New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-03-15
ANOTHER PLAN READY.
NOBODY SEEMS WORRIED.
1nd Hill Thinks a RehedriHg Not
Worth ASbing For.
WENDELL HOLMES.

As opportunity had not yet been afforded
them 20 see the text Of the opinion. inanciers
identified with the Northern Securities Com
pany and attorneys who had appeared IN the
litigation were averse yesterday afternoon 10
commenting on the Supreme Courts action
James J. Hill. president Of the Northern securi-
ties Company. when seen soon after news OF
the decision had reached Wall Street. declined
to make any statement. merely remarking:
The properties are all there. Just as they
have been al along. They can't he taken from
us"
Mr.. Hi was in conference for some time
after the news came out with John s. Kennedy
who is yice-president. and one OF the largest
stockholders In the Northern Securities Com
pauy. and later held long conference with
Daniel s. Lamont and other directors on
lea wing his office for the day he asked
What effect will this decision have on the
other railroad combinations contemplated
You ought 70 know that well as do"
was the reply
.IFave you been ordered to redistribute the
stock
no. I haven't had any word from the court
vet"
What will you do2'
When it comes 20 a question Of the law. III
obey ;he law Its up to the courts 70 see II
they enforce the law"
"Will YOU move for a reheaT1ng,
Mr. Hill thought for moment. No he
said Il don't think we care enough for a
hearing 70 ask for it. The court was certainly
closely matched on the decision understand
that even The majority hold different opinions
on the case
Have YOU an alternative pIanT'
We'll not for publication" and Mr.. Hu
smiled.
CoIore wsIis2ln- - SIougfs. .sesrrth vice-presi-
dent and general counsel of the Northern Securi-
ties Company. was IN Washington yesterday.
At the offices of J. r. Morgan & co. no ex-
precision OF opinion regarding the decision could
be had. \ member Of the firm said. however.
that he was not surprised. Francis Lynde Stet-
son. counsel for J. Pierpont Morgan had long
conference with Mr.. Morgan late in the after
noon on being asked II he would make any
statement he answered.
1T is a matter Of such vast importance that
I would not feel justified In discussing il before
having read the full decision Of the court"
r. II. Hartman said that ne must read the
decision and thoroughly digest it and confer
with hts advisers before ne could feel himself in
a position to make any statement upon the sub
ject.
William r. Guthrie was unwilling to make
any comment rs his connection with the North
eru Securities litigation had not included the
case just passed upon by the Supreme Court OF
the United States. Ex-AttOrney General John
W. GrigSs, who was OF the attorneys for the
Northern Securities Company when the case was
argued before the Supreme Court. was in Tren-
ton yesterday. and James NJ. Beck Of Sherman
& Sterling who as Assistant Attorney Cen
eraI of the United States was associated with
Attorney General Knox in the prosecution Of
the governments case. Is in Boston this week.
\ we'll known corporation lawyer yesterday
said in regard to the decision:
The decision Of the court is not n great sur
prise 10 corporation lawyers who have studied
the questions involved. In the AddystOn Pipe
and Trans Missouri cases the court had al
ready indicated its policy on this all important
subject
l differ from those who see in the decision
anything that Will be hurtful 20 the healthfuI
growth OF the great railroad systems or other
industries Of the country within legitimate lines.
on the contrary, il seems to that the prin-
Ciple announced is long step in the right direC-
tOn and looks toward progressive and COuservR-
tive policy I'm the management OF great cor
porate interests and to their proper control
une il competing public corporations were per-
mitted to combine. matter how laudable their
expressed purposes at the time OF combination.
Given the power to restrict competition. IL
the combination was not ostensibly or really
made for the purpose. the end would he q
strctOn Of competition. and the people would
find themselves at the mercy Of the corporations
occupying the public domain. presumably the
servants OF the people. but really the masters
II hardly to be expected that. when the
courts had once determined that competing lines
could not combine they would approve Of any
device. however plausible. which brought about
the prohibited result by Indirect means. The
knight case decided In the United States Su-
preme Court. still stands In the way OF the
free application OF the rules of law laid
down by the court to Industrial corpora tiOns.