New Britain herald., 1915-06-04

49,
appeals The next step in the case
will be the filing of a formal decree
, and the government will probably
then take an appeal to the supreme
court.
Judges Agree as to Order
Judge Burlington wrote the prin-
cipal opinion and Judge Woolley
wrote a concurring opinion in which
Judge Hunt concurred, The court
stated that "all the members of the
court are in agreement as to the de-
cree that will be entered, although
they are not in complete accord con-
corning every step by which that re-
suit is reached" ~
The opinion covers $50 pages. It
was filed here and abstracts were CIV
en- out In Trenton and in the United
States court at Philadelphia, where
the case was heard. .
The opinion of Judge Burlington,
apart from brief summary of the
law at It's beginning, is a discussion
Of the business of the steel corpora
ton covering the ten years OF It's ex-
istence up the time the suit was
filed, the acquisition of its home and
foreign trade, and the proofs as to
whether it has restrained or sup
pressed competition or been guilty of
acts to warrant its dissolution.
Discussing the law Judge Buffing
ton says the construction of the Sher-
man law was settled by the supreme
court In the Standard Oil and the to-
bacco cases, \ The opinion shows that
In discriminating what are the unlaw-
full restraints and monopolies against
which the Sherman act protects trade
"-~,. 49,
it's trust decisions by stating in
late case that these cases may be
taken to have established that only
such. combinations are within the
act as by reason of intent or the in
herent nature Of the contemplated
acts prejudice the public interests by
unduly> restricting competition or un-
duly obstructing the course Of trade"
Outgrown by Competitors.
Judge Burlington then discusses
the American trade Of the corpora
ton, and shows that so per cent of
the steel Of this country is produced
by the Steel company's competitors,
and that in the ten years since 1t was
formed, while its business has in
creased much faster.
After Quoting the testimony both.
Of the steel company's competitors
and of consumers using its product.
the court says:
We have carefully and patiently
studied the yoluminous testimony
bearing on the general course of all
branches Of the steel trade covering
the whole time the steel corporation
has been engaged in such trade. The
testimony covers proofs by it's man
ufacturing competitors in all
branches, and also the different
classes of customers whose trade 1t
and its fellow-competitors seek. 1t
is apparent that among this latter
class-that is, the consumers of it's
productive would naturally find ev-
idence of any throttling of competi-
ton or any undue restraint of the
steel trade.
No Lack of Competition.
No one can read the testimony and
fail to be satisfied that this great
body of business men, scattered over
all parts Of the country, in keen COM
petition with each other in their sew
eral lines, is alert in seeing that COM
petitive conditions exist between the
manufa cturers of basic steel products
from whom they buy, and the sworn
tally interested in the maintenance
Of real competition between the steel
corporation and it's manufacturing
competitors, that such real COMPETE
ton does exist and has existed during
the past ten years, cannot but car
nv a conviction that such is the case.
A study Of the testimony of these
men, who are close to and vitality In
terested observers OF the prices of
these products, shows that a single
large concern, by lowering the price
OF any substantial steel product it
sells. can depress the obtainable
price. IT further shows that the con-
verse is not the case: that no single
large concern, by raising or even
maintaining the price Of any sub
stantial steel product, can raise the
obtainable price. tr@
Discusses Foreign Trade.
The court then discusses the for-
eign trade OF the steel corporation
and shows that It had been built up
not by restraining or taking away the
trade .of others, but by creating It's
own It Is shown in the opinion that
when the steel corporation was
formed the American steel companies
had no dependable foreign trade.
Such foreign steel sales as were then
made consisted In what was known
or dumping steel at low prices into
as dumping that Is, In unloading
foreign markets when the American
market was ovcrsupplied.
OF the corporations 100000
of trade, the opinion says, $50, 100000
is done Is conjunction with 1853 other
American concerns, which companies
made articles the steel company did
not make, but got their basic sup
plies for making them from the steel
cornoratiOn,