The sun. [volume] (New York [N.Y.]) 1833-1916, 1903-04-10

s.. u7s U: 8, as, a2e., whore 4 = said
inter ada: under this grant OF power TO Con-
= ssd fcsesn
enact such legislation as shsl declare void
and prohibit the performance OF any contract
the natural and direct O. erect q sScS
and NOT as msre 20 Other and
cent purposes. regulate. to any substantial
extent, interstate commerce"
As TO CONSTITUTIONAL GUARANTY or LIBERrr.
We do not assent to the correctness Of the
proposition that the constitutional guarantee
OF liberty to the individual to enter into
private contracts limits the power Of Con-
gress and prevents IL from legislating on the
subject Of contracts OF the class mentioned. =.
IL has been held that the word liberty.
as used IN The Tie Gons'ittSti9n was no. 70 hS Se
certain classes OF contracts for the purpose
Of enabling the citizen TO carry on his
But it has never, been. and. in our opinion,
ought not TO be. held that the word included
upon all sub jects, no matter what their nature.
and wholly irrespective. among other things.
sse saS s OF
and In violation Of an act Of Congress upon that
as we believe. exclude Con gress from legisla-
ing with regard to contracts Of the above
nature while in the exercise Of It's Constitu-
tional right TO regulate commerce among
the States, The, provision regarding the
liberty Of the citizen is TO some extent lin
stitution and the power Of consf 70 rsSu-
HIT ssf 10 enact is% Prohibit he CITIZEN
merely Indirectly, remotely. Incidentally and
ssss,s TO the ssss or less
We cannot 30 enlarge the scope OF the lam
guage OF the. Constitution regarding the lib
or that il it, was intended to Include = risSt to
make q contract which. In fact. restrain. and
regulates interstate sommerSe no,Sithstand-
regulate regulate that commeros. had prohibited
These observations, as a matter Of course.
preclude further controversy over the power
OF Congress to limit TO some extent the hight
TO maze contracts when enacttng laws Tor
the regulation Of commerce between the
States.
CONVENTIONS OF pEYENcE DO NOT HOLD.
Learned counsel for the defendants further
was not Intended to include or prohibit com.
binations looking to the virtual consolidation
OF parable and competins lines OF railroads.
stifie competition: that no relief can be
granted to the Government In this instance,
because the Sometnation or Sfops2fsey Of
pose, to wit the organization Of the Securities
Company and the Judgement OF the majority
before the bill was nied. and finally that the
combination proven was one formed in aid
Of cSmme,oe and not e rsstr:in IT,; 10 other
volume of interstate traffic and thus benefit
The Court cannot assent 70 either Of these
and iSIy DISCLOSED IN the decision: hereto;
Concerning the second contention. we
observe that It would be a. noyel. not TO say
absurd. Interpretation Of the Anti-1Iust
is formed and has acquired the power which
1t had no right TO acquire. namely. TO restrain
proeesdns to uss i ana execute IKE p sne
pose for which the combination was formed
Il must be left Ia possession of the. power
that u has acquired with full freedom to
obviously the act when fairly interpreted.
@ aimed hS o dssroy the bower TO plsS.
any direct restraint on interstate trade or
commerce when, by any. combination or
fcial persons. such power has been acquired:
and the Government may intervene and de-
mand relief as we'll after the c0mbinstion
already said. the Securities Company made
Of interstate comSeres that an assas
its organization. as soon as i came into ex-
istence, doing so OF course under the direction
OF to ihe asisd oonsSson Which
has been pressed with great zeal and ability.
il may be that such a virtual con.olidation
OF parallel and competing lines OF railroad
as has been effected. taking a broad view OF
,ss mss b. %o,Ss.
which inspired the combination by which
this end wa. accomplished were Wholly laud-
formed by the individual defendants to pro-
tect great interests which had been com
1eG e ns Was shh Ss II b ss ,hs
step in the accomplishment Of great designs
which. II carried out as tho y wore conceived.
the u commanies Witch These roa9s .srvs and
We shall Seither afirm nor deny either Of
issue. ShIsS We ar. Kos called UPON q de.
cons TO DECIDE nsorns GSsS so o. oS say
tions Of public policy which Congress- must
proof dse. duty to ss sAs sa:s r:
straint Of interstate commerce., that IL TO- say.
% sns s: sn
road eng. sed in interstate comHerce.
We have little Mediation In Answering this
question In the Affirmative. then the Anti;
u &. q sI Ssse ss.
and the Government Ia entitled TO decree.
THE COURTS DECREE.
decree in favor OF the United States will
accordingly be entered TO the following effect
: Adiudeing that the stock Of the Northern
Pacific and Great Northern companies. now
held by the Securities com pany. was acquired
in virtue Of a combination among the defend
ants In restraint Of trade and commerce
among the several States. such a. the Anti
Trust act. denounces as illegal: enJoinins the
Securities company from acquiring or at
tempting to acquire further stock Of either
Of said companies; also enjoininS Il from
voting suoh stock at any meeting Of the stock
holders Of either Of said railroad com panies
or exercising or attempting to exercise
any control. direction or supervision over
the acts Of the said companies or
either Of them by virtue Of Its holding
such stock; enjoining the Northern
Pacific end Great Northern companies re-
speedway. their officers. directors and asents
from permitting such stock 20 b voted BY
the Northern Securities Company or any
agents or attorneys on It's behalf at any cor
porate election for directors or officers Of
either OF said companies and likewise enjoin-
ing them from paying any dividends to the
Securities company on account OF said stock
or permitting or suffering the Securities com.
pany 10 exercise any control whatever over
the arfa ~ AID caupautsa g..