Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1903-04-16
JUDGE THAYER,s DECISION.

The decision of the United States
|circuit court which knocks out thu
plans of the Northern Securities Com.
pany is the most important court de-
cision that has been rendered in recent
years. In the language of Judge Thay-
Ell who wrote it, it presents entertain
ing reading, but its length would dis
courage the average rea.er. hence the
Times Republican will attempt to give
in brief installments the courts ruling
on each point involved
Good Intentions No Excuse.
Learned counsel for the defendants
further contend as follows:
That the antitrust law was not
intended to include or prohibit combs
nations looking TO the virtual CONSOLE
dation of parallel and competing lines
of railroad. although such a combina-
tion operates to stifle competitions; that
no relfef can lie granted to the govern
ment in this instance because the COM
bination or conspiracy of which it
complains has accomplished it's pur-
pose, to-wit: the organization of the
Securities Company and the lodgment
of The majority of the stock of the two
railroads in it's hands BEFORE THE
BILL WAS FILED; and finally that
the combination proven was one form
ed in aid of commerce and not to re-
strain it, in other words that it WAS
one formed to enlarge the volume of in
terstate traffic and thus benefit the
public.
The court cannot assent to either of
these propositions. The first, we think,
is clearly untenable for the reasons all
ready stated and fully disclosed in the
decisions heretofore cited.
Concerning the second contention,
not to say absurd, Interpretation of the
anti trust act to hold that. after an
unlawful combination has formed and
the power which it has no
right to acquire, namely, to restrain
commerce by suppressing competition,
and is proceeding to use it and execute
The purpose for which the combination
was formed, it must be left in the posi-
session of the power that it has acquir-
I'd. with full freedom to exercise it.
obviously the act. when fairly in
terpreted, will bear no such construc-
ion. Congress aimed to destroy the
eower to place any direct restraint on
interstate trade or commerce when, by
my combination or conspiracy, formed
~ either natural or artificial persons.
such a power had been acquired; and
he government may intervene and de-
nand relief as we'll after the combi-
nation is fully organized as While it is
N nf n n
stance. as we have already said, the
Securities Company made itself a party
o combination in restraint of inter
state commerce that antedated it's or
as soon as it came into ex-
stence, doing so, of course, under the
direction of the very individuals who
1t.
Relative to the third contention |
which has been pressed with great z5al
nd ability. this may be said:
1T may be that such a virtual con-
of parallel and competing
mes of railroad as has been effected, |
aking a broad view of the situation, is
enefcial to the public rather than
armful. 1t may be that the motives
.hich inspired the combination by
ihich this end was accomplished We're
,holly laudab1e and nsalish, that the
was formed by the indi-
idual defendants to protect great in
srests which had been committed to
heir charge: or that the combination
as the initial and necessary step in
ne accomplishment of great designs
-hich, il carried out as they were con- Is
eived, would prove TO be OF inestimable L
alue to the communities which these
pads serve and to the country at large
re shall neither affirm nor deny either
these propositions, because they pre-
.nt issues which we are not called
non to determine and some of them
.volve questions which 1re not within
lie province of any court to decide, in
Diving. as they do, questions of public
,licy which congress must determine.
1T is our duty to ascertain whether |
le proof discloses combination in di- :
ct restraint OF interstate commerce.
at is to say, a combination whereby | I
e power has been acquired to sup I
.ess competition between two or more !
mpeting and parallel lines of railroad l
gagged in interstate commerce. If it
,es disclose such combination, ana s
9 have little hesitation in answering o
is question in the affirmative, then the S