The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1903-04-24
COMPANY NAY
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.

Il NhS ~
States circuit >crrt. rndge Sanborn sit
ting. to-day appeared attorneys for tn,
Northern Securities company and North.
eth facSic n Great Northern railways
70 present their request that the recen,
uecree be so far suspended as to permit
payment by tho railroads OF the regular
May dividends to the Securities
On all ether points Of the decree no mod
Hcation was asked.
Judge George b. Young appeared for
Prestdent ELL. d. d. Grover for the Great
Sorthern railway, and General Counsel
BUM for the Northern Pacific railway.
Under instructions frem Attorney General
Knox, District Attorney c. G. Caupt ap-
peared to oppose any melton for q modifi-
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, q
matter Affecting something like 1900 indi-
RITUALS, many Of them dependent on these
dividends for the necessities of life. No
modification of the decree was asked, all
Iuch matters being left for the formal APP
zeal which was sure to come In the course
sf time.
The attorneys for the Securities company
md railroads ssid they only wished per-
mission to pay the regular dividends,
which Is impossible under the understands
ng Of the decree of the court. Before
he case can be finally passed upon by the
npreme court over 3l4. 0oo,e eco would be paid
n dividends In case this part of the decree
:ould be suspended. but otherwise the
Jum would be tied up and the people to
whom 1t was properly due could not re.
seive It
The Governments Contentious.
District Attorney Haupt appeared for
he government and opened the argu- |
nent against the petition. Under the
Of the act for expediting
matters he thought the action not |
,ne which could properly, wen in part, /
be set aside. The government had
fought to prevent violation of law and
was what the decree enjeined. The |
defendants were, he maintained, asking
court to nullify its DEGREES and to
ermit violation Of law. The decree
was in accordance with public policy
really enjoined q nuisance. /.
He cited cases to sustain his conten-
ion h such suspensions are not per- |
nissible. The petition he said was in I
q request to suspend the statue |
md not to suspend the decree. |
Counsel for the Northern Securities /
company and railroads centead>d that |
he fact Of an. appeal to a higher>iourt (
Of itself q FORM OF suspense n OF !
he decree, and maintained that the
esuested payment of dividends would }
lot in any waI affect the general terms \
4 the decree. The suspension of a
mall part Of the decree would not be
violation Of the aw to prevent re-
traint Of trade. The Injunction, being
would be just as effective
dividend paying BE- peroiitted I
r not.
Court Grants the P 'ition.
At conclusion Of the az: ,ments the
as prayed for by tha Securities
ompany and railroads was granted.
udge Sanborn announcing the decision
t noo
In granting the petition the court
avs the United States has no Pc
uniary interest in the dividends; that
dividends ultimately go to the |
tockholders Of the Securities company, 1
paid as they are earned or af-
er a final decision. The appeal in the
case, the court says will
robably be determined by the supreme
urt November next, during which
the United States will have a COM
remedy for any violation of the
act, and today's decision does
OF affect any other portion Of the de-
rec.
After the decision was read an ap-
cal was perfected and a bond of $780,
10 filed by the defendant.