Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-08-11

Interest and general approval are
| evident in comment on the Federal
| Trade Commissions decision TO in
quire into any relationship of the
| United States Steel Corporation, the
| General Motors and the Du Pont in
| terests. The purchase of steel shares
| by the Du Pont Co, which already
had bought largely of General Motors
| stock, gives rise to a feeling that the
| Government ought to be fully In
! formed even though the public nova
days is not disposed to condemn out
of hand all big business mergers and
| combinations.
"It is just as well to know what is
going on when. with the mutual at
| traction of great bodies for each
other. such concerns as these show
symptoms of growing together" says
the Duluth Herald, as it quotes
"rumor" to the effect that 'it means
| n sort of marriage of the octopi is
going on, and that these three large
concerns are growing so closely united
through common ownership of stock
that presently they may be function.
ing virtually as one" The point of
view of the Richmond News-Lead der
Is that eff there be in prospect a
merger or even an understanding that
will affect the Du Points, General
Motors and the Allied Chemical and
Dye Corporation, then obviously the
Department of Justice should be on
the alert But if the matter is simply
one of acquiring minority stock in
terest," the Virginia paper asks,
what can the Government do about
it, and why should it do anything"
1.-THE nature of any linking of the
IS {{1vN
such as the Du Pont and the Steel
Corporation does not by any means
solely concern these companies and
their owners" argues the Brooklyn
Daily Eagle, which further declares
that these concerns have much to do
with the course of the steel industry
and, through Du Pont interest in Gen
eral Motors, with the motor-vehicie
industry as well. In both respects
they touch the welfare of very large
body Of consumers, direct and indi-
rect" Stating that "the policy of the
United States has been for upward of
40 years to prevent monopoly" for the
good Of the people, the Fort Wayne
Journal-Gazette says: "It may not be
beside the point to observe again that
the sole end of this big experiment in
democracy is not to foster business.
lueT6 were III lnS USEiiIiiiIiS SpfIlS
political objects. 1t might be we'll to
keep them in mind"
The Providence Evening Bulletin
considers that "the necessity for in
telligent and reasonable public regula-
ton is becoming greater with the
years. and that it is ''as important
that public regulatory laws shall keep
pace with the expansion of American
industry as 1t is that abundant capt.
tai and an adequate supply of raw
materials be always at hand"
In the opinion of the Atlanta Con-
stitution. "any notion that these three
great combinations might amalgamatc
to form a REORGANIZATION is prod
uct of ill-informed imagination. Mer-
gers are necessary. They comport to
the fundamental principles of prog
ress. but this particular apprehension
Ia out of reason" The fact is, con-
tinues the Constitution, "such an
amalgamation would be contrary to
the laws of present-day corporate
power and interest"
Although such expansion as has
taken place in the activities Of the
Du Pont interests does not seem to
result in any immediate tendency
toward monopoly, nor does it. so far
as one can see. conflict with the law"
the New York Journal of Commerce
thinks "it does, nevertheless, suggest
the possibility Of sort of financial |
dominance that, If permitted to pro- |
gress unchecked, might some day pro- |
duce a type of superbusiness control, |
of which the present leaders OF big |
business have enjoyed only q vague |
foretaste."
The Durhxyu Sun. which sees the
-