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Show STEEL CORPORATION RMDjHTTOlEY J. P. Morgan Declared to Have Been Persistent Violator of Law. WASHINGTON, D. C, March 12. The United States Steel corporation . waa alternately al-ternately extolled and denounced today before the supreme court as arguments continued In the federal anti-trust dissolution disso-lution suit. Fair treatment bs- the corporation of customers, competitors and employees, without monopolistic or unfair trade pra-ctle.es, was claimed by R. V. Linda-bury, Linda-bury, counsel for the defendants. "An abnormal, illegal and irrossly overcapitalized over-capitalized colossal superc-omblnation of combinations.-' was how the corporation was characterized by Henry B. Colton, special assistant to the attorney general. Mr. Colton spoke of strong competition existing between the Carnegie, Federal and National companies before they combined, com-bined, a combination effected, he said, because J. F. Morgan and otners interested inter-ested feared disastrous competition involving in-volving lowering of priced. "The Morgans knew Carnegie was threatening to make it warm for them," he said. "The corporation took over all big, powerful competitors and completely outclassed those left outside. "Jt was a stock pool, a merger of stocks, with sr,6,OOO,O0O in profits to the promoters spoils so great that even men of their caliber were interested It had watered stock of $500,000,000. upon which S35.000.000 dividends were paid annually. an-nually. t "Carnegie himself would not ta.ke any watered stock; he stood out for bonds. "The men who put the corporation together to-gether have been most persistent violators vio-lators of the anti-trust laws. Morgan put together the Northern Securities company which was dissolved by this court." f ' |