Several conclusions of importance may be drawn from the court's
decision.
1. That Congress may forbid transactions of purchase and sale when such
transactions confer on an individual or group of individuals the power
to destroy competition.
2. No State can create corporations and confer upon them power to
interfere with interstate commerce.
3. The Sherman law is not to be interpreted as forbidding the reasonable
restraints of trade which are not objectionable at common law.
The Bailey case is one of importance by reason of the fact that the