Brief for the United States (1914)

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Mil. 203 <'(»ii(l('iiiii,il ioii »»!' the ;ict. \\ Iiilc llir law may not Im al)l(' !<• ciifiii'i-f cDiiijK t il ion, it can reach combinations which I'cndcr c(»m{K'titioii imj)ract icahh'. iS/riff d Co. v. rnlfrd S/dh s, HMi [\ S., Mr). ) Nor do we think it can make any ditVerence that instead <d* resoi't iiiL!." t(» a holdinjir e()iiii)aiiy, as was done in the Xorl/trm Securities ('use, the c<>ntr()llini; interest in the stock of one eor[)oratioH is transferred to the other. The domination and eontrok and the power to suppress eoni])etiti<ni, ai-e acquired in the one case no less tlian in the other, and the resultiniJ mischief, at which the statute was aimed, is equally effective whichever » form is ado])ted. '('lie statute in its tenns embraces every contract or combination in the form of trust or otherwise or conspiracy in restraint of trade or commerce. This court has repeatedly held this general phraseology eml)races all forms of combination, old and new. ^'lu view of the many new forms of contracts and coni])inations," said the Chief Justice in the Standard Oil Case (p. 59), ''wdiich were being evolved from existing economic conditions, it was deemed essential by an all-embracing enumeraton to make sure that no form of contract or combination by which an undue restraint of interstate or foreign commerce was brought about could save such restraint from condinnnation.'' A more effectual fomi of combination to secure the control of a competing railroad than for one road to acquire a dominating stock int(a*(\< in the other,