Omaha daily bee., 1897-09-21
KNOCKS CUT STOCK EXCHANGE
Sweeping Decision in Kansas City Live
Stock Exchange Case.
HID TO BE AN UNLtw. .UL COMBINATION
Judge Foster of United states Court
Rules the Kansas city Body Is
Organized In violation of
the ANTITRUST Law.

TOPEKA, Sept. 2O-Unlted States District
Judge Foster made a sweeping decision this
morning in which he declared the organiza-
tion known as the Kansas City Live Stock
exchange illegal under the provisions of the
antitrust law. The exchange is an organi-
cation of commission men, who control the
sale Of live stock in Kansas City. All stock
which enters the city must pass through
the hands of this organization. Judge Fos-
ter enjoins the commission from doing busi-
ne and declares it an unlawful combina-
ton
The case was that brought by the United
States district attorney nearly year ago,
when Greer Mills & Co., a Chicago-Ki, sas
City firm, was driven from the exchange.
Tne firm was suspended for the non-payment
of fines, aggregating $1,000, and sued tor an
injunction.
The association is located on the Kansas
Missouri line, ~ the immediate vicinity of
the Kansas City Stock Yards company s
yards. The decision declares that the ex-
change is clearly a combination whose pur-
pose is to restrict, control and monopolze
the buying and selling of live stock at the
Kansas City yards, and continues: The
methods and aims of may of these eX-
changes and boards of trade are not alto
gether beneficial to the business and COM
of tciay, and the great menace to the vel
fare of the people is the tendency of wealth
to moropoli2e and control by trusts and
Combi,es the products and industries of the
country, and 1t must be confessed by every
thoughtful observer that many of the So
called stock and produce exchanges are
among the most potent instrumentalities for
the accomplishment Of these purposes by
spectators and adventurers.'
CAUSES EXCITEMENT.
KANSAS CITY, Mo-, Sept 2O.-The news
of the decision rendered by United States
Judge Foster declaring the Kansas City Live
Stock exchange a violation of the Sherman
antitrust law, caused a great deal of sup
pressed excitement at the stock yards here
today.
Some members Of the exchange say the
dissolution of the exchange will pa severe
blow to the live stock interests If it stands
the test in the higher courts. They say the
business as carried under the rules OF
the exchange has been reduced to scien.
tifc basis and guarantees to every patron an
honest deal. President John G. Mccoy said
| I'VE are in the hands of our lawyers and
| until we see them we do not know what
| action will be taken by the exchange. Ir
| fact, we do not know the full import of the
| decision and are In no position to say what
| we can do"
Judge Foster defines the interstate law and
| says: 1T is indisputabe that all the live
stock shipped to these defendants for sale
| from states other than Kansas or Missouri
| after it has entered the current of commerce
| between the states, continue and remain sub
| jects of such commerce until the transporta
| ton is terminated, and the property become:
| part of the general property of the state
| 1t is also well settled that while this prop
| erty is the subject Of interstate commerce
| no state, municipality or other power bu
congress can impose taxes, restrictions OF
| regulations upon it, except so far as prope
in the exercise of police regulations for tn,
| protection Of the health, morals and per
| son of the citizen, and except for proper
| charges and regulations for the use of loca
| instruments, as aid or incidents to such com
merce, such as docks, bridges, wharves, ele
vators ferries, pilCtage, etc.