The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-08-11
Secretary of state Thinks He Can
Place the Big Combination
Between Two Fires.
WORK OF TOM L. JOHNSON
CLEVELAND's MILLIONAIRE MAYOR
HAS RETAINED MIR. MoNNETT,
Who VIII Attempt 10 Dust the United
states Steel Corporation from
the Buckeye state.

81 wish people could get set right on this
trust question:" said Deputy Attorney Gen.
eral Merrill Moores yesterday 1.-THE prop
sition is simply this: Originally. all trusts
were organized precisely like the Con-
sumers' Gas Trust in this city. that is to
say wherever a combination was made be-
tween manufacturers to control compete
tion the weaker manufacturers required
that the stock should be held 10y trustees
for the purpose of voting it and that these
trustees should be permanent. so that no
one person could get control of a majority
of the stock and thus control the business
and freeze out the little fellows The
Standard Oil Company and all the other
great trusts of the country were organized
in that way. The stockholders did not get
any shares of stock. but they were held by
the trustees and all that shareholder had
was a certificate showing that certain
number Of shares belonging 10 him were
held by these trustees TO be voted at cleo
tons OF directors. In this way il was i'm
possible for any one interest by getting a
bare majority Of the stock. TO control a lot
of manufacturing industries SO that the
minority interests could not get their fair
share of the business.
1.-THE courts held such trusts unlawful and
so far as know, with the exception OF the
Consumers Gas Trust of this city. all OF
them ceased 10 exist. The Consumers Gas
Trust obtained an express legislative au-
thority and was legalized by the Indiana
Legislature, and II is the only trust l know
OF that is now I'm existence.
Combinations of capital I'm the form OF
ordinary corporations that control manu.
featuring industries are not legally trusts,
but they are usually called trusts because
OF the fact that formerly they really were
trusts. Such corporations are not I'm them
selves unlawful. The law recognizes the
right OF the United States Steel Corpora
tion to exist, precisely as it does the right
OF any college or church or any ordinary
manufacturing corporation or railroad com
pany.
1.-The antitrust laws OF the United States
and OF Indiana and OF other States simply
forbid corporations and individuals from
combining for certain purposes which are
declared TO be unlawful The United Statea
Steel Corporation is a perfectly lawful ore
ganization and as long as II obeys the law
1t has the same right TO exist as 10
possessed by any other corporation.
ONLY ONE TRUST COMPLAINED Oh
1.-The attention OF Attorney General Tay-
lor has been drawn to but one violation Of
the Indiana antitrust laws. and that was
by the window-glass trust. as II is popu-
larly termed. Proceedings were promptly
brought against that corporation TO wind
up its affairs IL IL was found guilty OF vios
lating the laws. Those proceedings are
pending in court. There has been no othel
complaint in this State that a corporation
or individual was violating the antitrust
laws. When such complaints are made
prosecutions will speedily follow. II the evis
dence is such as TO justify such action"
Mr. Moores gave a summary or the pre-
vision of the Indiana antitrust statute.
known as the Cooper law. Under the Indis
tions are forbidden to enter into any ar.
rangement, contract, agreement or combs
nation to control the output OF any article
of merchandise made with view TO lessen
or which may tend 10 lessen full and free
competition in the Importation sale of
articles OF merchandise. and all arrange-
ments TO that end are void. and any corpo~
ration which enters into any contract hav-
ing that end in view must be wound UP by
the attorney general. III the attorney gen<
eral or prosecuting attorney, when his at
tention has been directed TO n violation Of
this law, should neglect or refuse TO do hla
duty in the matter, he may. of course. be
proceeded against in the courts but no
proceeding could be brought unless IL could
ately violated and that the officers against
whom the information was brought had
knowledge OF such violation and refused 10
state Factory Inspector McAbee was
greatly annoyed yesterday over the fact
that he had been put In the attitude of in
dorsing the proposed prosecutions against
the attorney general and prosecuting attor-
news OF Indiana at the instance of organ
lied labor. What did say" declared Mr.
McAbee. was that indorse the proposed
action against the attorney general OF the
United States. My reason for this state.
ment is that l think N there is anything Of
advantage in the Sherman antitrust law
the public Is entitled 10 reap the benefit
But / do not believe the antitrust law oi
Indiana has been violated"
HE THINKS STRIKE Is JUST.
Mr.. McAbee talked Interestingly OF the
steel strike which begins to-day. II expect
the strike or the steel workers 20 last a lona
time" he said 1T will be a big strike ]
look for the United States Steel Corpora.
tion TO run all OF its mills II possibly car
with nonunion men and 10 endeavor 20 oper
up the others. The indepedent mills viii.
however increase their forces and give en-
ployment 10 large number OF the men
that are thrown out. and now Is good
time 10 invest money In that kind OF bust
ness / think the United States Steel Cor
poration will lose an immense amount of
money. but money appears 70 hs NJ sA5seo