Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-06-03
STEEL TRUST VICTOR
IN GOVERNMENT SUIT

Continued from PaRe One
the Gary dinners, but which stopped be-
fore the bill was filed, were unlawful
The decision allows the Government to
move to retain jurisdiction Of the bill IL
such price-hxing practices are renewed,
but suggests that such matters may now
be controlled by the new Federal Trade
Commission.
The United states steel Corporation was
formed In 1901. It Is the largest combina-
tion OF Industrial capital the world has
ever known. The Northern Securities
Corporation, dissolv; under Roosevelt's
Administration, the American Tobacco
Compay and the Standard OIL Company
dissolved under the Administration of
President Taft, all were smaller than the
steel Trust"
The decision was unanimous and the
Steel Corporation won on every point.
II declares that all the trust cases that
have been determined settle down TO this;
That only such combinations are within
the Sherman act as by reason Of the In
tent OF those forming them OF the In
herent nature Of their contemplated act
wrong the public by unduly restricting
competition or unduly obstructing the
course of trade.
In answer to the questions which the
court was to determine with respect to
whether when the suit was filed the steel
company was unduly restricting competi-
tion or obstructlng trade in the home
market, the decision holds that the proofs
show that when the bill was filed the
company's competitors were doing 60 per
cent. Of the country's steel and iron
business
on this question the opinion says "the
field Of business enterprise in the steel
tn aa to ,VNA hrtV r~
filed by the competitors OF the Steel Cor
poration as It is by that company,
The opinion of the court covers l5O
typewriter pages. Nearly two years was
spent in taking testimony. which covered
1900 printed pages and 1000 pages of
exhibits.
The keynote OF the decision is summed
up in this sentence:
This case. a proceeding under the
Sherman antitrust law, is largely one Of
business facts"
The decision says that all the trust
cases so far determined settle down to
this: That only such commissions are
within the Sherman act as by reason OF
Intent of those forming them or by the
inherent nature of their contemplated
act wrong the public by unduly restrict
ing competition or by unduly obstruc.-
Ing the course of trade.
II nolds the questions OF tact Tor the
court to determine were whether when
the bill was filed, the Steel Corporation
was unduly restricting competition or un-
duly obstructing trade on the home
market: whether 1t was restricting COM
petition or unduly obstructing trade In
the foreign market; and. last. the Steel
Corporation had these objects in view
when II was formed in 1901
The test of monopoly Is not the size of
that to which II has acquired. the Court
holds, but the trade of that which is not
acquired. In the 10 years the Steel Cor
poration formed 1t had increased its busi-
ness about 40 per cent Nine great COM
peting steel companies have increased
theirs more. The lowest was 63 per cent.
and the highest 300 per cent. The Court
also holds that the facts and figures
showed that there is no possibility of
Lake Superior Ore monopoly.