The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1902-01-15
VITALITY OF TRUSTS.
A Lawyer Explains How They
Refuse to Be Exterminated.
ADVERSE COURT DEGREES A BOON


Some sample Cases.
what can the governor OF Minnesota
do about the Northern Securities com
panyi Can the governor of Minnesota
or any other state or anybody else
prevent the completion OF the plans OF
the Northern Securities company in
their present form or some other effect
ing ne same resul,sf asks Henry Woli-
man, a lawyer. in the New York
Times, and he proceeds TO answer the
questions as follows:
These questions have been asked of
probably every important corporation
lawyer in New York city many times
within the past month. IL is alleged
that the company was formed enectu.
ally TO consummatc n brilliant plan to
combine competing railroads. Now, as
suming that il was, are the laws now
in existence adequate to prevent thisI
IL not, will there be sufficient human
ingenuity to frame new laws to meet
the situation? And II new laws are en-
acted that meet the necessities OF the
case, will they really prevent the COM
binatiOn? These are the riddles to be
solved.
A distinction is sometimes sought to
be drawn between trusts" so called,
and enormous corporations combining
competitors. but as far as the public
ia concerned this differentiation Is
merely n play on words. Ii is imma.
terial to the public whether the combl-
nation is doing business as n trust or
under corporate form.
Whether trusts and combinations are
or are not hurtful or whether laws for
their suppression should or should not
be enacted is not within the scope of
the present discussion. The vital ques-
ton is, assuming that this Is combl-
nation. will it be stopped-not whether
1t ought to be. but will it ber
When trusts were first invented
the public looked upon them as horrible
monsters designed TO impoverish II not
to devour the people. II was prophc-
sled that every economic i'll would
come from them. Therefore almost ev-
cry lover of his people racked his brain
to evolve some means or measure TO
prevent or suppress them, as every
good citizen would endeavor 20 prevent
or put down pestilence. The great
danger anticipated was the raising Of
prices and thus forcing the consumer
to pay outrageously for his necessarics.
/ Laws were enacted in every state and
by the federal government to extermi-
|
prices. II law were found weak, n
stronger and more stringent one was
put in its place. but all this bore ro
fruit that was gatherable. Then II was
said that the danger was not so much
with combinations tending TO elevate
prices as with those tending to reduce
them aud thus freeze out competition.
The legislative guns and cannons were
trained on that sort of combinations.
but still without any result. In the
face OF all this legislation. the most bit
ter. vitrIolic and drastic that the law
makers could devise. trusts have multi
piled and grown beyond the widest
dream Of the father OF trusts" who
ever he may be. Today there Is no
place In this country where they find
any real difficulty In doing business.
One might from the foregoing jump
to the con clusion that the courts have
come under the shadow OF corporate
influence and have favored trusts and
combinations by failing to give Judi
cial sanction TO the legislative enact
ments or by placing obstacles In the
way OF the enforcement OF the legisla
tive will, but not so. In almost every
state the pronouncements of the courts
against trusts have been radical. with
DEGREES intended to be destructive.sB But
the trusts seem TO have found the judi
cial poison designed 20 accomplish theiI
death fattening food.
In New York one of the early cases
was the dissolution in 1890 by the
court OF appeals OF the sugar trust
The court In passing that solemn deatl
sentence said:
"In this state there can be no part
nershlp OF separate and independent
corporations. whether directly or indi
rectly, through the medium of trust
no substantial consultations which
avoid and disregard the statutory pro
visions and restrictions. but manufac
turing corporations must be and re
main several as they were created oI
one under the statute"
That decree. which was hailed witt
delight as the salvation OF the people
unwittingly pointed the way 10 yas
corporation accomplishing the precise
thing which the decree intended tC
render impossible. out of the ashes IL
the urn in that judicial crematory
there sprang a new and mighty corpo
ration. and the sugar trust of 1901 car
look ut the sugar trust OF 1890 as 4
man looks upon boy.
In 1892 the supreme court OF Ohit
In dissolving the Standard Oil rus
! said:
: ''lts object was TO establish a vir
tusl monopoly OF the business OF pro
ducing DefFoleum and OF tuanufactu