The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-11-16


! In HE saans way and exercising the SAME
control over them.
THAT the individual defendants in 1899
Increased the stockot shs standard oil Com
pany OF New Jersey from $4,000, 900 TO $780,
pOO, 900.
THAT said company was then a produce
ing and selling corporation, and they added
to its corporate powers the power OF pur-
chasing stock in other companies and prsc-
tically all OF the powers exercised by the
trustees under the unlawful trust agreement
tof 1882.
That the Standard Oil Company of New
Jersey, then taking the place OF the trustees.
acquired all Of the stock Of the corporations
heretofore held and controlled by the
trustees. paying therefor by the issue OF its
own shares in exchange.
That the president Of the board Of trus-
tees became the president Of the Standard
Oil Company of New Jersey and the same
persons (the individual ~defendantsD who had
directed the business OF the trust then as
sumed the direction of the business Of the
Standard Oil Company OF New Jersey and
nave ever since continued il.
That the purpose and effect Of the Use of
the Standard Oil Company Of New Jersey as
"A holding company was precisely the same
as the purpose and effect OF the appoint
ment of the trustees hereinbefore referred
10, namely, to suppress competition among
the corporations and limited partner
ships whose stock was first held by the
trustees and then by the Standard Oil Com
pany Of New jersey.
THAT by the foregoing methods, aided by
the establishment of railroad rates for trans
portation 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, witt the result that the prices
to tho COS Jumer within the territory where
the monopoly prevails are very much
higher than within the territory where
I, competition to some extent still exists.
1T is beloved that these facts. together
with others contained in the report Of the
special counsel, justify and eIuirc action
by the United States in the courts.
Accordingly, Il petition in equity under
the provisions Of tho sherman act has this
day been fled against the STANDARD Oil
Company OF view Jersey and %seventy other
corporation and limited partnerships and
the seven individual defendants before
named in the Eighth judicial Circuit. at
81. Louis. Mo, T. have the said combina-
ton adiud .ed and de"rced IT, he unlawful
and that the holding and control by the
Standard Oil Company of New Jersey of
the stocks of the seventy corporations
be declared unlawful and the said corpo-
rations be prohibited from declaring or
paying any dividends to the STANDARD Oil
Company of New Jersey and be enjoined
from entering into or performing any on
tract or combination to restrain trade and
commerce or to monopolize trade in the
future.
~The question whether any action OF a
different nature should he taken is reserved
for future consideration. The controversy
is now pending in the courts and any further
comment by this Department or by any one
connected with it would obviously be i'm
proper and unfair"
CHICAGO, Nov. 15.-Charles b. Morris.
one OF the special Attorneys-General who
drew up the bill against the Standard Oil
Company, reached the city to-day and said
IL probably will be several weeks before
the case is brought to trial at st. Louis.
The first thing is to get service on the
defendants" said Mr.. Morrison, "and get
them into court. Then an answer will have
to be fled by the defendants. After that is
lone the case win be pushed