The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-04-10

The decision in the case of the Unit
ed States against the Northern Securi-
ties company, brought by the govern
ment on the grounds that the forma-
ton of the Northern Securities COM
pany was in violation of the Sherman
antitrust act, was filed with the clerk
of the United States circuit court in
st. Paul yesterday.
The decision, written by Judge Thayer
and concurred in by Judges Sanborn,
Cald"Cll and Van Deventer, Is in fa-
vor of the government. it being held
that the stock held by the Northern
Securities company was acquired in
virture Of combination among the
defendants, in restraint of trade and
commerce among the several states,
such as the Sherman act describes as
illegal.
Contrary to predictions, the an
nouncement of the decision had but
little effect upon the stock market.
The news did rot reach the New York
stock market until shortly before the
closing hour, but there was nothing in
the nature of a panic. Northern Sc
Curities stock opened yesterday morn
ing at 104 Is and had reached 106 3S
before the decision was made public.
When the markets closed for the day
the stock was selling at 102 1-2. Other
stocks were not noticeably affected.
In the absence from the city Of Will
liam p Clough, NJ. D. Grover, c. w.
Bum and others who were interested
as counsel for the securities company,
it could not be learned yesterday
whether an appeal to the United States
supreme court will be taken or not
After the decision was made public
yesterday noon little else was talked on
the streets.
Attorney General Douglas, comment
ing on the decision, said:
Il have not consulted with the gov
ernor or my assistants, but the litiga-
ton brought by the state will probably
continue for the purpose of inviting
decision by the courts as to the force
and effect of the state laws. The action
now pending in the circuit court of the
United States, brought by the state of
Minnesota, is based both upon the stat
utes of the state prohibiting the con-
solidation of the stock of parallel and
competing lines of railway and the act
of congress known as the federal anti
trust act, upon which the decision in
the United States can be predicated
The action of the state might we'll be
discontinued, were 1t not for the possi-
bic necessity of developing the force
and effect of our state laws. A favor
able decision in the states litigation
may be of possible value in the future
to the general public, for the reason
that we may not always have a Theo-
dore Roosevelt as president and Mr.
Knox in the office of the attorney gen.
eral of the United States"
Governor Is Happy.
"All that have to say on that sub
Ject at this time can be summed up In
the statement that 1 am inexpressibly
happy, said Gov. Van SAINT yesterday
afternoon when seen by h e Glob e
In regard To the decision in the North
ern Securities case. Il was at Wabasha
When learned of the decision and have
only just returned, SO l have really had
no time to inform myself fully and
therefore would not at this time enter
any detailed comment on the matter.
Probably will desire to say something
further tomorrow"
The case, involving as it did millions
of dollars and the greatest financial
men of the world, is considered one of
the most important ever tried in this
country. 1t was commenced a year
ago, the first notice of the suit being
filed March 10, 1902. After answers and
replies had been filed, F. G. Ingersoll
was appointed sepcial examiner last
US Uot' attorney Genefal Knox asked
Tor special sitting of judges, under a
special act of congress, and Judge
Caldwell, the senior circuit Judge. cali
ed the court for March IS, the hearing
pelng held in st. Louis March IS. 10
and 90 ' -
The attorneys who appeared for the
PlalhtlH in the case were Attorney
General P. c. Knox, Milton o. Purdv.
John K. Richards, William c. Beck and
John ,. Watson. For the Northern Sc
curltles company the attorneys were
francis Lynde Stetson, David Wilcox,
John w. Griggs, George B. Young. M
u, Grover and C. w. Bum.
The decision, which covers the b;s-
tory of the famous case, is as follows:
The Decision.
Thayer. circuit judge, stated the con-
clusfons of the court
This is a bill. exhibited bv the Tinted
States, to restrain the violation of an act
OF congress. approved July 9 1890 G26 ST
200, c. CAD. entitled "An act to protect
trade and commerce against unlawful re-
straints and monopolies'' which is com
monely termed the Sherman ANTITRUST
act The case was heard before a circuit
court composed of the four circuit Judges