Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1915-06-04
Not Guilty. as Charged by
Government, Of Forming a
Combination in Restraint of
Trade, Says Opinion,
|. C. & |. GHOST LAID BY
UNANIMOUS DECISION
Purchase Is Regarded asI
Merely Business Transac-I
ton, Entirely Legitimate in.
Scopei BignesS No Crime

sion lu the united states steel cor
poration suit WAS filed in the United
States district court this afternoon. II
held that the corporation should not
be dissolved. The principal points in
the decision are.
II rcfu SOS TO issue any Injunction
It holds the foreign trade of the
steel corporation is not II violation of
the sherman law
II holds certain pricefixing ar
rangements which followed the Gary
dinners, but which stopped before the
bill was filed, to have been unlawful
II allows the government to move to
retain jurisdiction of the bill II such
pricefiXing practices are renewed, but
suggests matters may now he con-
trollcd by the new trade commission
The opinions. two in number, are
largely "A discussion of whether the
steel corporation monopolized the
steel trade or dealt unfairly with COM
pett0rs ar purchasers.
The opinion says.
Defines What TRUSTS Are.
This case, "A proceeding under the
sherman antitrust law, is one largely
OF business facts
II SAYS all the trust cases thus far
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 or
the inherent nature Of their eontem-
r'ated act wrong the public hy nn-
duly restricting competition nr unduly
obstructing the course Of trade. 1t
further holds the question of fact for
the court to determine IS whether,
Il 4
pany was unduly restricting compeu-
tion or unduly obstructing trade in
the home market. whether II was re-
strcting competition or unduly OBJ
structing competition in the foreign
market. aud lastly had the steel cor
porati0n these objects In view when it
was formed in 1901, the opinion
holds the proofs show when the bin
was filed. the competitors Of the steel
company were doing 60 per cent of
the country's steel and iron business.
Not Size of Corporation
The test Of monopoly the opinion
says. Is not the size of that which is
acquired but the trade power of that
which is not acquired. In the ten
years since the steel corporation was
formed. It has increased it's business
about 40 per cent Nine great COM
peting steel companies have increased
theirs more. the lowest one SO per
cent, the highest $500 per cent
With the completion Of the Erie ca
nal. Lake Superior ores can be
brought cheaper To New York harbor
than to Pittsburgh This means, the
opinion SAYS, blast furnaces on New
YORK harbor waters. ON the basis Of
the actual iron units in ore, Cuban
ores can be delivered in Philadelphia
at one-half the cost Of Luke Superior
No Possibility of Monopoly
Facts and figures show that there
is no possibility Of Lake superior ore
monopoly
The Cambria steel company presi-
dent the opinion said showed that
the United states Steel could not put
it out Of business
James K; Garfield, former secretary
OF commerce. according to the opin
ION, showed the steel corporation got
no freight rebates
There we're two opinions filed in the
case. judge Burlington wrote the
opinion which was concurred in by
the other three judges. Judge Wooleg
a lsO wrote an opinion cuinciding with
the views Of Judge Burlington and
this latter opinion was concurred IN
by Judge Hunt, now sitting in the
United States court in New York city
Othcr Points of Dissent.
The field Of business enterprise 10
the steel business is as open to and
being as fully filled, by the competi-
tors Of The steel corporation as It Is by
that company
ono testimony has been produced
in this record that "A return to the old
trade war system of ruinons competi-
ton would as q matter Of fact benefit
tho public interests"
''rhe business Of both competitors
and the steel company has increased
very largely. but 1t Is highly suggest
i've indeed conclusive proof that the
steel company had neither monopo-
listic control nor power to restrain
trade since the proportion of trade in-
crease Was very materially greater on
The part Of the steel corporations
than it's own. These sig- !
nificant figures prove that mere size |
or bigness Of business is not neeessar- |
ly monopoly of business at the ex- /
pense of all others engaged in II"
Success and magnitude Of business
he rewards Of fair and honorable en- t
deavor. were not among the evils that |
threatened he public welfare and at
racted the attention of congress But
when they had been attained BY /
wrongful and unlawful methods ana |
had been crippled or de- I
stroyed The elements Of monopoly are |
present"
Foreign trade is not Il mere gen I
sral. theoretical abstraction Of selling I
lbroad, but is a concrete, definite, |
business proposition in /
ron and steel