Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1903-04-15
4 BLOW At THE MERGER.
Decision of Circuit Court Is Against
the Northern Securities
Company.
COMPANY DENIED RleH1 TO VOTE STOCK
Return of Such Stock a. Has Been
Delivered to the Securities Com
pany IL Al1Oved-The Opinion Of
the Court Written by Judge Thayer
II Unanimous.

st. Paul, Mimi, April 10.-The Unit
ed States circuit court of appeals
Thursday noon handed down deci-
sion in the suit of the United States
against the Northern Securities COM
pany, enjoining the company from
voting the stock of the Northern
Pacific or Great Northern Railway
companies, but allowing the return
of such stock as had been delivered
to that holding company. The opin-
ion was unanimous, all four judges
concurring, but the opinion was writ
ten by Judge Thayer. The substance
of the order is in the decree, which
is as follows:
The Decree.
"A decree in favor of the United
States will accordingly be entered 20
the following effect: Adjudging that
the stock of the Northern Pacific and
Great Northern Railway companies,
now held by the Securities company,
was acquired in virtue of combina-
ton among the defendants; in re-
straint of trade and commerce
among the several states, such as
the antitrust act denounces as IL
legal; enjoining the Securities COM
pany from acquiring or attempting
to acquire further stock of eithe1 of
said companies; also enjoining It
from voting such stock at any meet.
ing of the stockholders of either OF
said railroad companies or. exercis.
ing or attempting to exercise any
control, direction or supervision or
influence over the acts of said conf
panies or either of them, by virtue OF
its holding such stock; enjoining the
Northern Pacific and Great North
ern companies respectively, their
officers, directors and agents, from
permitting such stock to be voted by
the Northern Securities company OF
any of its agents or attorneys on its
behalf at any corporate election for
directors or officers of either of said
companies and likewise enjoinine
them from paying any dividends tc
the Securities company on account
of said stock or permitting or suf.
fering the Securities company to ex.
ercise any control whatsoever over
the corporate acts of said companies
or to direct the policy of either; and
finally, permitting the Securities
company to return and transfer to
the stockholders of the Northern
Pacific and Great Northern compan.
les any and all shares of stock OF
those companies which it may have
received from such stockholders in
exchange for it's own stock, or to
make such transfer and assignment
to such person or persons as are the
holders and owners of it's own stock
originally issued in exchange for the
stock of said companies"
The defendants are the Northern
Securities company, the Northern
Pacific Railway company, the Great
Northern Railway company, James
J. Hill, William P. Clough, D. Willis
James, John S. Kennedy, J. Pierpont
Morgan, Robert Bacon, George F.
Baker and Daniel Lamont.
VIII BE Appealed.
New York, April 10.-The case of the
Northern Securities will be appealed
Knox Deserves Credit.
Pittsburg, Pa, April 1o.-When in.
formed of the decision in the North.
ern Securities merger case, D. r.
Watson, special counsel for the gov.
ernmeht, said:
''The credit for this victory belongs
to Attorney General Knox. He first
thought the case through and arriv.
ing at the conclusion that the forma,
ton of the Northern Securities com.
pany and its acquisition of the ma
jority of the stock of the Great
Northern Railway company and the
Northern Pacific Railway company
was a violation of the Sherman anti;
trust law, he so positively advised
the president and instituted the case
decided in St. Louis. He has cour
ageously and honestly pressed the
case, and the decision of the courl
fully sustains him in his course"