The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-02-02
SUIT BEGUN
To DISSOLVE
BIG MERGER
Continued from PAGE 6.

curities company for said stock so trans
ferred to it, in addition to a certain
amount OF cash, shares of said Northern
securities company aggTegating So. 81
par value, which said shares were Issued
IN the name of the defendant Hartman
and one WinSloW s. Pierce, who was the
road company, who, however. had no per-
sonal interest in the said shares but held
the same for the benefit and on account
OF the said Oregon Short Line Railroad
company and pursuant to the conspiracy
above averred;
That the said preferred stock of the
Northern Pacific Railway company was,
pursuant to the charter and terms upon
which said stock was issued. duly retired
and an additional issue of common stock
in the same amount was made, so that
the par value of the stock of said North
ern Pacific Railway company remained
at Sl55,O00OQ0, but the same was all in
one class, to-wit common stock;
That thereafter an action was duly
brought by the complainant, United
States of America against the said North
ern Securities company and others in the
United States circuit court for the district
of Minnesota. in which said cause a de-
cree was duly entered, adjudging that the
said holding of the stocks of the North
ern Pacific Railway company and the
Great Northern Railway company was IL
legal, as in restraint of trade and in VlO-
lation of the act of congress approved
July 2, 1890. entitled, AN act to protect
trade and commerce against, unlawful re-
cree was affirmed by the supreme court
of the United States 193 y. s., 1919;
That thereafter the board of directors of
said Northern Securities company adopt
ed resolutions for the distribution of the
shares of the capital stock of the North
ern Pacific Railway company and of the
Great Northern Railway company among
the shareholders of it, the said Northern
Securities company, pro rata, but that
the said defendants and their associates
Who had so caused the shares of said
Northern Pacific Railway company to be
acquired for the purposes above stated,
opposed and protested against the said
proposed distribution among the share
holders of said Northern Securities com
pany, and the said defendants, Hartman
and Oregon Short Line Railroad company
and the said Winslow s. Pierce, in whose
name jointly with said Hartman the said
shares had been registered, together with
the Equitable Trust company, corpora
ton of New York, with whom said shares
had been deposited as trustee to secure
obligations of said Oregon Short Line
Railroad company. exhibited a bill of
complaint against said Northern Securi-
ties company in the circuit court of the
United States for the district of New
Jersey, praying for an injunction to re-
strain the said pro rata distribution and
return and transfer to them by said
Northern Securities company of the
shares of common stock of said Northern
Pacific Railway company which were Sc
delivered TO said securities company by
said Hartman and Pierce, and the shares
of common stock into which the preferred
stock of the Northern Pacific Railway
company delivered by them were con.
verted in exchange for the certificates Of
stock of the Northern Securities company
so issued to and held by the complain
ants in such suit:
That in said action a decree was en-
tered by the said circuit court granting
the injunction prayed Q32 Fed. Rep, 464)
from this order an appeal was prosecutec