Items of Interest

The attorney-general of the United States has issued the following statement on the subject of the proposed combination of independent steel companies:—

"It cannot be questioned that if it was lawful to unite through the United States Steel Corporation one half of the competitive units in the steel trade, the other half would also have the right to combine. And of course what could be done in the steel trade could be done in every other branch of trade, thus virtually putting an end to competition. But the decision of the circuit judges of the third circuit in the Steel case is not as yet the established law. It is because of just such consequences that the Government is appealing from that decision. Besides, in the Harvester case a court of equal rank took a very different view of the law. The question is now pending before the superior court. In the mean time attempts to combine able and efficient competitors affecting trade over a wide area will be subjected to the closest scrutiny of the department of justice."

Modesty an Essential Virtue
October 23, 1915

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