The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-04-21

proper for the security of the opposite
party. 1t is the customary practice for
ever their action will not injuriously af7
feet the rights Of the party who has Sc
cured the injunction. In this case that
party is the United States; The main IN
prevent the Northern Securities COM
pany from controlling and operating the
Great Northern and Northern PACING
railroads, and to accomplish that end II
enjoins that company from exercising any
control over their operation and from
acquiring or voting any of the stock OF
joins the railroad companies from pay
ing to the Northern Securities company
any dividends on their stock. This Is not
an application to suspend the injunction:
The defendants ask only that the part OF
the injunction which forbids the payment
Of the dividends be suspended during the
tendency of the appeal.
These dividends do not belong. and
cannot in any event be paid to the United
States. 1t does not claim to nave, ana 1t
has not, any pecuniary. interest IN them;
It's purpose in prosecuting this suit and
it's interest in the Injunction are only
thereby to enforce the law against IL
and to prevent the Northern Securities
company from controlling, directing, own
ing, operating or interfering with the
competing railroads. This interest, 1t VIII
be noticed, is protected by that part of
the injunction which forbids the manage
ment or control of these railroads by the
northern securities company dliO lOi bluo
it from voting or acquiring any stock OF
these railroad companies. IhlS portion
of the injunction, indeed every part OF the
decree and of the Injunction IS IN 1or ti
and will continue in force during the
tendency of the appeal in any event
During this time the United states has
and will have, under this portion OF the
decree. which will not be modified or sus-
pended, a complete remedy for any viola
ton of the Sherman antitrust act, should
it occur, both by proceedings Tor contempt
III i,i11 nd NJ mr.
under the penal clause Of the Sherman
antitrust act.
1.-The appeal in this case will probably
be determined by the supreme court about
November, 1903. 1t Is not perceived how
the payment or the retention of these
dividends during the tendency of this
the United States in this litigation, and
the only question here is whether these
dividends shall be piled up in the treas
uries of the railway companies or paid
to the stockholders, to whom they legally
belong, and who must ultimately receive
them whichever way the final decision
in this case may be.
These dividends will ultimately go to
the stockholders of the Northern Securi-
ties company, whether paid as they are
earned or after the final decision; If the
railroad companies are permitted TO pay
their dividends to the Securities company,
that company will pay them over to IT'S
stockhoders The deergg permits the ne
exchange their stock for the stock OF the
railroad companies for which it was is
sued If the supreme court afflrms TINS
decree. the stockholders of the Northern
Securities company can exchange their
stock for the stock of the railroad com
panies and can draw these dividends upon
the decree, the same parties can draw
these dividends upon the Northern securi-
ties stock. The retention of the DIVIDENDS
by the railroad companies, while the ap-
peal is pending, would not enhance or
speed the enforcement of any legal right
of the United States, while it might in in
fiict unnecessary loss and injury upon the
stockholders who are justly entitled to re
ceive these dividends as soon as they are
earned.
'"The order of the court will accordingly
be that the operation of that portion OF
the decree which enjoins the railway com
panies from paying the dividends upon 9S1
their stock which is held by the North
ern Securities company. be suspended
during the tendency Of the apps appeal II upon }Sn
sum of $50. 900 by or on behalf of the de-t
PENDANTS conditioned that they VIII prose a
all damages that shall result to the United
States by reason Of this order. or