Norwich bulletin., 1920-03-02
United States Steel Corp. Not a Trust

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 Washington, March 1.--The United States Steel Corporation, the world s most gigantic industrial concern, is not trust within the meaning of the Sherman law. the supreme court held today.
 The court also held that the corpor-: ation need not dissolve.
 The decision was defeat for the government which brought suit sew. eral years ago in which many of the biggest. figures in financial and indus trial life were named.
 New Jersey courts dismissed the governments suit and supreme court .todoy affirmed this action.
 Among tile names brought into the suit were: Roosevelt, Hartman. J. P. Morgan, ST., and IT,, John D., Rocke- feIIer, Sr.t and Jr..s Andrew Carnegie, Charles. M. Schwab, George ". Per kins James. J. and Louis w. Hill and H. c. NJ. Prick.
 Justice McKenna read the opinion of the court.
 The vote of the court was four to l three, Chief Justice White. Justice Mo l Kenna, Holmes and Van Devantei | were the majority. Justices Pitney | Day ad Clark dissented. Justices R ! McReynolds and Brandeis took nj | part in the decision,
 Included also in the list of defend ants were the following corporations The United States Steel Corporation the Carnegit Steel Co.,, the Fedora Steel Co, the American Steel and Wirt Go. of New Jersey, the National Tub Go, the American Sheet and Tinplat
 Co., the American Tin Plate Co.,, tn American Bridge Go, the Lake Supe 1 rior Consolidated Iron Mines, H. c. M
 Prick Coke Go. Clairton Steel Co
 Tennessee Soal, Iron and Railroad Go
 the Great Western Mining Co.
 Corporations and individuals name
 defendants in the governments sui were charged with constituting 0 causing ali illegal combination to fur : ther a monopoly. The alleged mo
 nopoly'' started 19 years ago. whe some of the financial minds of tn ; country conceived the idea of formin d gigantic steel company, to elimin ate individual control and to merg
 the principal steel companies of th
 country into the one great corpora
 tion. it was charged.
 Between 1898 and 1900 nine bi companies - principally the Carneg - CO, valued at. $320 900 oOo-wei . merged. Their stocks totalled $500 t G00,000. Dissenting Opinion. = The dissenting opinion of Justit ,. Day, concurred in hv Justices Pitne e and Clarke, declared:
 This record seems to leave no ia 7 room for a doubt that the defendant j. the United States Steel Corporate
 and the several subsidiary corpor: Q tions which make tip that organizs . ton. were formed in violation of Il I Sherman act I am unable to acce, f the conclusion which directs a disrni 9 sal of the bill instead of following u
 we'll settled practice, sanctioned $ previous decision of this court, r . during the diesoliItions made in dire = violation of the law.
 g Tt appears to be thoroughly e = tablished that the formation of u e corporations, constituted con s binations between competitors, in v y olation of law, and intend to reno : competition and to directly restra d trade. I agree with the conclusion r of Judges Wooley and Hunt, express y in the court below, that the combin = tions were not submissions to bus = neess conditions, but were design l. to control them for illegal purpose $ regardless of contemporaries. y Those judges found that the co it stituent companies of the Steel coruo 0 ation; nine in number, we're then e selves combinations of steel n1anufa
 turers, and the effect of the orga
 ization of these combinations was
 give a controE over the industry
 least equal to that heretofore DO sessed by the constituent compani ,+ and their subsidiaries.
 ~ '"The enormous over equalization
 companies and appropriation of $10i 000,000 in stock to promotion expen q es were represented in the stock ] e sues of the new organizations tn 0 formed, and were the basis up
 which large dividends have been q