Pine Bluff daily graphic., 1920-03-02
SUPREME COURT NOT
 n DlSs0I. VI THr:
 STEEL CORPORATION
In FOur-tO-Three Decision Tribunal Rules Against
 Plea
CHARGE Or ANTITRUST
 VIOLATIONS DROPPED
Steel Corporation Thus is Branded as a Good Combination with it's Legality Firmly Es-
 tablishcd

Washington, Mar. l.-ln to ] decision today the supreme court refused to dissolve the United States Steel corporation and it's numerous subsidiaries comprising the "so- called steel trust" The govern. ment's long fought suit for dissolu- tion of the iron and steel trade com bination for alleged violation of the Sherman antitrust law was dismiss ed, with absolution for the corpora tion from all existing charges.
 Placing the high courts "ok" on the steel corporation were Chief Justice White and Associate Justices Mckenna, who announced the ma Jority opinion, Holme sand Vande- vanter. Justice Day gave the dis senting opinion, which was joined by Justices Pitney and Clarke. Justices McReynolds and Brandeis took no part, the former having been attor- ney general during the litigation and the latter having expressed opinions regarding it before appointment to the bench.
 Primarily, the decree official ly brands the steel corporation as d good combination" with it's legality established.
 Further, the court held that mere slze, bigness or preponderence in in dustry or corporate combinations is not alone sufficient cause for their dissolution.
 The court also gave new and far reaching judicial interpretation or application of the Sherman law analogous to it's famous "rule of reason" in the Standard oil and tobacco trust cases, by declaring that public interest must be considered in applying the law. The public inter. est, it was held, would not be serv- ed, and might be injured by dissolv- ing the steel concern
 Dissolution of the corporation and it's principal subsidiaries was urged in the spirited dissenting opinion. The minority declared that the anti trust law was violated in it's organi- zation; that there has been ."open notorious and continued violation" of it's provisions and that approval of illegally born combinations wwould practically annul the Sherman law by judicial decree"
 Victory for Firm.
 Declaring that mere size of q cor poration providing it's genesis is le- gal, is not inhibited, the minority vigorously disapproved the new Sher- man law ruling requiring judicial consideration of the public interest Such conclusion, the dissenters de- clared, necessarily results in prac- tical nullification of the act itself"
 The decision was a complete vic- tory for the corporation and it's 180 subsidiaries said to compose the worlds greatest industrial combina- ,tion with assets of more than two billion dollars. It also dismissed proceedings against score of mil lianaire individual defendants, in cluding Chairman Gary of the corpo- ration, Charles M. Schwab, John D. Rockefeller, the late J. P. Morgan. Andrew Carnegie, Henry c. Prick and other. Against these the govern ment had asked injunction against illegal acts.
 Also the decree of dismissal mark ed utter rout for the government in its suit, which was begun in 1911 in the New Jersey federal court and which has been one of the longest, most voluminous and most costly proceedings in supreme court annals.
 The case the records of which fill small room, was twice argued in the high court in March, 1917, and again last October. A trustee sus- pending section during the war was agreed upon in 1918.
 Although today's decree leaves the government free to bring new pro- ceedings against the corporation for specific and present practices deem- ed in conflict with the anti trust law, department of justice officials declared no thought had been given to future action. Pending study of the opinions, Attorney General Palmer and other department off cials withheld comment.
 In it's appeal, the government con- tended that to sustain dismissal of it's suit by the sNew Jersey court would result in licensing enormous corpor- ations, which fall just short of com plete monopoly and would place the courts stamp of approval on develop ment on industry by combination in stead of competition.
 Monopoly Not Achieved.
 To sustain it's decree that the steel concern is good" combination, the majority today found that it controls about half of the American iron and steel trade, including mines, mills, railroads, ships and ore fields. Mo nopoly, the opinion declared, has not been achieved. It's power over prices, the majority also declared, is un- equal to it's proportionate production.
 Good conduct of the corporation towards it's competitors and custo mers was emphasized by the majority who held it has not oppressed com petitors or dictated prices. That conduct of steel concern parallels the oil and tobacco trusts" was de- nied by the majority, which declared the latter had been found guilty of illegal practices up to the time of their dissolution, while any illegali- ties of the steel combinations or ganization were transient in their purpose and effect" and since aban- doned. In this connection reference