Weekly Watertown leader. [volume] (Watertown, Jefferson County, Wis.) 1908-1909, 1908-12-25
MISSOURI COURT
DRIVES THREE OIL
COMPANIES OUT
STANDARD, REPUBLIC AND WATERS
PIERCE CONCERNS ORDERED TO
QUIT STATE.
FINE OF $4,000 FOR EACH.
Supreme Tribunal Unanimous in Opinion
That Corporations Unlawfully
Restrained Trade.
STANDARD is WORST OFFENDER

JEFFERSON CITY, Mo-, Dec. %
The supreme court of Missouri handed
down decision this morning ousting the
Standard Oil company Of Indiana and
the Republic Oil company from the
state of Missouri, forbidding them ever
again to do business in Missouri, and dis
solving the Waters Pierce Oil company
of st. Louis. In addition each of the
companies is fined $4,000. The order
dlssolving the Waters-Pierce Oil COM
pany will become effective January Is,
next unless the company on or before
that date furnishes to the supreme court
satisfactory evidence that it intends to
operate as an independent concern.
Companies Restrained Trade.
The court finds that the companies
conSpired:
First-To regulate and fix prices to
retail dealers.
Second-To control and limit the trade
IN the refined products of petroleum.
Ihlrd-To control and limit and pre-
vent competition in the buying and sell
ing of these products
Fourth-To deceive and mislead the
public into the belief that they were
separate and distinct corporations pur-
suing independently their business as le-
gltlmate competitors.
The suit TO GUST the three companies
was instituted by Attorney General
Handley in 1905, and the evidence taken
by special commissioner in ST. Louis
and in New York, has been before the
state supreme court for more than a
year. The opinion was written by Judge
WoodsOn. All seven judges concur and
Judges Graves and Lamb wrote separate
concurrlng opinions.
Balm for Waters-Pierce.
Judge Lamb, concurring as to the action
against the Standard and Republic COM
panies, adds that in his belief the Wa
ters-Plerce Oil company should be fined
$1,OO0OOO instead of $4,000. Judge
Graves, in his opinion, thinks the Wa
ters-Pierce company should not be, dis
showed that H. Clay Pierce, who owns
40 per cent. of the capital stock of the
company, did all in his power to prevent
it from going into the trust. even losing
his position as president of the company
on that account.
The minority stockholders, Judge
Graves says, could not help themselves
and they should be protected. While
Judge Graves urged a greater punish
ment for The Standard of Indiana and
The Republic of Ohio, yet it was due 10
his influence that the Waters-Pierce Oil
company was not absolutely ousted from
Missouri.
Standard Oil Scored.
The opinion of Judge Woodson, which
was concurred i'll by the other judges,
states that the record shows that the
Standard Oil company has been guilty
of unlawful means in the formation Of
a trust to control the output of oil and
the prices at which it is sold to dealers
Individual investments have been blight
ed by the power of the trust and small
Independent refners and operators have
been forced to enter the service of the
company as hewers of wood and drawers
of water.
In conclusion of his report which COW
son says that the action in giving the
Waters-Pierce Oil company time in
which to sever its connections with the
trust is taken to protect the minority
stockholders.
Court Protects Stockholders.
The evidence it is said discloses that
the majority interests i'll the company
were owned by the New Jersey company
and that these interests displaced II.
Clay Pierce. the president of the Wa
ters-Pierce company, because of his per-
sistent effort to conduct the affairs of
the company Independent of the Stand
ard OH company of New Jersey and the
Standard Oil company of Indiana.
The punishment, he says. should be
severe enough to meet the crime commit
ted against the state, but the good faith
of the minority stockholders should be
recognized.