Durango semi-weekly herald., 1904-03-17
TELEonApH,c NEWS,


preme court OF the United States today
handed down It's decision in the IA
nous Northern Securities case. The
governments contentious were upheld
and the merger was declared 10 be in
violation of the antitrust act. Justice
Harlan read the decision.
The court holds that the evidence
fully sustains the charge that the de-
fendant is attempting 10 monopoiize
or is monopoizing interstate trade.
and is an Illegal combination in re-
straint of traffic.
The Northern Securities company is
shown TO be the holding corporation
for nine-tenths of the Northern Pa
cifc and three-fourths of the Great
Northern stock.
"The combination" read Justice
Harlan lis one in the shape of a trust.
There Is no scheme or device which
could be more thoroughly in restraint
OF commerce. II is n menace and
restraint to trade"
The Northern Securities company
was formed by J. j. Hlll and others
who secured control of the Great Nor
thern and the Northern Pacific in 1901,
these roads Jointly securing control of
the Burlington in the next year.
Their combined capital is sS90.0GO,.
900, and their trackagc over q 900
miles After the State Of Minnesota
began the fight. the federal govern.
ment took 1t up at President Roose-
veli's direction.
In declaring the late Northern Pa
cific-Great Northern merger Illegal at
all points as the supreme court did
today. all similar combinations will
now have to dissolve. The opinion OF
the circuit court OF tho District of Min
nesota was affirmed in todays decis-
lon. and the effect Is to sustain the
contention that the Sherman antitrust
law applies to all railroad combina-
tions.
Judge Harlan said: 'ln the merger
Of the two roads stockholders disap
peared to reappear In the Securities
company. the two thus becoming prac-
tically consolidated, the object being
to prevent competition. No scheme or
hCfitC iohIi iii'l' th'NllNtiN
come within the prohibition of the an.
tl-trust law, and II is therefore within
the meaning of the act trust"
The case reached the United States
supreme court on an appeal from the
decision of the federal circuit court
which enjoined the Securities con-.
pany from securing, attempting to Sc
such stock, as IT held and directed the
officials of both the Great Northern
and Northern Pacific not to pay any
dividends to the Securities company
and also not Allow their stock to be
voted by it; also not to allow the Sc.
cial acts in any way.
The court was divided FIVE to four
on today's decision. Those against IL
being Justice Holmes, Peckham. White
and Fuller.
WASHINGTON, March 1i.-Within
four years the United States navy
will be the second most powerful navy
in the world. or at least so near 1t that
even the experts will not be able to
determine which navy has the ater
actual effectiveness-that of the Unit.
ed States or of France. Paper esti-
mates of naval strength are not an
exact or mathematical science. and
expert opinions often differ. Blu, II is
apparent that at the end of 1908 when
the building programs now under way
by the great powers are finished, 1t
will be wholly a matter Of guesswork
as to whether the United States or
France Is entitled to the honor OF
standing second in actual prowess up
on the seas in fighting tonnage and
effectiveness.
Thus 1t is seen that the American
policy publicly declared the other day
in senate debates. to make the United
States navy rank next to that of Great
Britain. is much nearer realization
than most people had supposed In
fact, the rise of the American navy in
the scale of relative strength. It's pass
Ing first one navy and then another
In the race until now II is lively bid
der for second place is one OF the
most marvellous developments of the
generation. Twenty years ago the
American navy was almost zero, 1t
WIS a subject of gibc and Jest. Only
six years ago. when the Spanish-Amer-
lean war came on, 1t stood on paper
sixth or seventh among the worlds
navies. Today II is third. according
to that most excellent authority. Sen
ator Hale, chairman of the senate
committee on naval affairs and four
years hence 1t will be a competitor
for second place, No wonder our for
eign friends are amazed at the rapid
growth of the sea power Of The United
States.
Senator Hale's speech on the naval
outlook and the remarks of Senator
Lodge and other senators last week
were cabled all over the world and
attracted attention In every country
which makes any prelense to naval
power The announcement that the
United States already regards herself
as the third naval power. and that she
intends To move up another notch
may not he permitted to lie unchal.
lenged by our rivals. In his speech
Senator Hale gave Information con
cerning the growth and future of our