The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1890-06-27
A Decision Handed Down
Which Declares the Have
meyer Corporation Illegal.
The Illinois Strike Renders the Fruit
Men Helpless Stocks Spoil
ing on Their Hands.
Sullivan and jackson to Fight on
Virginia Soil-'Frisoo Pugilists in
the Dumps---General News.
NEW Yonx. June %.

RN& AQ3As 1WhD &e
The Nav York court OF appeals has
handed down decision affirming the jndg-
meut Of dissolution against the North
River Sugar Refining company and declar-
ing the sugar trust an unlawful eombina-
ton. Confusion arose about this result on
the street because the court sitting at Sara
toga, had also handed down decision on
q subordinate point in the litigation an a
the news got out somewha, IN this order:
First, the decision is adverse to the sugar
trust; second, bat il is only on minor
point; third, but there In another decision
on tho main Issue which declares the trust
illegal. The price Of the certificates varied
slightly in accordance with these
items, but there was no trouble. Exactly
what plan the trustees have I'm hand for
rsorganixing the trust can as yet not be
learned. Those interested wanted 20 zee
the opinion of the conrt before speaking.
The procedure which 1t 10 supposed the
attorney general will follow will be 20 treat
each corporation in the trust as he has
treated the North River company and sue
for revocation Of lie charter. Gen. II. A.
Pryor. who was associated with the
MAAAAM3f MNU&t8A AZ tHN AtANA6t0As oWt0 ba
hearing OF ths decision: This was . test
suit against trusts. and the courts have
decided that trust to increase prices IL
not only Illegal, but that @ company BY
becoming q member OF such q trust
fnrfeits it's charter. We have been
Eaghting this trust for over two years
now, and am very glad the matter is
settled. The FIRST thing | did was TO
draw up bill for it's suppression, which l
presented to the Legislature, but it did not
take me long TO ind ont that our legisla-
tors in Albany were not as muoh opposed
10 trusts as was, so dropped that end
OF the matter. Then tried the Law and
found that by sts application ! could have
the trust dissolved. The special term Of
| the supreme court sustained us and AL
though the sugar trust people brought shs
| ease 10 the general term on appeal and
I latserly 10 che court ef appeals, every
l Judgment has been In our favor" Gen.
i Pryor said the receiver Of the North River
i Sugar Refining Company would probably
| sell ont It's property as soon as he could
| get fair offer. The dsclsion In the sugar
| trust case was written by Judge Finch, and
says:
The question 90 be determined Ia whether tha
conduct of the defendant company In aiding "a
form shs srust was Illegal In all Of the points
| which we're reviewed 10 IL found that the cor-
| porasioE was doing . public injury. and IN
l avoiding the stato law whioh oompeia reserva-
tion of corporate rights proved unfaithfui Il
l ita charter and duties. It 10 violation OF Law
/ for corporations 20 enter into Partnership. ~
shown in tho case of whitasnton w. Uvton, II
l Gray, 5eG, vhich furnishes the reasons ai
length. II the trust had been pxoperil
Il formed ~ . corporation under the laws
| the twenty separate companies wouit
| have been dissolved. and not remain b
| existence ss in this case. The pFesen
corporation or trust puta upon the nATke
| q capital stock DEFIANT of actual values ans
capabls of unlimited expansion. II corporatios
can combine and mass their forces In solis
trust with little added risk TO capital already
In. without limit TO magnitude, tempting AM
| easy road 10 opened 90 enormous ecmhtnasicas
| vastly exceeding In member and strength AM
possibilities OF individual ownsrship. The las
sseks 10 protect individuals rather than com
hnassons. The defendant corporation has vio
lated fts charter snd failed iz ths performanc'
/ or Its c0rp0gag6 dnEI6E and that In respoots =
material and important 40 10 justify sindEmen
Of dissolution. 49,.