The Savannah morning news. (Savannah, Ga.) 1900-current, 1902-03-11

and foreign trade or commerce, in vio-
lation of the act of Congress of July 2,
1890, entitled, IAN act to protect trade
and commerce against unlawful re-
straints and monopolies.''
Not Acting in Good Faith.
IF the defendant, the Northern Sc
curities Company, has not acquired a
large majority of the capital stock of
the defendant, the Great Northern
Railway Company, it is because the
individual defendants named have pur-
posely discouraged and prevented the
transfer and exchange of stock of the
Northern Securities Company, all for
the purpose of concealing the real scope
and object of the unlawful combina-
ton or conspiracy, and of furnishing a
ground for the defense that the North
ern Securities Company does not hold
a clear majority of the stock of the
Great Northern Railway Company.
The Northern Securities Company
was not organized in good faith to
purchase and pay for the stocks of the
Great Northern and the Northern Pa
cific Railway companies. 1t was or
ganized solely to incorporate the pool
ing of the stocks of said companies,
and to carry into effect the unlawful
combination or conspiracy aforesaid.
The Northern Securities Company is a
mere depositary, custodian, holder and
trustee of the stocks of the Great
Northern, and the Northern Pacific
Railway companies, and its shares of
stock are but beneficial certificates
issued against said railroad stocks to
designate the interest of the holders
in the pool.
The Natural Results.
'If the government fails to prevent
h. e I, tf.,,,
or conspiracy not only will a virtual
consolidation Of two competing trans
continental lines, with the practical
pooling of their earnings. be effected,
and a monopoly of the interstate and
foreign commerce formerly carried on
by them as competitors be created,
and all effective competition between
such lines in the carrying of inter-
state and foreign traffic be destroyed,
but thereafter to all desiring to use
1t, an available method will be pre-
scented, whereby, through the corpor-
ate scheme or device aforesaid, the
act of Congress of July 2, $780, may be
circumvented and set at naught, and
all trans-continental lines indeed the
entire railway systems of the coun-
try, may be absorbed, merged and
consolidated, thus placing the public
at the absolute mercy of the holding
corporation.
The petition prays that the North
ern Securities Company, its stockhold-
ers, officers. etc, be perpetually en-
joined from purchasing, voting, etc,
any of the shares of the capital stock
of either the Northern Pacific or Great
Northern companies and that a man.
datory injunction may issue requiring
the Northern Securities Company to
recall and cancel any certificates of
stock issued by it in purchase of or
in exchange for any of the shares of
the capital stock of either of the said
railway companies, surrendering in re-
turn therefor the certificates of stock
i'm the respective railway companies,
in lieu OF which they were issued. 1t
is also asked that the defendants, the
Northern Pacific and the Great North
ern Companies, @heir officers, stock
holders, ETC., be perpetually enjoined
from in any manner recognizing or ac-
cepting the Northern Securities Com
pany as the owner or holder of any
of the shares of their capital stock"