New-York tribune., 1903-03-21

stock owned by Mr.. Hill and his associates IN sucn
a position that 1t could not be uisiodged oy any
ordinary assault. thereby securing permanency and
the policy which looked TO the development Of both
me roads and the country which tney u Ta ~ ion1
property. constituting one united system toward
the East OF which the Great Northern ana -xorh IN
Pacific Coast.
HONEST AND BENEFICENT PURPOSE
This original purpose limited TO the participation
0atnra1 5 ahd ms ,. LA bcb ont Of con
sdera tons OF fair dealing only extended to an 1e
Thus every step of the proceeding which IS set
forth and explained in detail by these gentlemen in
their evidence without the gansaying or contraoic5
consistent with the original honest and benehcent
When the Northern Securities Company had ac,
quired majority Of the stock of the two raliroad
control the policy Of aS the two ranroads than did
Mr Hill and his associates under the former cor
pooling or merger in the sense charged in the : bill
Whatever influence they desired In both companies
they already possessed There existed mutuallty OF
moral and not legal conditions was concerned they
possessed that The objects motives and purposes poses
inal ones charged by the government. Those mo
liable to the hearts and consciences OF the actors
and in nowtse injurious to the public They dld
not change in any practical way the situation 80
far as competition between me two Companies pde7
status OF one company toward the other, nor in
any wise interfere with the internal organization
no1ver ~ Of n the NorIb. @ % sarities CionDanv to con-
the answer that that j: an incidental result. and
Neither Of the railroad companies. such. par
ticipated in any way in the formation OF the Sc
panies had any more relation to the matter than
nr n9S m t9 oa T1e m Gay the PpbS aTke
In answer to tho allegation Of the government In
ing & OF f tne vr STOCKS od od me t9 ad b the comp
mt tS intended IN offensive
an application which cannot be derived from IN, The
stocks not pooled under anv trust arrange
ment agreement whatever and that term Is no
more applicable to the arranEeme1t tnan II WouId
he n one natural person had Durch spd In bis own
the ownership OF the stock that the dividends de-
clared and paid thereon 50 to the owner ana tn-s
Securities ComDany as owner than 1t would be as
We ask the court to keep in sight the fact that
the cooperation ~ these two railway companies
ties Company, intended. not for the purpose
Of nonopoizing trade. and commerce but for tie
purrose Of strengthening. auementins and extend
the trade and business Of tho two cOmDa7'es IN
fh 1qfh 6eT 0F srre TH rSst is not per
nicious but beneficial. and should BE- married. VIII
governmental obstruction.
When Mr.. Griggs finished. T. D. Watson began
the final argument for the government He said
that it was his purpose to demonstrate tina. the
merging os railroad interests by the Northern
Securities Company a most wilful violation Of
the antitrust act Isn't It the law Of cnmpet-
ton he said. that different roads traversing the
same territory will make different rates carry DIFF
ferent kinds Of commodities. different kinds OF
trains, and in hundred different ways seek TO
better their interests those Of their rivals?
But here the defendants have merged the interests
Of all roads in certain territory, and yet they
try that it is not done to the disadvantage
of competition. and that It will benefit interstate
and foreign commerce"
Mr.. Watson cited decisions Of the United States
Supreme Court length to show that various
phases Of the merger in violation OF the Sher-
man Antitrust act. He declared that man had
not the right to corner any commodity to such an
extent engross the market. nor monopohze
certain line Of business and therefore corpora
ton had not such right By the plain language
of the second section OF the Sherman Antitrust
act, he said any corporation monoDoiz1ng or at
tempting to monopolize business violated the law
ONLY PEOPLE WITH APPETITEs WANTED.
Several Restaurants that offer tempting
dinners to-day advertised among the
"Little Ads of the People,"