The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1914-10-23

dency, Mr.. Lindabury said that its
percentage of the country's iron and
steel business was not as large as 81
was when the concern was organized,
while on the other hand the percent
age of the business done by other steel
companies had increased.
Tennessee Coal and Iron.
The famous Tennessee Coal & Iron
sale was touched upon by counsel,
who denied that the corporation had
acquired that property for any other
purpose than TO assist in preventing
the spread of the 1907 panic. The
charge of the government that the
directors OF the Steel corporation haa
deceived President Roosevelt as to
the amount OF Tennessee stock neldl
bv the New York banking firm. when
was said to be in trouble during the
panic and whose Tennessee stock was
finally purchased by the Steel inter
est. was false and should never have
been injected into the present suit.
Mr.. Lindabury said.
Henry +. Cotton, special assistants
TO the attorney general, will begin
his argument tomorrow on certain
phases of the spit. Five lawyers are
st.ll TO be heard from on behalf of
the United States Steel corporation
before Mr.. Dickinson closes the case
with an argument in rebuttal.
The vastness of the steel industry
the ground to be covered in the argu-
ments, and the importance OF the suit
has led the court TO extend the time
for closing the case until next Tues
day.
Not a Monopoly.
Counsel in answering the charge
OF the government that the corpora
tion had monopoly in the production
OF steel and was restraining trade at
the time the suit was filed. read
figures TO the COURT to show that the
Steel corporations proportion of the
country's production OF rails. structur-i
al material. plates, sheet, bars, rods
and other finished rolled products in
1911 was 45.7 per cent
The court wanted to know whether
there was any dispute as to these
hgures and Jacob NJ. Dickinson, coun-
sci for the government. said that he
would not admit the figures showed
the corporations actual percentage OF
business in all lines IL manufactured.
Iron ore and Coal.
Mr.. Lindabury, hurying along in his
argument, denied that the Steel cor
roratiOn had no monopoly OF iron ore
in the Lake Superior district nor a.
monopoly OF coking coal. He said
that the Steel corporations supply OF
first class ores in the Lake Superior
district Is only sufficient TO last i'll
fGk years at the average rate OF ship
ment in i9O7-1i. as against a GO years
supply in the same district possessed
by other owners.
II was generally conceded by an
steel men. he added. that a successful
steel concern should have at least
nifty years supply OF ore in sight. ne
also said the corporations holdings
of coking coal are only sufficient for
q fifty years supply at the averaged
rate OF consumption during the last
ten years.
Freight Rates. -
Taking up alleged advantages the
Steel corporation has over competi-l
tors. Mr.. Lindabury said IL had been
stated by a government witness that
one advantage the corporation had
was In the matter OF the freight rates
II charges competitors and itself for
shipments Of ores over the railroads
owned by the corporation. Counsel.
while not admitting this to be true.
did not dispute the statement. but
said that the question Of these par
ticular freight rates was nov under
consideration by the interstate COM
merce commission and that n % ISL
found the rates are unreasonable theyl
will be corrected probably before al
decision r. reached In the present suit /
In concluding his address Mr.. Linda
hurry again reiterated that the United
States Steel corporation had been
formed for legitimate purposes and
for the legal development Of tho bust
ness. and not 20 mOnopolize the iron
and steel INDUSTRY or 10 stop the How
Of trade.