Arizona republican., 1902-03-21

q .-- -i- :. Attorney General 1lno.,. after .oa-s-- e1ce with Presise., THE Eooseve.t. to test ta- ATTACK legality CT tha attempt ON THE ed consultation of the zIEGGER Crea. -(o;.Sorl anl
 Northern rleide 1a::-I roads. leaves ne rcon, to doubt J'-at | IS the purpose of the ad:,.i,;s;let:ou j3 prevent the Geal # J,ie L.. will uphold the p~eeide:.t's To;icy. T. is ua1ou5-=a- Y the most f-ap9~tsc, r-7c-eli1- th-t h@s been i.s.itctel Ss the United States government in many yee,s. Tl- =.:e takes tI:e form ,f . ....3 i. ciult5 to te=t the IeSal status of the <or,aacn securities company. and is drawn il tEe name of Milton D. Purdy, attorney Of the Url.e2 States for tae district of A.ianezota, acting und2- ti;c 2:.ee- ,:cu of Attorney General Knox, against :ae -Zorthern Securities company, th- Great Northern Railway company. tie Northern Pacific Railway company, James J. T-tu, William F Clouga. -. Willis James, John :. Kennedy, J. r. Morgan. Robert Bacon, George r. IaIer and Daniel g. Lamont.
 Tie history cf the Great Northern and Northern Pacific railway is dealt. with in tne bill and reference is made to the attempted 1eorganization when aa:f Of the Northern Pacific capital stock was .o have been turned over tc tne Great Northern company. h deal iac with the Northern Securities com pany me aiIl states that cl.a c5-----a -a--. = was formed for the purpose of erecting 4 merger of the North-r., Paoilc and Great Northern Railway companies and to secure 2 1co1opoly of the rail road traffic .n the sections travcrsed by the two systems. The transfer and e. change Of Northern Pacific steel, is a matter cf ra5lc record, and beEoni thet the frelaers of the bili admit taat they have no definite information.
 It is further alleged that the North 1rn aecutities company was net or eanized ta good faith to p--chase and pay fer the sJoc.zs of the Great North c,n and Northern Pacific Railway coIa- paniez, but that it was organized soiely to incorporate the pooling of the stocks hy said company and carry into o.tee, al alleged uaiawfuI combination or conspiracy ;o con,ro. the securities of the subsidiary co.npar.-s and the busi- ness handled by the companies. The following statement is made ia the Dill. -.CAa Northern Securities company is the mere depository, custo2len, hoider and trustee # the stock oc the Great Northern and Clogtaa-n Pacific Ra;i- way companies. and it's shares Of :Jce l .re but beneficial certificates issued against said railroad stock to desigcats the Interests oT the holders in the pool Che Northern Securities company does ! rot hava and never had capital suhi- cie-t to warrant such stupendous operation. Its subscribed capital ws:z ;s1t sS3.CJ) and its authorized capital of S,G5.50G903 is just sufficient. when au issued. to represent anc cover the harge vciue Of substantially 'he en- tire stock oe the Great c.orjaer. a,- Northern Pacific Railway co-..laIiiee .t9on the basis and at .he rate agreed upon. which is about s122.G oa3 in "-;- cess of the .oa3inc1 eapit-i stock of the t,so railway c.IuHari-1 tsH"n at par"
 II the government fJ.ia |" prevent the carrying out of th- plans cc tho promoters of ta. Northern Securities company ii is claimed that not oI.i: "il
 a consolidation oc two trarecontine2t2 competing lines bo perfected. with g eraclical pooling of their earnings, Ti'- venting e--ectlal competition betV'a 2 such linc5 carrying interstate and for. sien traffic, bvt that the method wi, be rapidly instituted by other systel1ls ! The Aiu then prays ti.at, first. th' ! :1a5thern Socurities company h. per ; pctually ,ul.;loI f.cHi aJrcilas.na. e. f euiri"e. re. -.vi.:.; and la.6iH35 any {" the capital stock of either ,n" M thor. Pacific or Great EorC..ra EFilva2 5 companies. ana that ,se .,.s,ato.G- in : jG., ton b4 issued requiring .hc N3rch ! e.n s-cv~iti-= ce-,-2a-.-- Jo recall an' g cancel cert, 6,-s.tes of stoo-, tss-el in e, 2 e!anee for Great 1.o~tAcrr and North 2 err Pcciac st.c&e.
 ] Second. that the stockholders oG ti ' Northern Faciic and Great NaIthcri
 flaiiy.ay companies be pecpc.ually cl
 joined from recognizing or accepting .. the Northern Securities company as tn