The Birmingham age-herald., 1907-12-17
MONOPOLY GERMS
 IN WORST FORM FiSh'S Counsel Attacks Harri- mans Methods of Procedure AGAINST LAW OF ILLINOIS Edgar H. Farrar Presents Argument Against Giving Edward H. Harri-
 man Power To Control Stock
 of the Illinois Central.

Chicago, December 16.-The legal argu- ments in the case of Stuyvesant Fish against Edward H. Hartman, involving the matter of voting certain shares of stock at the postponed annual meeting of the stockholders of the Illinois Gen. tral Railroad company, were continued today before Judge Ball In the superior court
 Edgar H. Farrar, counsel for MT. Fish, devoted his attention particularly to the Railroad Securities company of New Jer- sey, which holds the stock Mr Hartman wants to vote. MT. F'arrar urged that the charter of this corporation contains the power and germs of monopoly in its worst form. It was he said, the North ern Securities company, not confined to the control of two corporations, but securities company which spreads it's wings over every state and territory In the union. He contended that such a corporation could not come into Illinois and own and vote stocks in the public stocks corporation of this state since to do so would be In conflict with the public policy laws of the state. MT. Farrar had S4 law books on the table near him, and he quoted liberally from these volumes to fortify his position.
 After Attorney Farrar had consumed considerable time in reading he resumed his argument.
 This corporation" he said, cannot exercise under the statutes of Illinois any corporate powers or functions unless the statutes permit similar body to be or ganized in the state. The legislature of any state may impose any limits it sees fit so long as they are not in contraven- tion of the law"
 MT. Farrar then read from the statutes of Illinois, declaring that the charter of the Railroad Securities company con- tained provisions contrary to the laws of the state, and that therefore it could not properly exercise corporate functions in the state.
 The entire latter part of the morning session of court was consumed by Judge Farrar in the reading of legal decisions in support of the position taken by him that the Railroad Securities company could not properly act inside the state of Illinois,
 Continuing his citation of authorities during the afternoon, Attorney Farrar pointed out that courts had decided that the Chicago Gas Trust company, a local COrpOrallOn, nad been IOrDlQuen 10 own stock in other Illinois corporations. He followed Up with excerpts from numerous other decisions, both In the courts of Illi- nois and other states, where similar laws exist, showing that domestic and for egn corporations had been forbidden to own stock In other corporations, and as serted no foreign corporation could pos- sby have rights in Illinois which were denied Illinois corporations
 ad at A.Qa xuha Farrar complained of fatigue. Farrar will resume his arguments tomorrow Mir Fish today received the proxies tor 1850 shares of Illinois Central stock hol1 by Baron Rothschild & Sons, European bankers. The proxies are said to have been sent through Winthrop F. Scarritt who is representing MT. Fish In Lon don. It was rumored in railroad circles today that the scramble for proxies had been renewed with unusual vigor on the eve of the adjourned meeting, which will again convene in Chicago on December IS.