The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-04-21
WHEREIN THE C0RUT ERRED.
Continued from First Page)

Gliding that the device of a holding
company placed the control of the
railways of said two railway COM
panies in the hands of the Northern
Securities Company, and destroyed
every motive for competition between
said two railway companies by pool
ing their earnings for the common
beneht of the stockholders of both
railway companies; and erred in find
ing and deciding that any such, or any
pooling of earnings was ever contem-
plated or has ever been MADE.
The court erred in holding and de-
cldlng that every combinati where
by the power is acquired to suppress
competition between two parallel and
competing lines of railway operating
under state charters and engaged in
interstate commerce is a combination
IN violation of said antitrust act,
whether such power is exercised or in
tended to be exercised, or not.
About Consolidation.
The court erred in holding and de-
Gliding that it would have been a vio-
lation of said antitrust act had the
individual defendants, in pursuance of
previous agreement so to do, sold
their shares of stock in the defendant
railway companies to a natural per-
son, and had induced their fellow
shareholders to do the same with the
resulting acquisition, by such individ-
ual, of majority of the stock of each
railway company.
Antitrust Act.
The court erred in holding and de-
Gliding that the Northern Securities
Company controls the commerce of
both of the defendant railway. compa-
MES, though by the charter of each
company the management of it's bust
ness is vested in it's board of directors,
and the companies have and must have
separate and distinct boards of direc-
tors.
The court erred in holding and decid-
ing that the constitution and compost
ton Of railway companies chartered by
states or organized under state laws,
but carrying on interstate commerce,
are themselves matter of interstate
commerce, and as such subject to reg
ulation by Congress.
The court erred in holding that con-
solicitations of railway companies Gre
ated by or under state laws, and COM
petitorS in interstate commerce are eff
fectual restraints upon such commerce,
and that such consultations, though
expressly authorized by state charter.
are violations of said antitrust act
and illegal
The court erred in defining and de-
Gliding that "the object and necessary
effect of the combination found by it
to exist in this case sis to give to
single person or to a coterie of per-
sons full control of all the means of
transportation owned by two parallel
and competing lines of railroad en-
gagged in interstate commerce, as we'll
as the power to fix the rate for the
transportation of persons and property.
The court erred in holding that the
said antitrust act was intended and
was and is effectual, to include and
prohibit virtual consultations" of
parallel and competing railway COM
panies chartered by the several states,
and combinations looking to such
virtual consultations"
The court erred in holding that the
proofs disclosed any contract, combi-
nation or conspiracy in restraint of in
terstate or foreign commerce, or any
other combination that one to build
up and enlarge interstate and foreign
commerce without any restraining CT
either.
Finally, the court erred in enjoining
the Northern Securities Company from
exercising any control over the other
defendant cOmnanieS