The Kimball graphic. (Kimball, Brule County, Dakota [S.D.]) 1883-1905, 1903-04-24
COMPANY MAY
PAY DIVIDENDS
Judge Sanborn Modifies De.
cree in Northern Secur-
tiles Matter.
TO COURT
Governments Attorney Opposed Grant.
ing the Permission, but the Court
Found No Reason for Refus-
ing Its Consent.

st. Paul, April 22.-Before the United
States circuit court, Judge Sanborn sit
ting, today appeared attorneys for the
Northern Securities mpan and North
ern Pacific and Great Northern railways.
to present their request that the recent
decree be SO far suspended as to permit
payment by the railroads Of the regular
May dividends to the Securities company.
On all other points of the decree no mod
lhcation was asked.
Judge George B. Young appeared for
President Hill, NJ. D. Grover for the Great
Northern railway, and General Counsel
Bum for the Northern Pacific railway.
Under instructions from Attorney General
Knox, District Attorney c. G. Caupt APP
peared to oppose any motion for a modih-
cation Of the decree.
The attorneys for the railroads explained
that the regular dividend day had nearly
arrived, but that under the decree 1t was
impossible for the railway companies to
close their books and pay any dividend, a
matter affecting something like 1900 indi-
7iduals, many of them dependent on these
dividends for the necessities Of life. No
modification of the decree was asked. all
luch matters being left for the formal APP
peal which was sure to come in the course
Of time.
The attorneys for the Securities company
md railroads said they only wished per-
mission to pay the regular dividends,
which is impossible under the understand
ng of the decree Of the court. Before
The case can be finally passed upon by the
upreme court over s14, 900, 900 would be paid
n dividends in case this part of the decree
could be suspended, but otherwise the
Ium would be tied up and the people to
whom it was properly due could not re-
.eiye 1t.
Tho Governments Contentious.
District Attorney Haupt appeared for
he government and opened the argu-
nen against the petition. Under the
provisions of the act for eNpediting
,uch matters he thought the action not
,ne which could properly, even In part,
oe set aside. The government had
fought to prevent violation of law and
hat was what the decree e%njoined. The
defendants We're, he maintained, asking
The court to nullify it's DEGREES and to
.ernit violation Of law. The decree
vas in accordance with public policy
ind really enjoined a nuisance.
He cited cases to sustain his conten-
ion hat such suspensions are not per-
nissible. The petition he said was in
:eality a request to suspend the statue
Ind not to suspend the decree.
Counsel for the Northern Securities
company and railroads commended that
The fact Of an appeal to a higher court
Vas of itself a form of suspension Of
he decree, and maintained that the
.equested payment Of dividends would
lot in any way affect the general terms
II the decree. The suspension of a
mall part of the decree would not be
IL violation of the law to prevent re-
,traint Of trade. The Injunction, being
,beyed, would be just as effective
whether dividend paying be permitted
VI not.
Court Grants the Petition.
At conclusion of the arguments the
petition as prayed for by the Securities
company and railroads vas granted.
fudge Sanborn announcing the decision
at noon.
In granting the petition the court
says the United States has no pc
.uniary interest in the dividends; that
he dividends ultimately go to the
stockholders Of the Securities company,
Whether paid is they are earned or af-
:er a final decision. The appeal in the
Securities case, the court says, will
probably be determined by the supreme
court November next, during which
line tine United States Will have a com
olete remedy for any violation Of the
lnti-trust act, and today's decision does
lot affect any other portion of the de-
,ree.
After the decision was read an ap-
peal was perfected and a bond of $780,
MO f1aS NV tho defendant ---' Is E.a II