The Irish standard., 1903-04-18
THE MERGER DECISION.

Standard brief announcement was
made relative to the position of the
United States government in the suit
brought against the Northern Secur-
tiles Company, the Northern Pacific
and Great Northern railways and in
dividual officers and directors Of these
companies, which was sustained in
the decision handed down in the
United States circuit court of appeals
in st. Paul on Thursday, April 9. All
four Of the judges concurred in the
conclusion Of the court, which were
stated by Circuit Judge Thayer. The
case, as last resort, will now be ap-
pealed to The United States Supreme
Court, but the unanimity of the inter-
mediate court and the apparent con-
formity of the findings to the law and
the facts, strongly indicate that the
decision thus arrived ut by that court
will be affirmed. If this should prove
to he the final result il will he found
n most popular verdict-a decided vic
tory for the people as a whole. Since
Attorney General Knox entered the
Cabinet his fealty has often been
questioned. He had been a corpora
tion lawyer and us such it was felt he
had formed prejudices that might COM
nit him to the cause of the trusts
So strong had this belief become that
his Pittsburg speech, delivered some
time since, wherein he declared that
the Sherman act was not a dead letter
but equal to a proper regulation and
restriction Of trusts, was not consid-
cred as an honest, well-mcant express
sion on his part; to the contrary he
was charged with designedly covering
his real purpose, which had in view
the prevention of further antitrust
legislation. The work Of reaching
these great trusts is q slow one and in
this, too, the encouragement has met
with much adverse criticism, but now
that his course is more fully under
stood, he will be cheerfully given that
credit SO honestly due him. He GER
tainly could not ask for better per-
sonal vindication than has been furn-
ished by the decision Of the court of
Appeals in the Northern Securities
case. Under an Interpretation of the
Sherman act Attorney General Knox
prepared the case, aggress.vely fought
1t along the best lines Of attack and
inspired the passage Of an act that
gave the trial precedence because of
its great Importance and his efforts
were crowned with success. The de-
cision us rendered III this case is not
that Of a single circuit Judge but Of
four judges sitting as a court Of ap-
peals under law which was passed
in February Of the present year.
1t is impossible to estimate the in
calculable benefit to be derived from
this decision. Had the courts sup
ported the merger plan all the rail-
roads in the country would soon he In
the hands Of half dozen men whose
dictation would be severely felt in a
particular manner by every business
man and farmer drought the land.
The handwriting is OH the wall and
no device or evasion can now serve
the merger leaders. AS the matter
now stands there can be no midn4e
ground. Either the Supreme Court
must affirm the action of the inter-
mediate court in all its bearings or
dissent from its findings. If it does
the former, one Of the most important
questions that has ever faced the
country will be settled and settled
right If it fails in it's affirmation the
best interests of the republic, SO fur as
the proper government Of trusts and
combinations are concerned, will have
been set aside.
The case will now go directly to the
Supreme Court Of the nation and but
little doubt can be entertained of the