WAR AGAINST TRUSTS.
AMERICAN STEEL COMBINE
SUIT FOR DISSOLUTION.
. By Telegraph.Press Association.J - ■ Washington, October 27. ThE Federal Government- has planned a suit to break the Steel Trust. The hearing of a preliminary petition has been begun .at the Trenton (New Jersey) Circuit Court. y The Government demands the dissolution of all the subsidiary companies as well is all the constituent companies. Thirty-six subsidiary companies have been named as parties to the suit. •' The petition declares that Messrs. Gary and Frick, directors of the Steel Trust, misled ex-President Roosevelt regarding the purchase of the Tennessee Coal and Iron Company.
PANIC IN THE MARKET.
DROP IN STEEL SHARES.
(Received October 29, 5.5 p.m.) New York, October 28. The United States steel shares fell eight points to-day, causing a panic, In the early moments of which trad- , ing reached enormous proportions. , Other issues were also seriously ■ affected.
The demoralisation is solely due ■ to tie announcement of the Government's anti-trust suit.
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Bibliographic details
New Zealand Herald, Volume XLVIII, Issue 14824, 30 October 1911, Page 7
Word Count
157WAR AGAINST TRUSTS. New Zealand Herald, Volume XLVIII, Issue 14824, 30 October 1911, Page 7
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