of Missouri admitted to a grand jury that he had been paid, while in office, $1,000 by the sugar trust for “literary services” and another $750 by the tobacco trust, and had been offered a similar amount by the baking powder trust, the drumbeat got more insistent. With each revelation the outlook for all the trusts darkened, taking the stock market lower, since the trusts signified cooperation and size, both of which led to higher profits. As the Supreme Court sat for arguments on December 14, 1903, the Dow was at 46.70, down 27.4 percent for the year and 25.0 percent since the verdict against
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