The news-democrat. (Providence, R.I.) 1906-1909, 1906-11-15

against the Standard Oil company OF
Ohio, one Of said corporations in 1892.
That during the seven years fol-
lowing the same individual de-
fendants as majority OF the
liquidating trustees were pretending
TO liquidate The trust. but as matter OF
fact were managing all of the corpora
lions In the same way, and exercising the
same control over them.
That the individual defendants in 1899
increased the stock Of the the Standard
OIL company OF New Jersey from $1,000
600 10 $ll0O O0.D0;
That said company was then a pro-
ducing ard selling corporation and they
added TO its corporate powers the power
of purchasing stock I'm ether companies
and practically all OF the powers exer-
cised by the trustees under the urlawfuI
trust agreement OF 1852:
That the Standard oil company Of New
Jersey then taking the place OF the trus-
tees, asquired the stock OF the corpora
tons therefor by the issue of its own
shares in exchange;
a That the presiden, OF the board of trus-
Sees became the president OF the Standard
Oil company cf New Jersey and the same
persons (the individual defendants), who
bad directed the business OF the trust
then assumed the direction OF the busi-
ness OF the Standard oil company of New
Jersey and ever since continued IL;
That the purpose and effect OF the use
oe'the Standard Oil company OF New Jer-
sey as a holding company was precisely
TIE same as the purpose and effect OF the
appointment OF the trustees herejnbefore
referred 10. namely, TO suppress competi-
ton between the corporations and limited
partnerships whose stock was first held
by the trustees and then by the Standard
Oil company OF New Jersey
That by the foregoing methods, aided
by the establishment or railroad rates
for transportation which Disseminated In
favor OF the corporations whose stock
was held by the holding company. that
company has been enabled to obtain In
large sections of the country a monopoly
OF the sale OF refined OIL with the result
that the prices to the consumer within
the territory where the monopoly pre-
walls are very much higher than within
the territory where competition 10 some
extent still exists.
1T is believed that these facts together
with others contained in the report of the
special counsel, justify and require ac-
ton by the United States in the courts.
Accordingly a petition in equity under
the provisions OF the Sherman act has
this day been filed against the Standard
OIL campany OF New Jersey and 20 other
corporations and limited partnerships and
the seven individual defendants before
named i'm the Eighth judicial circuit at St.
Louis, Mo, to have the said combination
adjudged and decreed to be unlawful and
that the holding and control by the Stand
ard Oil company OF New Jersey OF the
stocks OF the 20 corporations be declared
unlawful and the said corporations be pro-
hibited from declaring or paying any div
idents 90 the Standard oil company OF
New Jersey and be enjoined from entering
into or performing any contract or comb-
nation To restrain trade and commerce or
TO monopolize trade i'm the future.
The question whether any action of n
different nature should be taken Is reserv-
ed for future consideration. The con-
troversy Is now pending In the courts and
any further comment by this department
ror by any one connected with Il would
obviously be improper and unfair"