Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1914-10-20
ASKS DISSOLUTION
OF STEEL TRUST

cree that Andrew Carnegie was a
party to the unlawful combination of
properties through the United States
| Steel Corporation, and took the bonds
F., of the corporation with all the in
| firmities attaching to such participa-
| tion.''
Finally the court is asked to ap-
point receiver to take over all of
the properties owned or controlled by
the United States Steel Corporation
and its subsidiaries for the purpose
of making effective the decree of the
court; that the receivers recover from
the syndicate subscribers and pro-
moters and others who were parties
to the alleged unlawful combinations
the difference between the par value
of the stock received by them and
the cash value of the properties or the
services given therefor so that resti-
tuition, so far as possible, may be
made to the other stockholders.
Counsel who appeared for the steel
corporation and will speak during the
week are: Richard V. Lindabury,
Newark, N. j.; John G. Johnson, Phil
adelphia; c. A. Severance New York,
and David A. Reed, Pittsburgh.
George Wildwood Murray, New York,
will argue in behalf of John ID. Rookie
Teller and his son, along with Andrew
Carnegie, George w. Perkins, e. II.
| Gary, Charles NJ Schwab, Henry c..
| Frick and others.
The testimony taken in the case
| is contained in flfty-flve printed vol
umes, each an inch thick The gov
ernment's brief, q formidable paper
of more than 900 printed pages, which
has been filed, reviews the evidence
| In the case and argues the law points
| involved.
| The brief filed by the United States
| Steel Corporation reviewing the law
| which the government applies to the
case and also reviewing the evidence,
declares that what competition exist
ed among the companies acquired by
the big corporation was greatly linn
| tied. 1t is declared that the steel
corporations proportion of the coun-
| try's total production of finished
products in 1901. when the corporation
was formed, was only Sol per cent;
| that 1t has since been reduced to 45.7
| per cent. of the country's production
for all the markets of the world, and
to 400 per cent. of the total produce
| ton for the domestic market
| ITO Sltcl Col pOl SuPPly VI VI .
In the Lake Superior district consti-
tuted only 40 per cent. of the total
amount of ore in the ranges of that
district known in 1901, the brief
states; that the corporations present
supply there constitutes only IS per
cent and that of the total ores avail
| able for American iron and steel man.
ufacturers the ores of the Lake Supe-
rior district constitute a small frac-
ton.
Denies Suppression Of Competition.
In denying that the steel corpora
ton suppressed competition, the brief
states that the organization of the
company was but natural and nor
NAL development from existing trade
and manufacturing conditions.
The brief calls attention to the cor
porations successful efforts in build
ing up a large foreign trade for Amer
lean iron and steel products, and
states that the records do not show q
single instance of freight rebates hav-
ing been asked or given. by the stee
i corporation or its subsidiaries since
the organization of the big concern.
With respect to its employees, the
brief says the corporation has reduced
wages only once during the whole
period of it's existence; that this was
occasioned by severe business de
preston in 1904, and that since it,
formation the wages of the corpora
tons employees have been increased
on the average OF 1855 per cent.
The price of its products. the brie
continues, is shown to have decreased
on the average about IS a ton since /
was formed. 1t was also shown tina
the price of steel products, as com
pared with other commodities, tn
brief adds has diminished 1876 pc
cent. since the corporation wa
formed and since 1903 has been less Il
the United States than in either Eng
land or Germany.
The brief denies the allegations tina
the steel corporation took advantag
of the 1907 panic to acquire contro
of the Tennessee Coal and Iron Com