The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1917-04-14
bought by the holding Corporation in

bought by the holding Corporation in
1904.
Tennessee Coal. Iron & Failr0ad
Co., second largest holder OF iron ore
and coal in the country. Nearly all its
stock acquired BY the holding cOrpor-
alton for $&5.40T, 900 in 1907 with
President Rouscyelt's sanction. Ore
holdings estimated between 454 ,1SQ,-
600 and $1,000. 900 tons and two bill
lion tons of coal.
Great Western Mining Company,
the holding Corporation subsidiary
which leased go ,ll5,00O tons of Lake
Superior district ore from the Great
| Northern, or Hill. interests in 1907.
The lease WAS cancelled after this
suit.
Individual Defendants
Another group Of defendants, in
VOWED through the Hill ore lease,
/ comprised eighteen land and mining
corporations Of Minnesota and Wis
conSin and five individuals, President
Louis W. Hill OF the Great Northern
Hill. Edward Y. Nichols and ]. H. Cru
Der. AS TO these the prosecution was
virtually. abandoned, the Hill leases
having been voluntarily cancelled.
In addition eighteen individuals
prominent in forming the corporation
were named a. defendants. They were
The late J.. +. Mursan, Charles Steele
George W. Perkins, r. Ii. Gary. Char
les II. SchwaIb: Andrew Carnegie,
Henry G.. F'rick, James Gaylcy, VIII
liam II. Moore. j. H. Moore; Edmund
,C. Converse; percival Roberts. Jr.,
Daniel &. Reid; Norman Il. Ream, j..
d. Rockefeller, Jr.; tho late p. =. B..
Widencr, and William +. Palmer.
Against these the government asked
an injunction 10 prohibit actions re-
3tralnlng commerce.
Dominance in the whole iron and
steel industry, including the control
ut raw products, mines, mills, ore rail
roads and steamships, and output and
prices OF finished products was the
general charge against the corpora
lion and subsidiaries. e.
Gross and general oYcrcapitaliZa-
ton and "sCanualouS" promoters pro-
fits also We're alleged. "Water' in the
promotions was SAID 10 amount TO
$500, Uup,Uu0 and promoters profits
$lG5 900, 200, with dividends or $30D.-
0U0.VUQ paid IN ten Years on the vat
cred capitalization. Dl$nunIEnS or
ope rating piai.ts, sharp, general and
continued increase IN prices OF steel
coercion OF independent Competitors
i'll iiXlEg prices, lnIerioCklnS dlsector-
utcS ana rebatlng We're the other prac-
ices charged and denied.
Control Alleged.
Specifically, the government chars-
ed That me Corporation, as central
lied director ut The constituent bus
imeSs, controls the following percent
age Of principal branches: Ore. +I.9
per cent; pig iron, 50. ;; lngots, J5.6;
rails 5G.3: plates and sheets, 5V.i;
ruicd iron and steel, 5I.3, pipes, and
tubes, 10; structural steel, 81; tin
plate 6U.+ wire rods, So; hoops and
bands Il. .; and nails, 1913.
Particularly the government asked
dissolution, OF me holding Corpora
ton (Which merely holds constituent
companies securities and is NOT Il
business comlany); The American
Steel d Wire COMPANY Us Il cnmbina:
lion restraining trade in Wire products
1.-The American Sheet, X Tin Plate Com
pany, and its constituents. TeSpcctlVe-
ly. as combining tin plate and sheets
trade; the National Tube Company,
As restraint on tubular products trade
tho American Bridge Company, as a
combination OF trade in heavy fab,
rcaled structural steel products; and
the American Steel IiOQp Company. as
4 combination OF trade IL hoops, bands
and cotton tires. Other diSSN! uI'onS
of constituent Industrial br;tpcheS
were left TO the discretion Of the
court.
Normal and Necessary.
The combinations WcG" dHf2ndcH,
basically, as normal and necessary
business Developments" tpartiaily dac
10 transition OF the industry from iron
to stccN In the majority OF cases an
"dcbot1hlc" rs To others. The govern
ment alleged they were artIficial-by
bankers and not steel makcrs--neithcr
normal nor necessary and designed TO
restrain competition and trade f both