The sun. [volume] (New York [N.Y.]) 1833-1916, 1903-04-19

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The Northern Securities Dividends.
-Ths public should and will, We are
6on1Asnt, consider fairly and calmly the
pressure upon Attorney General KNOB
% dl1c3ose the instructions he gave on
tbe 1leA inst, as reported in the Herald
y tho Uuited States District Attorney at
&. Pad, regarding any application the
eefsndsnts In the Northern Securities
case might make to tho proper Circuit
Court, or any Judge thereof, for a modi-
flcation Of the order forbidding payment
OF money to the Northern Securities
Company by the two defendant roads,
or either Of them, as dividends, and
distribution thereof to the shareholders
In the holding company.
Mr.. KNOX, poor man, 10 between two
ccnverging hrss. One is that Of his chief,
the President, whose subordinate he Is as
Attorney -General, and who set on foot
the prosecution Of the defendants on
complaints to him by citizens Of almost
Tie entire Northwest" az the Depart
nsent OF Justice has affirmed. Here 1t
must be said, though, that there are
two theories regarding the President at
- date Of the Attorney-General's in
oetuctions, one being that the Presi-
dent II % isolated from the seat OF gov
eminent that he cannot be consulted
regarding public business, and the other
that he had been conferred with in tho
Northern Securities case and his orders
reosived. The other fire to which the
Attorney General Is exposed Is that from
ths Oongrsesmen who voted half mil
Ion Of dollars to be used In pursuing all
violatoFs Of the Antitrust law and the
politicians who seek advantage in their
dIstricts by prosecuting railway cor
pprats capital.
.It was natural for the Attorney Cen
sfal to meet his responsibility to both
end III by giving to the public the official
orders he had sent to his subordinates
nearding their conduct in the manage
meat Of Government lawsuit. Perhaps
II b unusual to inform the Judges through
the newspapers Of what the President
and tho Attorney General expect Of
them, but, on the other hand. there is the
OF almost the entire North
uost.' Hence the Government order to
H. District Attorney. thus brought to
he attention Of the Court, announo-
Ing tho declared public policy Of the
nation:'
Yeu are arrested 70 watch this matter closely.
~ earnestly oppose any such application. On
sreunA that this d not an ordinary case of equity
)uasdission between private parties. but special
~ saasrgsl statutory remedy IN equity v eniuaa
visasses Of psaai law.
= Ths decree nnds defendants guilty Of violating
- aselsred public policy Of the nation. For that
pnsoo he oovsmmsns opposes any suspsasioa or
nDnAess,on Of the judgment Of the cour. The
pslnAestson proposed would. In effect. be An In.
141gsnss - seasanss ~ violate aw Of the United
nsss-.
The Government" and not merely
~ prosecuting officer. - the court
b informed, opposes any modification
b>canse Il would be looked upon by ell
violstors Of law as an indulgence.
The Northsn Securities case. the
upurt 10 told through the newspapers,
b not an ordinary case Of equity juris-
diction between private parties but
b q suit under penal law, which 10 true,
Inasmuch as the law declares a certain
form OF contract illegal and also pun
isbes the makers Of the contract a. for
: misdemeanor.
Tho President did not, however, order
NJ defendants, a. We assume, to be
prosecuted criminally. 1t was the con-
ND that 10 to b judicially declared
illsGal. That has been done. and 10 the
~. unless the Supreme Court shall
'sverne the decree.
!: But what OF the money TO be paid to
ihe holding company as dividends by
~ defendant roads, Why not permit
1 TO b paid to it, ownepf What sort
q . reason In law. equity. ethics. public.
mivate. or political morality, does the
attorney General assign for this action
What ID to be done with the money
b It to b escheated TO the public |
treasury, In order to compel the two |
ie1sndant roads TO compete?
There ID funny aspect of the situation
shioh tho profoundly serious public |
condition obscures. Assume that two
Asch excellent and law-abiding gentle |
uen a. the two Ohio Senators owned,
- d them . majority Of the shares
= the Great Northern, and the other a
Iajerity Of the shares Of the Northern |
Papinc, and the Attorney General, hav-
u summoned both into his presence,
I'D 10 than:
= Your railways don't compete? Why
y kf'
I. The Senators reply:
- Oh, w are reducing expenses OF |
,poration to the lowest limit consistent
m perfect railways, and We are giving
b Ill customers the lowest rates con-
lent with or o per cent. dividends
. our shareholders. All our patrons
w content
Il see,' replies the Attorney General.
you have been speaking with one an
tier concerning rates and entered into