The Red Cloud chief., 1904-03-25

carrying companies. is declared to be
in violation of the law against comb
nations in restraint of trade.
It is not the first victory that the
Sherman antitrust act has scored in
the Supreme Court, but ii is the great
est. The railroad cases which pre-
coded had to do with rate agreements.
the decisions against Industrial meth
DDS were directed against price SEIZED
ules. This recent opinion struck at
tho corporation itself, IL went beyond
the mere incident of u rate, of "A spe-
ciic violation Of the law. and held
that the formation Cf n company TO
operate competing properties, even
though the announced Intention Is
one of economical operation, Of lower
rates or of greater benefits 10 the
public. the thing itself is wrong.
The Northern Securities company
must disband, resolve itself into its
units. the Northern Pacific railroad
and the Great Northern railway. Its
S4UO. 0O0. 900 stock issued for the for.
mcr at 115 for 100 shares and for the
latter in the proportion OF $50 for 100
shares will be r~c.eXchangod. The
Burlington. the third part of the com
hine, is controlled by the other two.
The ownership will remain in the
same hands. the management will not
be changed. The policy will not be
altered. but the power of the court to
go beyond dissolving the corporation
was recognized. The corporate en-
bodiment of the scheme of ~unification
alone is struck down. The apparent
contradiction between corporation and
individual holdings of securities of
competing properties split the court.
and the balance was against the great
scheme Of j. =. Morgan and James j.
Hin.
The majority decision was support
ed by Justices Harlan. Brown, Mckcn.
ma, Day and Brewer, the latter differ
ing as to the method OF reasoning,
but agreeing with the conclusion. II
minority likewise was partially dis
iointed, Justice Holmes reading an
opinion in which Chief Justice ulle
and Peckham united. Justice White
delivering a personal opinion more
radical than his fellow dissenters, But
there is no hope held out in any OF
the dissenting opinions OF a rehaDiii-
tation of the scheme. Justice White
stands alone in opposition TO the paslc
principle of the antitrust act, when
he characterized as obstructive oi
human liberty and destructive OF ev'
cry principle upon which organized
society depends
Justice Harlan and his three asso-
ciates gave a wider latitude to the
antitrust act than previous decisions
which were directed against specihc
violation of it's terms. The supreme
court throws the mantle of the act
over any company or combination
which puts into a common ownership
the stocks of competing railroads ahd
inferentially competing INDUSTRIES
II holds that such consolidation Oh
merger destroys and restricts trade
and as such restraints trade and II Is
not necessary to cite specific acts.
With five judges in its FAVOR, tne
construction of the law 10 "'''u..
there is no evasion; no escape Ihe
reach for corporation power has been
grandson Of the mikado' :,
Perhaps the most Interesting SINAI
boy in the world is the little rrlnce
Micchi, grandson of the japanese
mikado and destined himself TO be
mikado some day. He will be 4 years
old next month. The heir presump
1--WE 10 the great eastern throne ha'
me distinction of being the trs;Noaps
Of the royal house of Jimmu Tenn'
who has been allowed to grow M
hair like an English baby, Both nj
father and the mikado, when paDies
had heir heads shaved daily by 'he'
nurses.