The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-04-20

publishes the following statement from
an authority whose identity is not dis
closed:
The suit in ST. Paul" he said. was
brought merely to clear the atmosphere
and never was expected to have any other
result. If the action had been brought
In New Jersey, before intervention had
been tried in Minnesota, the New Jersey
court court might have said to Mr.. Hartman,
You are asking US to take up a matter
winch is In process of adjudication in the
federal courts. How do you know that
you cannot get the relief you are entitled
to there? After Judge Sanborn has re-
fused to allow the Intervention as he is
expected to do, the New Jersey action
cannot be stopped in that manner.
"A repleyin is a law action but the
courts have fallen into the habit Of talk
ing about an equitable this and an equit-
anle that meaning proceeding in an
1t IS slipshod way of talking and Of
proceeding, and never should have been
begun, but the courts do allow such pro-
ceedings. Now, Mr.. Harriman's case for
repIevln is not quite clear enough for a
law court, SO he will bring it, l am in
formed in an equity court.
His contention will be that as the
supreme court has declared that the
Northern Securities company has violated
the law in acquiring the two roads, there
never has been a valid purchase Of the
stocks OF the subsidiary concerns and
that the sO-called purchase of the stocks
is void and of no effect. If this contention
Is upheld it naturally will follow that the
stocks of the Northern Pacific and Great
Northern roads are now and always We're
the property of the holders who turned
them in for conversion
Ready to Trace Shares.
Mr.. Hartman proposes to regain his
stocks by replevin. and that each share
of stock shall be traced through success
sive transfers of the Northern Securities
certificate which stands for it to it's pres
ent ACTUAL owner You will remember that
Mr.. Guthrie stated to the court that it
was possible to trace all of the transac-
lions so as to return each share to the
holder of the certificate that was issued
In :, exchange for it; This plea, Of course.
will be used in the New Jersey suit to
support the idea of replevin.
rs 1t reasonable to assert that the
shares Of the two controlled roads never
We're legally purchased, and that in the
eye of the law. they still are owned by
the original holders?' the reporter asked.
NO: was the reply. THE court has
not SAID that the purchases OF stock them
selves We're Illegal, and think Mr.. Har-
rlngton S action will fail for that reason.
1t would not have been against the law
for the Northern Securities company TO
hold the stock of one of the roads. 1t
was the common ownership Of the two
roads that the supreme court declared IL
legal.
I'm fact, the decree of the circuit court
Of appeals. which the supreme court af-
f1rmed. did not even declare the owner
ship Of the two roads illegal 1t simply
troll was an illegal restraint of trade, in
pursuance of which finding the court en-
joined the Securities company from vot-
ing the stocks of the two railroads or
from receiving any dividends upon them.
Transactions Legal.
"The Northern Securities company be-
gan, let US say, by acquiring 900 shares
of Northern Pacific. Then it acquired 600
shares Of Great Northern, and the eX-
change probably continued thus in an ir-
regular manner. Now, none of these trans
actions can be declared illegal. If the COM
pany had secured only 80 or 40 per cent
of the stock of each road presumab bly,
the courts would not have acted.
But there is better reason than that
why Mr.. Hartman cannot be successful
in an equity court. and that is the we'll
known principle: A man must came into
a court Of equity with clean hands Mr..
Hartman must tell the court that he is
seeking justice that he cannot get by any
other means. but it is too apparent that
Mr.. Harriman's real motive is desire to
control a rival of the Union Pacific This
peculiarly, is a case in which the court
will be disposed to regard the Substantials
Of the situation, following the example
set by the supreme court"