The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-03-20
Thus Affirming the Contention that
the Company Was an Illegal Com
bination i'm Restraint of Trade.
MUCH INTEREST IN THE CASE
POINTER FOR OTHER STATES THAT
WISH TO REPREss COMBINES,
Decision Rendered by Justice Mcken-
na-Harlan the Only Dissenter-
Syllabus by Mr.. CulbersOn.
speoia, TO the Indianapolis journal.

Special to the Indianapolis Journal.
WASHINGTON March 19.-The decision
of the Supreme Court to-day in the Waters
Pierce oil case, sustaining the validity of
the Texas antitrust law. was probably of
far greater interest to the larger CONNER
cial and financial interests of the country
than anything Congress now has on hand.
Ever since the case was argued before the
Supreme Court the industrial combinations
have manifested a great interest in the
outcome. and have had their eyes turned
to the Supreme Court on every opinion day
to learn If the Texas antitrust case, as
this is popularity called here. had been de-
cided Strangely enough it has been pre-
dicted all along by the knowing ones that
the Texas statute would be declared in
valid. Indeed, the Industrial combinations
have been certain of this from the begin
ming.
To say that the opinion of the court is a
great surprise to the trust interests is put
ting 1t mildly. They are astounded, and 1t
destroys the feeling of security which had
begun to pervade their offices. Indeed, the
fear is openly expressed that since the
court holds that the Texas statute Of 1889
at least is valid, other States will pattern
after that law until the larger number of
Commonwealths have fortified themselves
as far as possible against the encroach-
ments OF trust domination. Politically the
effect of the decision is to bring to the
frort Attorney General Griggss suggestion
that the most potent weapons against COM
bins.t ions in restraint of trade would be
eventually found in the legislative power of
- I,o herr fadn
statute has not been regarded so dangerous
as radical state statutes, and since Texas
had experimental further in this direction
than any other State there was strong
hope that the waters-Pierce oil case would
result in decision which would put an
end to hostile statutes. Senator Culber-
son, who was Governor of Texas when the
antitrust statute of 1895 was enacted, this
evening made the following syllabus of the
opinion: Briefly stated, the court decides
the following:
"First-That as the judgment of the
State Courts withdraws transactions OF in
terstate commerce, which can be lawfully
done from it's operation, the Supreme
Court of the United States will only con-
slider its application to local or state COM
merce.
"Second-That foreign corporations have
only such rights of contracting in Texas
as may be given by the state, ana as the
Waters-Pierce Oil Company violated the
law under which Ii was permitted to do
business the State Court could lawfully
annul the permit.
'Third-That the permit to do business
was not protected by the fourteenth
amendment because the permit was issued
subject to the right of the State to with
draw it if the company violated the laws.
"Fourth-The decision necessarily holds
that the antitrust statute of 1889 is valid.
The act of 1895 exempts labor organiza-
tions from it's operations, a provision not
contained in the act of 1882 Without pass
ing upon the validity of this exemption the
court said that even if the act of 1895 was
void because of this exemption the act of
1889 was valid and the judgment of the
State was right under that act