The daily Gate City and constitution-Democrat. (Keokuk, Iowa) 1916-1922, 1920-03-01
BIGGEST CONCERN
IN WORLD WINS
(Continued from page ID

was taken to the supreme court. Argu-
ments were had before the supreme
court in March 1917 and restored to
docket for re-argument in May 1917,
and continued from time to time on
account of war conditions.
The opinion of the court declared
that the Steel corporation has aban-
doned practices the government con-
sidered illegal. The case was de-
cided on present conditions, the
court declared. Practices were ended
before the suit was brought, Nc.
Kenna said.
Our conclusion is that certain
practices have been abandoned on
the convictions of the directors OF
the corporation that they were
futile" the opinion said. "The gov
eminent cannot plead the fear of the
resumption of these activities. Since
1911 when the suit was brought, no
illegal act can be charged against it.
1T made no effort to fix prices. but
allowed them to follow natural con-
diti0ns. The competition was COM
petitive, genuine, direct and vigorous.
The government must have some
thing more tangible to force dfsso-
luton"
The government presented no real
plan for dissolution, McKenna said.
THE government bases its plan on
twenty years ago." ne said. The
American Tobacco and Standard Oil
cases were declared not to be similar.
ave are unable to see how the pub
lie interest will be served by yielding
to the government. On the contrary
we believe dissolution would risk
great damage to the public welfare"
The minority opinion, read by JUS
tice Day. bitterly attacked the major
ity.
THE irresistible conclusion is that
the corporation dominated the trade
to an extent unparalleled in the his
tory of the country" Day said, land
violated the antitrust law.
1T is combination Of $50 indie
pendent concerns. In several cases
it represents 80 to IS per cent of the
industry.
\ 1.-The decision today is in effect to
annul the Sherman act by judicial de-
cree. Congress must now review to
the act if it is to be effective.
1.-THE combination resulted in i'm
mediate increased prices. Some were
doubled with large dividends result
ing
The majority opinion said in part:
1.-The corporation was formed in
1901, no act of aggression upon its
competitors is charged against it, it
confederated with them at times in
offense against the law, but aban-
doned that before this suit was
brought and since 1911 no act in vio-
lation of law can be established
against it except its existence be
such an act. This is urged as we
have seen and that the interest of
the public is involved, and that such
interest is paramount to corporation
or competitor Granted-though it
is difficult to see how there can be
restraint of trade when there is no
restraint of competitors in the trade
nor complaints by customers,-how
can it be worked out of the situa-
ton and through what proposition Of
law? OF course it calls for nothing
other than right application OF the
law and to repeat what we have
said above: Shall we declare the
law to be that size is an offense even
though it minds its own business be-
cause what it does is initiated? The
corporation is undoubtedly of impress
sive act and it takes an effort of
resolution not to be affected by it or
to exaggerate it's influence. But We
must adhere to the law and the law
does not make mere size an offense
! of the existence of unexerted power,
I 1t, we repeat, requires overt acts and
trusts to it's prohibition Of them and
/ its power to repress or punish them.
| 1.-THE proposition and suggestions
| do not commend themselves. We dc
not see how the Steel corporation
can be such beneficial instrumen
! ta1ity in the trade OF the world ano
! it's beneficence preserved and yet be
| such an evil instrumentality in the
/! trade of the United States that II
! must be destroyed. And, by whom
and hoyt shall all the adjustments o
| the preservation or destruction BIZ
| made? How can the corporation be
- =