Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1902-03-12
AGAINST THE MERGER.

AGAINST THE MERGER.
Government Brings Suit in ths Federal
VS.. Court at ST. Paul.
st. Paul, March PA bill in equity
has been filed in the United States
circuit court at st. Paul in which the
United States is complainant and the
Northern Securities company, Great
Northern Railway company, the North
ern Pacific Railway company, James J..
Hill, w. P. Clough, D. Willis James,
John S. Kennedy, J. Pierpont Morgan,
Robert Bacon, George P. Baker and
Daniel Lamont are defendants. Unit
ed States District Attorney Purdy
filed the petition, which bears his sig
nature as well as that Of Philander c..
Knox, attorney general of the United
States. The object of the action is to
test the validity of the alleged combi-
nation or merger of the two railroads,
and is brought under the act of July
z, 1890, known as the Sherman anti
trust act: The petition charges:
: That the said James J. Hill and his
associates entered into an unlawful
combination or conspiracy to effect a
VI luo -NOIIuGrn fdCluC
and Great Northern.
That they seek to promote the inter-
ests not of one system at the expense
OF the other, but of both at the expense
of the public ~
That the defendants are attempting
to monopolize and have monopolized
Interstate and foreign trade to the
great and irreparable damage of the
people of the United States. H.
That the Northern Securities com
pany was organized solely to incorpo-
rate the pooling Of the stocks Of said
company and to carry into effect the
unlawful combination. ..-s...
That the Northern Securities com.
pany is a mere depository, custodian.
holder and trustee for the stocks of
the Great Northern and Northern Pa.
cific companies.
Has insufficient Capital. ~
That the Northern Securities COM
pany does not have and never had any
capital sufficient to permit such a stu.
pendous operation.
That it the government fails to pre-
vent the carrying out of this combina.
ton or conspiracy, not only will the
virtual consolidation of the two COM
peting lines be effected but thereafter,
to all desiring to use it, an available
method will be presented whereby the
Sherman act may be circumvented and
set at naught and the entire railway
systems OF the country may be alb
sorbed.
The petition asks that the court de-
cree that this combination or conspir-
acy is unlawful and that all acts done
or to be done in carrying it out are in
derogation of the common rights of all
the people and in violation of the Sher.
man act.
That the defendants be perpetually
enjoined from carrying out the same.
That the Northern Securities com
purchasing, acquiring, receiving, hold
Ing, voting or in any manner acting as
the owner of any of the shares of the
Pacific or the Great Northern Railway
companies
That a mandatory injunction be is
sued requiring the Northern Securities
company 70 recall and cancel any cer5
tificates Of stock issued by it. in ex
change for any of the shares CT the
capital stock Of the two railways
That the Northern Pacific and the
Great Northern railways be perpet-
ually enjoined from in any manner
recognizing or accepting the Northern
Securities company as the owner or
holder Of any shares OF its capital
stock
That mandatory injunction be is.
sued requiring the defendants to sur.
render any stock of the Northern Sc,
curities company and accept in ex.
change stock Of the railway company
in exchange for which the same was
issued.
Or. Rodrigues AIvas Elected President
of Brazil.
New York, March 12.-Senor A..
Fontoura Xavier, Brazilian consul gen.
eral in this city. has received prf,s
vateS cable dispatch from Rio Jane'ro
announcing the election OF DR.. Fran.
cisco de Paula Rodrigues Alvas as
president of Brazil.
DR.. Rodrigues Alves for many years
has been a conspicuous figure in the
politics of Brazil. He is native of
the state of Sac Paulo and is now gov
ernor Of that progressive and rich
state. He resigned a federal senator,
ship to become governor.
As a fnancier, it is said by his
friends, that Or. Rodrigues Alves has,
no superior in South America. His
ability was recognized by President
Peixoto who appointed him ministerof
finance in his cabinet. President
Moraes retained him in that place.
The president-elect is a lawyer and
has occupied leading place at the
bar. He has been elected as the can
didate of the Republican party and his
election is considered a great triumph
because of the high standing and
prominence of his defeated opponent.
DR. Ubaldino do Amaral.
DR.. Rodrigues Alves will be In
augurated on Nov. 15, the anniversary
of the proclamation of Brazil's indie
pendence. The tenure OF Office is four
wears.