Vilas County news. [volume] (Eagle River, Vilas County, Wis.) 1896-1927, 1908-12-30
SUPREME COURT GUSTS THREE
FOREVER FROM BUSINESS IN
THAT STATE.
FINE OF $5eso0o FOR EACH FOR
UNLAWFULLY RESTRAINT
ING TRADE


from the state of Missouri, forbidding
them ever again to do business i'll
Missouri. and dissolving the Waters
Pierce Oil company of st. Louis. In
addition each of the companies is fined
$50 1000. The order dlssoIving the Wa
ters-Pierce Oil company will become
effective January Is, next, unless the
company on or before that date fur
nishes to the supreme court satisfac-
tory evidence that it intends to oper-
ate 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 i'm the refined products of Pc
troleum.
Third-To control and limit and pre-
vent competition in the buying and
selling OF these products
Fourth-To deceive and mislead the
separate and distinct corporations pur-
suing independently their business as
legitimate competitors.
The suit to GUST the three companies
was instituted by Attorney General
Handley in 1905, and the evidence TAX
en- by a special commissioner in St
Louis and in New York. has been be-
fore the state supreme court for more
than year. The opinion was written
by Judge Woodson. All seven judges
concur and Judges Graves and Lamb
wrote separate concurring opinions.
Balm for Waters-Pierce.
Judge Lamb, concurring as to the ac-
ton against the Standard and Repub.
lie companies, adds that in his belief
the Waters-Pi erce Oil company should
be fined $1,000000 instead of 5000.
Judge Graves, in his opinion, thinks
the Waters-Pierce company should not
be dissolved. He said that the evil
dence 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 pres
ident 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
to his influence that the Waters Pierce
Oil company was not absolutely GUST
ed from Missouri.
Standard Oil Scored.
The opinion of Judge Woodson
which was concurred in 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 in
vestments have been blighted by the
power of the trust and small indie
pendent refiners and operators have
been forced to enter the service of the
as hewers of wood and draw
ers of water
In conclusion of his report, which
covered 400 typewriter pages, Judge
Woodson says that the action in Civ.
ing the Waters-Pierce Oil company
time in which to sever its connections
with the trust is taken to protect the
stockholders.
Court Protects Stockholders.
The evidence, it is said, discloses
that the majority interests in the
were owned by the New Jer-
sey company and that these interests
displaced H. Clay Pierce. the presi-
dent of the Waters-Pierce company
because of his persistent effort to
conduct the affairs of the company in
dependent of the Standard Oil com
pany of New Jersey and the Standard
Oil company of Indiana.
The punishment, he says. should be
severe enough to meet the crime com
mitted against the state, but the good
faith of the minority stockholders
should be recognized.
HadIey to Enforce Decree.
Attorney General Hadley, who has
prosecuted the Missouri case since its
inception in March, 1905, will become
governor in less than month and
then will be charged with the enforce
ment of a decree issued yesterday.
The attorney general followed up
the PRONUNCIATION by the court with
statement in which he asserted that
attempts had been made to comprom-
Use the suit.
Sat least three efforts have been
made by the attorneys for the com
panies to get me to compromise the
suits" he said. II invariably told
them that the ultimate decision must
be made by the courts and refused
their offers. It was intimated to me