New-York tribune., 1920-03-02
No Peril TO Public,
Declares Decision
McKenno Says Corpora.
ton Resorfed to No Bru.
taIities or Coerced RivaIs

WASHINGTON. March 1.-The con-
clusions OF Justice McKenna's majority
opinion in the steel decision we're:
1--WE are unable to see that the public
interest will be served by yielding to
the contention Of the government re-
specting the dissolution OF the com
pany or the separation from it of some
of it's subsidiaries; and we do see in
q contrary conclusion risk of injury
to the public interest, including a
material disturbance of and it may be
serious detrimenr to the foreign
trade. And in submission to the policy
of the law and its fortifying prohibi-
tions the public interes. is of para
mount regard"
Regarding the corporations practices,
court DEGREES, which, he said, the ma
lority of the high court indorsed, as
follows:
Resorted to No Tyrannies
ut resorted to none of the brutali-
ties or tyrannies that the cases illus
trate of other combinations. 1t did
not secure freight rebates; it did not
increase its profits by reducing tbs
wages of its employees whatever; it
cid not Increase the expense of labor;
1t did not increase it's profits by lower
ing the quality of its products, nor
create an artificial scarcity of them; it
did not Cypress or coerce it's competi-
tors--its competition, though vigorous
was fair; it did not undersell its COM
petitors in some localities by reducing
it's prices there below those maintained
elsewhere, or require it's customers to
enter into contracts limiting their pur-
chases or restricting them in resale
prices; 1T did not obtain customers by
secret rebates or departures from it's
published prices; there was no evi-
dence that it attempted to crush it's
competitors or drive them out of the
market, nor did it take customers from
It's competitors by unfair means, and
In its competition it seemed to make no
difference between large and small com
petltors. Indeed, it is said in many
ways and illustrated that instead of
relying upon its own power to fix and
maintain prices, the corporation. at its
very beginning. sought and obtained
the assistance of others'"
No Monopoly Achieved
Justice McKenna observed that the
lower Federal court was unanimous in
achieved.
And such is our deduction" he said
and 1t is against monopoly that the
otatute is dlrected, not against an eX-
pectation of it, but against it's realiza-
rion, and 1t is certain that it was not
realized. The power attained was much
greater than that possessed by any one
competitor; it was not greater than
that possessed by all of them. Monop-
oily, therefore, was not achieved, and
competitors had to be persuaded by
pools, associations, trade MEETINGS and
through the social forms of dinners. ali
Of them, it may be, violations of the
law, but transient in their purpose and
effect. They were scattered through the
years from 1901 (the year of the forma-
tion Of the corporation) until 1911, but
after instances of success and failure
were abandoned nine months before
this suit was brough@. There is no evil
dence that the abandonment was in
prophecy of or dread of suit; and the
illegal practices have not been re-
sumed, nor is there any evidence of an
intention to resume them, and certain
ly no dangerous proba ity' of their
resumption. 1t is our conclusion, there
fore, as It was that of the judges be-
low, tho. the practices were aban-
doned fren conviction of their fu-
tility, frcm the operation of forces that
were. not understood or were under
estimakfd, and the case is not peculiar.
Wha then, can now be urged