The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-10-28
Defends ROCKEFELLERs
ON CONSPIRACY CHARGE
Attorney for Steel Corporation Gives
Them Clean Bill of Health
as to "Trust."
NAMES ADDED FOR "sCENERY'
Counsel Combats Charges OF Govern
ment That Meetings. of Operators
We're Held for Purpose of Control
ling Prices-Not Guilty OF Pools.

PHILADELPHIA, October 27.--David
y. Reed, OF Pittsburgh, concluded his
argument for the defense to-day IN
the Federal governments dissolution
suit against the United steel Corpora
ton. brought under tho sherman anti
trust law. He devoted the closing part
of his address to the trend OF prices
since the Steel Corporation was organ
lied, and submitted charts tending to
show that the purchasing power OF
iron and steel as compared with other
commodities has steadily fallen with
the exception OF two or three years,
since 1899.
DENIES CORPORATION
CONTROLLED PRICES
This showing, nc argued, refutes the
governments charge that the Steel
Corporation controlled prices.
Cordenio a. Severance, OF 81 Paul.
followed Mr. Reed. also on behalf OF
the steel Corporation. He spoke on
what tho defense contends Is tho fair
mesa and extent of competition by the
Steel Corporation. It's lack OF power
to control prices and It's lack OF power
to exclude competition from the steel
trade.
Mr.. Severance touched on the pools
In which the Steel Corporation was 4
participant for number OF years after
the concern was organized He said
~
them as they were In existence before
the corporation was formed.
Counsel for the defense combatted
tho government charge that meetings
Of steel manufacturers. which included
both the steel corporation and lnde-
pendents. were held TO control prices.
Nothing was done At these meetings in
the way OF controlling prices, he said.
and there IL nothing In the law to
prevent business men from getting to-
har nd fnlL Ingy lt,ut
ditions.
George Wildwood Murray, Of New
York. opened the afternoon session or
The court in defense OF John d.
.rr, named az individual defendants In
the steel suit. In 1901 John d. Rookie
teller owned 25-29ths Of the Lake Su-
ptrior Consolidated Iron Mines, which.
In turn. owned the stock OF the Duluth.
Missabe and Northern Railway. He also
owned entirely the Bessemer Steamship
Company. When the Steel Corporate
was formed Mr.. Rockefeller sold the
mines. tho railroad and the steamship
company to the corporation for about
$4,000. 900 and the two Rockcfellers
became directors In tho Steel Corpora
ton. The government charges that the
sale OF the properties. the corporation
and the Rockcfellers becoming dircc-
tors. makes them consDirators In the
formation and oreration OF the alleged
trust.
Mr.. Murray declared that the Rookie
fellers had nothing to do with the or
sanization of the Steel Corpor ,tipn;
that they simply sold their interes 3 10
1t. and that the government put the
rnmc of Rockefeller In the list Of Steel
Corporation defendants, probably to
add drapery and scenery TO Give effect
10 the suit"
Mr.. Murray said when the Steel Cor
roration was organized, j. =. Morgan
called John y. Rockefeller and
asked him IL he would sell his orc in
tcrests. Negotiations followed and the
sale was made in the course of time.