New-York tribune., 1920-03-02

Deen ucnleVed IN open, notorious ana
continued violation Of it's provisions"
II agree that the act offers no OBJ
lection to the mere size of corpora
tion, nor to the continued exertion Of
its lawful power when that size and
power have been obtained by lawful
means. But / understand the reiter-
ated decision of this court constituting
the Sherman act to hold that this power
may not legally be derived from con-
spiracies, combinations or contracts
in restraint Of trade. To permit this
would be practically to annul the Sher-
man law by judicial decree"
Day said that combination was "cer-
tainly not more obnoxious to the Sher-
man act than the court now finds the
one under consideration to be-"
"In the American Tobacco Company
case," Justice Day continued, ut was
there concluded that the only cffectual
remedy was to dissolve the combina-
ton and the companies comprising it.
Such facts were considered no valid
objection to the dissolution Of these
powerful organizations. These cases
court and in the lower Federal courts
and / see no occasion to depart from
them now.
GAS I understand the conclusions Of
ing dismissal of the bail, they amount
to this: That the combination, both
the holding company and the suhsldi-
aries which comprise it, although or
ganized in plain violation and bold
defiance Of the provisions of the act,
nevertheless are immune from decree
effectually ending the combination and
putting it out of their power to attain
the unlawful purposes sought because
OF some reasons of public policy re-
quiring such conclus.on.
II know of no public policy which
sanctions violation of the law, nor
of any Inconvenience to trade, domestic
Or foreign, which should have the eff
feet of placing combinations which
have been able to thus organize
one of the greatest industries
of the country in defiance of
law in an impregnable position above
the control of the law forbidding such
combinations. Such conclusion does
violence to the policy which the law
was intended to enforce, runs counter
to the decisions of the court and nee
essarly results in practical nullifica-
tion of the (Sherman) act itself.
ut (the act) was not intended to
merely suppress unfair practices, but,
as its history and terms amply show,
it was intended to make it criminal
to form combinations or engage in con-
spiracies or contracts in restraint of
interstate commerce.
Not Entitled to Immunity
"The court has held that the
proper enforcement of the act requires
DEGREES to end combinations by dissolv-
ing them and restoring, as far as pos
sible, the competitive conditions which
the combinations have destroyed | am
unable to see force in the suggestion
that public policy, or the assumed dis
astrous effect upon foreign trade of
dissolving unlawful combinations, is
sufficient to entitle it to immunity
from the enforcement Of the statute.
''Nor can yield assent to the propo-
sition that this combination has not
acquired dominant position in the
trade which enables it to control prices
and production when it sees fit to ex-
ert its power.
"That the exercise of power may be
withheld or excrted with forbearng
benevolence does not place such COM
hinations beyond the authority of the
statute which was intended to prohibit
their formation, and when formed to
deprive them of the power unlawfully
attained.
Should Enforce Dissolution
"It is said that complete monopo-
lzation of the steel business was nevey
attained by the offending combna-
tions. To insist upon such results
would be beyond the requirements Of
the statute and in most cases prac-
tically impossible.
st is affirmed that to grant the gov
ernmont'S reOueSt for q do
cree of dissolution would not result
in a change in the conditions of the
steel trade. Such is not the theory of
the Sherman act. We have
here a combination in control of one
half of the steel business of the coun-
try.
"It seems to ME that if this act is
to be given effect the bin should not
be dismissed, and the cause should be
remandcd to the District Court, where
a plan of effective and final dissolu-
tion Of the corporations should be en-
forced by decree framed for that
purpose"