The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1889-11-09
A BLOW At THH TRUSTS.
The Meaning of the Sugar Trust
Decision in New York,
ITS FAR-REACHlNG EFFECTS.
It Concerns the Standard OIL Mon
opoly Quito as Much as Some
Others, and is Only the BE.
ginning OF the End.

New YoRK, Nov SIN an editorialon
the Sugar Trust decision, the Times says;
The meaning OF these decisions Ia that
the making Of so,called trusts by the
surrender OF the stock OF corporations TO
trustees will not be permitted In the
State OF New York, and, In effect, that
the trust plan must be abandoned in
other States, for the laws OF many othtr
States concerning the powers aud duties
Of corporations are like those Of New
York. Our statutes say that II shall be
the duty Of the Attorney General 10
bring action for the annulment Of the
charter OF any corporation whenever
such corporation shall have forfeited
lts charter by abuse Of Its pOwes,N or
"by failure TO exercise It's powers" or
whenever II shall have "done or omitted
any act which amounts to a surrender
Of It's corporate rights, privileges and
franchises" or Whenever II shall have
exercised franchise or, privilege not
conferred upon II by law"
Judge Barrett decided in the test case
against the North River Refining Com.
pany, one OF the Sugar Trusts CORPORA.
tons, that this corporation had violated
some or all OF these provisions by enter
ing the trust and for this reason its char
ter was forfeited and Its property placed
In the hands OF a receiver. He also
decided that the trust was an unlav full
combination, Tue general term deciu 8
that the governing object" Of the
Sugar Trust was such that II made the
association Subject To the condem-
,nation OF the law by which il Is denoun-
ced as a criminal enterprise"
BY entering the trust theNNorth River
Company "renounCud and abandoned
It's own duties for the transaction and
management OF its own business and
placed its interest and affairs under the
dictation and control OF board which
legally should have no power over il.
IL should be pointed out that every
other corporation chartered by the State
OF New York that has entered a trust
has thereby violated the law in the same
way and that its charter may and should
be annulled by the courts. The White
Lead Trust embraces two or three we'll
known corporations In this city. The
American Cotton Oil has ono corpora.
tion in this city and others ia other
States whose laws are similar 10 those of
this State. The Standard Oil Trust em-
braces several corporations in this State,
the largest being the Standard Oh Conn
pany Of New York. All these eorporO-
tions, 1t they hold charters granted in
this State, are held by these two decl.
slons TO have forfeited their charters.
1t will be the duty Of the Attorney Gen.
eral to proceed against such corporations
W soon as the test case shall have
reached final decision. There seems
TO be no probability that the decisions
already made will be sustained by the
Court Of Appeals,
General Pryor, associate OF Attorney
General Tabor in the suit, said last nip6t
that in his opinion the decision Of Inc
general term meant 1isintegretation Of
tho Sugar Trust without further appeal.
"The decision" he said, ''applies 10 every
refinery in tue State belonging 10 the
trust, aud we will fight this trust and all
Ot these trusts to the bitter end.l 1t was
after q long consultation that we decided
70 begiR. with the Sugar Trust. But The
Standard Trust Is just as much concerned
IN to'day's decision Us th Sugar Trust.
1t also has New York corporations asso.
ciated with 1t, and tho Standard ppople
have known all along the effect OF Judge
Barrett's decision against the North
River Sugar Refining Company"