A history of the United States . en the United States Steel Corporation, organized undera New Jersey charter,purchased the stock ofeleven great companieswhich had control of threefourths of the steel indus-try, thus bringing underone management capitalaggregating $1,100,000,-000. In his first annualmessage to CongressPresident Roosevelt be-gan an attack on trustsand large aggregations ofcapital and followed it upby the successful prosecu-tion of the Northern Se-curities Company in this case a corporationorganized under the lawsof New Jersey by JamesJ. Hill and J. P. Morgan,for the purp
A history of the United States . en the United States Steel Corporation, organized undera New Jersey charter,purchased the stock ofeleven great companieswhich had control of threefourths of the steel indus-try, thus bringing underone management capitalaggregating $1,100,000,-000. In his first annualmessage to CongressPresident Roosevelt be-gan an attack on trustsand large aggregations ofcapital and followed it upby the successful prosecu-tion of the Northern Se-curities Company in this case a corporationorganized under the lawsof New Jersey by JamesJ. Hill and J. P. Morgan,for the purpose of holding a majority of the stock of the GreatNorthern and the Northern Pacific railroads, was dissolvedby the Federal courts as a violation of the Sherman anti-trust law of 1890. The dissolution of the holding companyfailed, it is true, to restore competition between the roads,but it convinced the people that competition could nolonger be relied on to regulate rates, and that governmentalcontrol of some kind was Theodore Roosevelt. 522 The New Nation In May, 1902, the miners in the anthracite coal region ofPennsylvania went on a strike to secure an increase in wages,Theanthra- ^ decrease in the hours of work, and the recogni-cite coal tion of their union. The strike involved 147,000^t^® workmen, lasted five months, and caused a general coal famine throughout the country. In October PresidentRoosevelt invited John Mitchell, the head of the UnitedMine Workers of America, and the presidents of the coal-carrying railroads, which constituted the coal trust, to aconference at the White House. Mitchell offered to submitthe miners claims to an arbitration commission appointedby the president, but the railroad presidents flatly rejectedthis proposal and urged that Federal troops be sent into thecoal fields. Meanwhile the president was being severely criticized fortaking action in a matter deemed wholly beyond his con-stitutional functions and for encouraging the miner
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