The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1903-04-10
NORTHERN SECURITIES
COMPANY IS ILLEGAL
Decision of the United States Circuit Court of Ap-
peaIS in Favor of the Government
New Jersey Charter Not Sufficient to Authorize Violation Of an Act
Of Congress-

CT. PAUL. Mimi. April 9.-The po-
y sition OF the United States gov
eminent in the suit brought by
the Northern Securities company, the
Northern Pacific and Great Northern
railways and individual officials and
directors of these companies was sus-
talned I'm the decision handed down ia
the United States circuit court of app
peals in this city today. The case was
originally brought iu the United states
district court here. but under a special
act Of congress was taken al once 90
the court OF appeals, which court was
20 expedite the hearing and decision
of the case Zoo every manner possible.
The taking of testimony iu this city
and in New York lasted for several
weeks, and the arguments I'M ST. Louis
before Circuit Judges Caldwell, San
born. Thayer and Van Devanter took
several days The decision Of the
court was written by Judge Thayer and
! was nled ln this city where the orig
inal action was instituted. An appeal
10 the United States supreme court
VIII De taken Immediately. All four
judges concurred in the conclusion Of
the court The substance of the order
Us IN the decree. which Isl as follows.
Decree Of the Court.
decree IN favor OF the United states
WI accordingly be entered TO the follow
"Adiudgins that the stock of the
NoTlhern Pacific and Great Northern
railway companies now held by the SCI
cgIiues company was acquired i'm virtue
on combination among the defendants
lh restraint of trade and commerce
among the several states. such as the
4nl-tfusl act denuuuces as Illegal enc
joining the securities company from acc
curing or attempting t0 acquire further
ftocA OF either of said companies. also
tnJoming DC from voting such stock at
10y meeting of the stockholders OF either
salu railroad companies. or exercising
attempting Co exercise any control
ulrectiou or supervision or influence over
me acts OF said companies or either Of
thcm hF Flrture of lis holding such
stock; enloiuing the Northern Pacific and
GleAt northern companies respectively.
their officers. directors and agents. from
pe-mlttlue such stock 20 De voted by
the Northern Securities company or any
or us agents or attorneys ON los behalf
al any corporate election for directors
ur Officers OF either of said companies
and likewise eulOuluE them from nay
ins amy dividends 90 the securities COM
mitt.ns or suffering the securities com
Iany 90 exercise any control whatever
over The coruorafe acts of said Compa-
MES o. o. direct The policy OF either.
and. finally. permitting the securities
company 90 return and transfer tO the
stockholders of the Northern Pacific ana
Great Northern companies any and an
shares of stock of those companies which
So may have received from such trans
Tor and assignment Co such persons or
persons as are now the holders and
owners of Us stock originally issued iu
exchange Tor the stock of said comga-
mics
Conclusions Reached
Circuit Judge Thayer stated the con-
illusions of the court He recites the
petition which was brought under the
antitrust act of 1880, and adds that UNI
der the act of Feb. m. 1903, this case,
being OF general public Importance"
had been given precedence over others
and in every way expedited. To is de-
c'ared that under the admissions of the
defendants the matters of fact are that
the roads were parallel and competing