Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-10-27
TRUST" NOT GUILTY
OF COERCION, STEEL
LAWYER CONTENDS
Severance Quotes Taft and
Gary, and Asks Court to
Ignore New Government
Economic Theories

Urging Judges Burlington, Hunt. Nc
Pherson and Woolley to eliminate any
new Government theory of economies
from their decision in regard to the
charges against the steel Trust" c. A.
Severance, of St. Paul, Mimi, arGuing
for the United States steel Corporation
today, in a forceful way touched upon
various phases of the operation of the de-
fendant company.
I'VE are not here to consider new
theories of economies" said Mr. Sever
ance, I'VE have been criticised unjustly
by the Government"
Every seat in the United States Circuit
Court of Appeals, in the Federal Building,
was occupied when the hearing was re-
sumed this morning.
The ST. Paul attorney cited various
United States Court decisions in different
trust cases. He denied that the steel
Trust or any of the $50 subsidiary COM
panies We're guilty of coercion
Referring to pools, the attorney said
that there were pools in this country
long before the Government began its
crusade against alleged violations Of the
Sherman antitrust laws. lie named the
plate pool, the tube pool, wire pool which
existed in the early eighties. Prices of all
steel products were quoted in court, each
price was accompanied with official rec
ords.
II was contended by the lawyer that
the present prices of all steel products
today were considerably lower than those
OF any other commodity.
Mr. Severance denied that prices went
up after the Gary dinner" movement
was inaugurated.
Discussing the attitude observed by the
Steel Corporation toward Its competitors.
a statement made by Judge Gary some
time ago was quoted
GARY STATEMENT READ,
The statement is as follows:
we have treated our competitors as
competitors We have pushed our busi-
ness and pushed It hard. Our competi-
tion has always been active and keen
and we have done business with our COM
petitors in a business way; but we have
treated our competitors as gentlemen
ought to be treated, At least that has
been our endeavor. We have been of
benefit 10 them whenever we could
II we have been dishonest or tricky
or mean in our treatment of our COM
petitors II has not been done with the
consent or knowledge of those in control
OF the analrs of the Steel Corporation.
its Board Of Directors, its Finance com,
mlttee or its Officers. We have tried 10
be frank and open with them. We have
admitted them 70 our mills. We have
given them our figures. We have frankly
STATED 70 them our business conditions in
detail, and in every way have tried to
give them the benefit of our experience.
50 that am Justified In saying we have
fosteIed competition
In olden days the rule in this conn
try was different in this line OF bust.
ness. / have no doubt the suggestion of
MT. Carnegie which was read In court
Few days since when | was present
Geferring to the Carnegie minute. slIprac
represented not only his views but the
views OF ms associates and the views
generally held among those who were
in charge of the iron and steel indus
Try Of this country. There was a com
petition that was bitter fierce, destruc-
tive"
TAFT VIEWS QUOTED.
A published article by ex-President
Taft on June ~ 1914 being one of a
series discussing the antitrust act, was
also read, TO the Judges
The former President was quoted a,
follows:
THE object OF the antitrust law was
10 suppress the abuses of business of
the kind described. II was not 10 in
terfere with a great volume OF capitaI
which. concentrated under one organI-
zation. reduced the cost OF production
and made It's pTohts thereby and took
no adyantage Of its Size by methods akin
10 duress TO stihe competition with IT,"