Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1904-03-31
DECISION ON MERGER
WALL STREET EXPECTS THE
LAW TO Be AMENDED
cLEWs REVIEWS EFFECT ON MAR.
kET CONDITIONS ADMINS.
TRATIoN's ATTITUDE.
STOCka

new iork' March is.-Ihe North'
ern Securities decision, as expected,
proved adverse to the merger. and the
.,oc, rarre, ro,,,ed shor,,v IN oorso.
-.
4uen,e pa.'y 90 iesuie VI .ne ie
ma. VI suspense anu patty ueoau'e
SN'.n'e sno,' eo'e!'ne. .ne ue
Nso" 10 one y, .ne nno'' ,nhporoan' 10
80. ~ sne H"p ou' VI Wv
u o,"'ea III many sea,s, anu ns
w oe ,;, " e "ue
.ue, 'ae Hou.' VIII ierea''er 'she 'nI
ea"e a..''uue 'o"arus an industrial
.oho,n".,o" nut ihonopo'! as ~ hs'
uone III 'ne ease VI q ,aiiroau which 70
qu"srp.onc nionopoiy Ieina,ns " W.
seen Is Iu''e cer,a'h una. 'he uee'
s,on opens 'he way ,or iur'her hisa
uoh, put when ior .ne present is NOT
'he'y " io'o". i"e ADMINISTRATOR
mas oeen suoeesslul IN ,hls sun, anu
seems Wisely u,sposeo 70 'eave 'ne RAN
'oaus a,'he WIN IL a,so ,ed'e Tue IN
ous'lia's aiohe' OF VIII u De lorcea
" se'ec' one vi 'hese nominations ior
es' case! anu what VIII oe the
eo"rse Vi Tue poilt.cai opponents .!
'he auiiiii,,s're'ioh' inese are al
questions 'hat we shouid IKE 10 an
s"er put are uhaoie 10. Is 10 De
hopeo 'hat sooo sehse anu NOT pohucs
VIII prevail anu that the adjustment
., sucn Important issues VIII not Do
a.tehp'eu wheh VISION ana Judgment
are warped py the neat OF a presiden'
.iai campaign. mat Is not the time
ior cam cohsiuera''oh' oh the o'her
manu- the uecisloh is an exceedingly
whoiesome one from pubic point Oh
View' hailroad CONSERVATION must
now progress along lawful ana more
natural hhes' anu the nhanclal COM
muhty mas Deen spared the tidai wave
OF speculation mat would nave ehguii.
ca the speculative STOCK operators nao
the merger gone through TWO years
ago. 10 say nothihg OF the ahtFcapital
crusade that IL "ouid nave inevitably
created LOT tne pohticai campaign OF
i'o4. ohe other result Is quite hkeiy
10 follow this decision ana that is the
amendment OF the sherman ANTITRUST
law. Ihere is vast diHerehce ne
tween reasonable anu unreasonable
contracts IN restraint Oh trade ana the
present ANTITRUST law VIII prooapiy De
amehded later on so as 10 give the
courts hDerty III deciaing what re-
straihts are reasonable ana "hat are
not. rive Oh the Judges out Oh nihe
were OF OPINION that the sherman Ia"
iorpids reasonaDie as wen as uhrea'
sohaDie restraints; out as Judge Brew
er e'idehtiy cohsidered tne Northerh
securities merger an uhreasonaoie re-
S.raint' ne Cast MS vo'e ad'erse'y'
showing 'hat inc 'eraict Oh the nishes'
tribunal upon most 'i.ai point ID ue'
pehuent upon the duration Oh sihs'o
: ne. IL Is unhheiy, no"e.er' ina. any
ne" ies'sia.ioh VIII DC a''enip'eu 'h's
SESSION oi congress.
me Improvement IN s,ocks "hic"
. io'ioWea tne merger aec's'oh was iur.
tner stimulated ny oe''er accounts VI
the iron .raue anu cohtlhueu ease III
money rrices Vi iron anu steer ha'e
oeen quietly haruehihs the ias. lew
Weeks anu now that the coh'ic'ion mas
oeen reaehea tna' prices are NJ oo''on'
,evei oraers he'u oack ior moh.ns are
Deins placed, ana 'he OUTLOOK ior al
xmas Oh steer prouuc's Is Det'er .ha'
a. any ,inie since 'ne ,eac'ioh oesah !.
WINE .ne western roaus seem W nav
nearly hh'sheu their extensive o"'ays
! lor improvements. 'n's - ~. '"e .a'.
win 'ne u,s 'as.n ia'""'s, "en
are anu wiz pe ,ol soHie ,'ine " eun ns
nea'y buyers Vi run anu s,ee' ne
ehhsyiVshia' io' instance, nus aHa
ny p'aceu Sohe 'aise v,ues ~ ny
na'Ne' "n''n 70 no' ".."ou. oe
eanee' seu 'nis sopa' ney ..
ways eNhios eAoep',Ua' e"e"ens'
III ,'s opeIa''on1. "ne'ne, :" .ne nnan
ga. na,Ne'' M ~. :" 's pu.nas.s VI Nv
nia'erlals' 'anspoi.a''Un m
po'e". ,,, a ~ 'no 'ue
e' W.. .op .' s''.,' " ~.
' 'o' ~" CIV ~" .,. ."
wv Vi me- Gnu 'n.s 20 quo