New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-06-05


Try Telegraph to TIE Tribune
Philadelphia. June 4 Men in every
business agreed to-day that the dc
cision by which the government lost
its suit 10 dissolve the United States
steel Corporation was q forcrunncr Of
real boom which would bring re-
ncwcd prosperity 20 the country.
Delegates attending the conventions
here of the American Supply and Ma
chincry Manufacturers and the Ma
: tlonal Supply Machinery Dealers con
fdently predicted Il boom which would
, reopen factories closed by business de
preston. They also forecAsted q bust
ness increase OF more than 200 per
cent
Percival Roberts, IT,, director Of
the Steel Corporation and one of the
defendants in the suit, saw O new era
in the steel industry and benefit TO
business as whole. Nathan Folwell.
president Of the Manufacturers Club.
and Alba Johnson, president OF the
Baldwin Locomotive Works, we're SINH
larly optimistic.
Will Relieve Uncertainty.
Naturally, RS a defendant, feel
very much Gratifed that the decision
was in favor OF the corporation said
Mr.. Roberts. aside from this, | be
ieve it is Of great importance 70 the
whole country and will relieve much
uncertainty. | believe il will mark TIE
/ starting point for renewed prosperity
81 am opposed to the government
| interfering with business all the time
/ Mr.. Folwell said. Such investigations
and suits make capital timid and cause
investors to withhold their funds. In
order to thrive business must have a
freer hand, and believe the decision
opens the way for this"
81 think the court has rendered {
most intelligent and broadminded de
cisioa," said Mr. Johnson. at is baseC
on broad commonsense, and will be
most encouraging to the country
business interests
Nearly every big business will have
a serious interest in the decision.
said Henry Esling, secretary OF the J
G.. Brill Company. 1--WE, as car build
ers, are pleased with the action o.
the court, even though our industr!
has been thriving"
Inspection Of the text OF the opinion
in the steel suit shows that the cour
did not touch on all subjects in TIL
governments complaint One of tn
allegations not discussed was that tn
syndicate which promoted the stee
corporation had received exorbitan
fees for organizing the concern.
Trend Is Different Now.
An interesting paragraph in TIT
opinion not covered by the sbstrac
given out yesterday by the cour
touched on the combinations OF stee
companies prior to their absorption D.
the steel corporation in 1901, and tn
effect Of the creation Of the big con
Germ on the steel trade in the tel
years up TO 1911, when the suit wa
instituted.
"A study Of the proofs satisfies US,
says this paragraph, that, apart fror
all the ethical questions, the stron
trend of the steel business at the clos
Of the last century was toward drlvln
competitors out Of business by cuttlr
prices. and that the business polio
inaugurated by the steel corporation
and in which policy its competitor
subsequently followed, has resulted D.
the ten wears of its existence, mrs.
in A more general division of bushes
between all competitors in the stee
business than under the old system
second. in tending TO minimize IN
shutting down Of it's own and its CON
pettors' plants in time OF depression
and. third, il has made steel product
! n-speculatlve.