The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-03-19
Government Against North
ern Securities Go.
FOUR JUDGESARE SITTING
From the Circuit Court for the District Of Min
nesota theCase can go Immediately to
The Highest Tribunal of the
Nation,
Nation.
(By the Associated Press.)

st. Louis. Mo, March 1S.-For the first
time in the history of the United States
courts, and by authority of special act
of Congress passed last February, four
United States Circuit judges are sitting
together to hear arguments in case.
the trial being the fight of the govern
ment against the Northern Securities
Company of New Jersey, in the celc-
brated merger suit. Under this special
act. the United States Circuit court for
the district of Minnesota, is holding its
session in St. Louis, and by this arrange
ment the case can go Immediately from
this court to the Supreme court of the
United States, whereas, in the general
court proceedings it necessarily would
go through the Circuit Court of Appeals
and a delay of from two to three years
probably would ensue.
Most of to-day's session was taken up
with the presentation of argument for
the government by Assistant Attorney
General James NJ Beck. After he had
concluded late in the afternoon, argu-
ment for the Northern Securities Com
pany was began by former Judge George
b. Young, of st. Paul
Assistant Attorney General Beck be-
gan speaking soon after court convened,
and with the exception of two hours
of recess, he spoke continuously until
nearly four o'clock The court room
was crowded to hear his argument. Mr..
Beck referred to the Wabash Injunction
case, which is being tried in the United
States District court at the other end
of the building, saying that the laws are
such that employees of a railroad, who
do not own one cent of stock, or one
rail of the road can be enioined from
striking. and thereby intVfeTtng with
the Inter State Commerce act by stop
ping traffic: but that unless this court
so ruled, the government is powerless
to prevent the owners of railroads them
selves from merging, preventing COM
petition, and thereby interfering with
the very points the Interstate Commerce
act sought to protect.
Mr. Beck in the course of his arSu-
ment, analysed the charter of the North
ern Securities Company, and said:
such extraordinary powers were never
vet granted to a corporation unless it be
one of the New Jersey breed In a few
words, it's powers may be classified as
follows:
I'D Infinite in scope.
'N2) Perpetual in character
"(3) Vested in the hands of a few
30 By methods, secret even to stock
holders.
1T will be interesting to follow out
the possibilities of such corporation
The original idea of the holding corpora
ton, as explained by noted tinanciers, IS
to enable the minority to rule the ma
jority."
He analysed the Sherman Anti Trust
Law and contended that it clearly pro-
hibited such combination.
In conclusion he said: However pub
lie spirited the purposes of the defend
ants in forming this merger may have
been, and whatever its resultant good
or evil, it is enough for present purposes
to say that ii clearly violates existing
law, whose provisions must be enforced
unless government by the people is to be
deemed a delusion.
When Assistant Attorney General Beck
had finished former Judge George B.
Young, of St. Paul, began the presenta-
ton of argument in rebuttal for the
Northern Pacific Securities Company.
After Judge Young had spoken for half
an hour court at 4:90 o'clock adjourned
until tomorrow, when Judge Young will
continue his argument.