New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-01-13
THE DEATH.KNELL OF TRIISTR


Tho eject Of Justice Barretts decision pronouncing
trusts unlawful and dangerous Is likely. unless tho
Court OF Appeals oyeruies him. 10 reach much further
than people suppose II applies OF course each OF the
other sixteen members OF the Sugar Rehneries Com
pany, which is the trusts distinguishing name. to
the North River Sugar Refining Company, against
which the peoples action IN this instance wss
brought The decision is that trusts. combinations OF
| capital (call them you win cannot lawfully be
formed, since tho effect OF their fusion OF forces is
tends 10 be. oppressive to the people, and since II
clothes the combinations with functions and powers
in excess Of those conferred by the Legislature. His
analysis OF deed is the analysis Of all. and
he practically rules that the objects OF q trust being
unlawful, document can be prepared by human
| SKIN under which the attainment Of those acts is
possible which Will stand the test Of tho law Tho only
motives for forming entering trust, obviously
enough, to cheaper the production, regulate tho
| output and maintain the price OF the manufactured
article at a figure satisfactory 10 the trade. Now.
says the court tho power TO do these acts IS deemed
in law hostile to the public interest. aud scheme
! which gives that power, tends 10 give H.
Is lawful. This sweeps away the foundations and
framework. also, OF every trust in the land. II It
| is sustained and confirmed IN other States, Il will
stranglo every of these curious monopoes. II II
| is sustained by the Appellate Court In this State
alone II Will practically have that result since tho
headquarters OF all the trusts are here
| Under this decision receivers must be .ap
pointed for each OF the seventeen refining COM
panles In the present Sugar Trust upon the sp
| plIcation OF the Attoney-GeneraL They have
| all done Just what the North River Company
did, They must all be dissolved Each link
posing chain OF combination must successlvcly be
oosed and from fraternity the companies must forth
with become competitors and rivals
"wnl Judge Barrctts decision stand 2" / asked q
| member Of the Supreme Court living In ono OF the
northern cities of the State himself Judge Of great
| reputation
Unquestonably,o he said. "There are few Judges
10 whom this Is a novel problem We have all been
considering IL for a long while. What they call the
trust deed has been an object OF judicial curiosity
for years. All Of us naturally anxious TO know
under what sort OF agreement these gentlemen
undertaking to accomplish ends which We all recog-
nized as unlawful under the common law. In the
evidence before Judge Barrett the text OF one OF those
Instruments was produced. This particular deed has
been the model OF all that have been drawn later. It
represents the ability OF Of the most astuie lawyers
of this generatiOn-JOhn Il. Parsons. 1 can't say
think II does Mr. Parsons much credit and for this
reason IL leaves the slgDatory corporations open 10
the killing blow which Judge. Barrett gives them
when he says that tho acts complained OF must be
garded as corporate acts. since they accomplished
by corporate means. The defendant claims, you
know that the trust Is not formed by the corporations
but by the individual members OF them individuals
II this be true, 1t follows that they cannot be re-
strained or punished under the laws regulating cor
porations. This action is brought to dissolve
poraon for abusing its license. II the abuses alleged
| were committed, not by tho corporation but by IN
| diyldua members OF H. Of course you cannot punish
| the corporation. Now says the defendant I'VE
| did not as a corporation, do these things at all
We did them az individuals That's all very well to
| say, replies the court, but where did you got the
| money by which you acquired your propertyf Where
did you get tho profits you did not contribute 10
earn All your corporate acts were in obedience
| TO the rust Your conduct gives the lie TO your
claims This is whore Judge Barrotrs decision Is
| particularly strong"
swhy do you feel so certain the Court of Appeals
will not take contrary viewl'
Because there Is no ground either In the law or
| the facts upon which they can take IT, Judge Bar
| rett hes done nothing novel strange fIe has
! not made any new law. He has simply applied TO
condition the rule Of centuries. There Is ground
| upon which he be reversed, aud but one IN
| my Judgment II the Court Of Appeals Is satisfied
| that under modern social arrangements no danger
! arises to the people from combinations Of thu