 'hc
tire Of the purchase Of the Ten
ncssee Coal 4 Iron Coz said anythin7
about the ore properties hat the
we're huving NJ that time. he answer.
ed They did not 20 into d,tai.s n
all. and he also stated that he un-
derstood they were gcine 70 buy the
Tennessee Company's plant
II this estimate % GO per cent re.
fers to property and investment IN
the steel business It NAV be noted,
In that wear N107l. that the total
property ~ the Bethlehem. Cambria
Colorado I.ackawara, PENNSYLVANIA
and Tennessee Companies added To
the capital stock OF tones & Laugh
hin tbecause statement Of property
is not availahlel amounted 10 $500.
/ 7GS.SS9. these companies being tho
only important concerns In the steel
/ business In the United States. nut
side nf the United states Steel Cor
poration. THIS amount added to tina.
oi the United States steel Corpora
ticn equals a grand total Of sl.Sll,-
| GO6.3}9. 90 which the property ac-
count of tho United States Steel Cor
poration amounts 10 sl.4i5,S37,ii"
or about so per cent"
Conclusions in the repori bearin-
on restraint Of trade are embodied IN
fourteen sections. some containing
yoluminOuS Q1otations from the min
utes If meetings Of the corporation
ana Of the subsidiary comOanies
Summarized the report concludes
Competition between previous
cor peting co1ccrns was terminated
by the concentration of the contro
of upwards of lS9 corporations Int
one security-holding company know
as the United States Steel Corpora
ticn
The United States Steel Corpora
ton Is merely a holding company en-
gaginr IN TO business EXCEPT the con
troll through stock ownership NJ IT,
subsidiary companies.
There were acquired and brorsh
under single control. upwards of ~
concerns In lines of business al'iei
with the steel-makig industry, IN
GLIDING ore owning and ming com
panies which are now rcstraine'
from competing the sale OF ore
transportation companies throus
consolidation OF which every possl
bility OF competition between thes
roads is prevented" pig iron plans
coal and coke companies, and man
others.
There we're acquired large nun
!, her OF major concerns at which w
i.aied valuations. succeeding sewers
increases in the capitalization G
u preceding interpretations, due,
some cases, 10 the greater conbina
, ton value or merger Of the consol
dation in which OF course the unit
combined we're restrained % an
competitive activity Specific ~
p stances are given u9deh the head Il
latinc To three processes OF combil
alton az follows:
The original combination OF IN:
ior concerns TO eliminate all poss
hilitv of competition Combination
$ admittedly or internally having 4
rect effect n remove competition G
in the accomplishment Of which n
removal Of competition was the d.
clarci or inferred object Of the col
soldation.
"Other ACQUISITIONS in related linz
of business for which no eXplanatio
> has been offered and none appeal
except the visible consequence, II
D removal OF such concerns from II
independent field.