Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1903-04-14

discussing the contention of the compa.
ny that because each constituent organizn-
ton has lis own board Of directors 1t oper,
ates independently and Is not controlled
by owners Of the majority OF their stock
the court SAYS:
1T is the common experience of man.
kind that acts Of corporations arc dictated
and their policy controlled by those who
own the minority of their stock Indeed,
one of the faroplte methods Ia these days,
and about the only method OF obtaining
control of Il corporation is 10 purchase the
greater part OF its stock, 1t was the
method pursued by the Northern Pacific
and the GreHt Northern companies 10 oh.
tain control Of the Burlington railroad,
and 50 long as the directors are chosen
by the stockholders, the latter win neees-
sarig dominate the former and In real
sense determine All Important corporate
acts. The fact Tint the ownership Of the
majority of capital stock of the corpnra-
tior gives one the mustery and control OF
the corporation was distinctly recognized
and declared in Pearsal versus the Great
Northern Failway, ldt Y. s.. pages 656.67i.
The same fact has been recognized and
deeinfed by other courts
discussing the point whether the owner
ship Of all the stock or two competing and
parallel rOads vests the owners thereof
with power to suppress competition be-
tween such roads, the court entert6ins no
doubt that ii does. Indeed" says ths
,.ni.afitian NIL =. mn S.ta,,t $500
~ eoinrai,.n IL tbs ,otf,,al ard inexftat,is 4
result of such ownership
Sees Restraint.
Continuing the cont SAYS: "Competi-
ton we think, would not be more efIeetu-
ally restrained than il NOW is under and
by force Of existing arrangements. IL the
two railroad companies We're consolidated
under single chulter
Na., ta,ea, f,k..ta
considering the companys New Jersey
charter and the question whether the
fhArief granted i,Y stare can be used to
deieIf the VIII Of the national Legislature
rs expressed "a law relating TO Interstate
trade and commerce over which congress
has absolute control, The court says; The
power OF congress over interstate com
melee Is supreme, faf-Feaeaing, and as
kupNiedses no Limitations other than such
as presented ~ me constitution Itself
a g sl ipr gn .pg SS Il sieee gaa
in view of repeated decisions, no one can
deny thai 1t is a legitimate exercise of the
power III question FOR congress to say TINT
neither natural nor artificial persons can
combine or eonspire in any form whatever
to place restraints On interstate trade or
commerce
5.s..-..4-,
question OF Liberty,
Conmenfina an fhr confention mt tbe
YAM s,libeTf{s, 1T if4o.i IN fi,a o,sfft,,tS,er
was not IL ,e 6opiined ~ ,5o,e iii,a,.t,. -
t,arsors I'M infl,idad a33o,s,s ati,at .t,.,,t
"a eY,tai. fnfo eagf,,i,, ctaees -
for fIie ,il,.5,oS ~ onai,li., oif;,aa
e,lf.rv on his h,isinass $40 5anrt <, ~ ~
o,,i,,io, M nryie,y l,,,os. ,t,,,l,,
.s,ses f,,,, i,saisis IA. t,itI, ~
fratis ~ tl,p t,,,'a ,nsaISo5 t. ~, n ~
whine in ne eser6Sc ~ r. ce,,etIt,,,i6ai
HIN IS EsIafs oo,,,r5ara
ssn, tba ea,,tr,,,5 !, s.,.S tia i, ssi.esi
lswa tbi,.i, M ,,Tn,.tsior fs,,,5i,, az I'M
erty ~ i oiti9e,, e y, ,,,,s o,ti,5t lis,itaS
1,y M cai,trcs dana ~ m, ,.a,,s+ft9,tsos
ana tbn nt,,s.e 70 as,es ,,,,,t, ~
te,stats ,.o,ni,erse ot,T,ai.tsos IN Nm y
ena,f ia,t ~, ,ist,n -
taring info tbose ,riTs 4 co,if,,.ts With
Iiratfly and s,,l,sttTtiaIly an,1 moi mere.
" indirectly remotely, Incidentally ana
fotlaleftlliy, feg1l9te 70 greater on less DC,
gree commerce among states,
Absurd Interpretation.
Tho f,5rtber eontentions az cennsel -,
t.fd,, M NH NH t,,t II I,
intended far s,i,.I, eon3ltln,tion as ti,is
tbaf ti,is e6t,i,fnation baa Men eo,,s,.,,3
mated before Ire Iiil was fiIed ana 5yy,s n