ABSTRACT
Trusts apply to industrial combinations, manufacturing corporations in particular, with such technical and financial powers as to dominate in some line of production. The legal concept of the word should wait for treatment until after a discussion of the pool. Competing manufacturers have formed pools, some of which have accomplished good. The fixed capital of a railroad is large and its particular cost for moving a unit of freight is negligible, so its interest lay in getting a large volume of freight even though the rates were low. Hampering legislation has endeavored to enforce competition among railroads, even though the laws of economics necessitate combination. The word trust in its economic sense has been defined, and it is in this sense that the word is used. The purpose of trust legislation is to declare a public industrial policy and to provide the means for making that policy effective.
