Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1908-07-04
SUPREME COURT DEF|ED

The Beef Trust dcfies the Supreme
Court Of the United States every day
Of Its existence.
1t defies and violates the permanent
injunction granted against 1t by tho
highest court of the country January
30, 1905.
And such Is Its power for harm. that
no official can be found who will stand
up for what the United States Supreme
Court decreed on behalf Of the people.
The Beef Trust continues Its exist
encc us combination In restraint Of
trade and commerce.
II continues to fix and to maintain
throughout the country uniform and
exOrbltant price for meat I'm defiance
Of the mandate Of the highest court
In the land.
The temporary injunction issued by
Judge Peter =. Grosscup May 20. 1902.
against the Beef Trust was made per.
n,anent by the United States Supreme
Court In a decision announced ..Innu-
airy 30, 1905. The decision establishes
these points:
Traffic In live stock transported from
State to State IL Interstate commerce
ana persons engaged In buying aud
selling such live stock are engaged In
Interstate commerce.
The combination between dealers to
suppress all competition In the pur-
chase OF live stock Ii an unlawful re-
straint OF trade.
The combination between dealers to
fS ana maintain uniform price In
the sale Of meat throughout the cOun-
try Ia an unlawful restraint Of trade.
The combination of dealers to OBJ
tain preferential railroad rates. Ia IN
unlawful restraint OF trade.
All combina lions suppresslng compe-
tltion between independent dealers fall
under the prohibition Of the Sherman
Antitrust Act.
~6A
The most awful thing In the history
Of this Republic from its foundation
to the present time. In the open. tia.
grant defiance by the Reef Trust Of
the permanent injunction granted
against 1t by the Supreme Court OF the
United States. II the Supreme Court
can be fOuted by multi-milllOnaire
law-breakers. what has become Of our
Government?
A stringent State law IL needed to
regulate the establishment Of banks.
There are too many wildcat financial
schemes now In existence in Chicago.
Not wishing to compete with the big
banks. irresponsible people are starting
up small banks In the outlying districts
of Chicago. from time tn time. This
practice has had disastrous results
upon the business and financial inter.
ests of the entire city. Many hundred
small business men and traders have
been ruined by this class of institr
lions.
This nefarlOus practice should be
stopped and the only way to stop 1t is
by municipal legislation.
A provision onght to he made in the
city charter authorizing the city under
its police power to regulate the estab-
lishment OF banks and creating in
pursuance of this work board for
the examination of all proposed new
banking concerns. Such n board
should he given ample power to exam
Inc into the financial standing of the
promoters of these institutions, and
none should be allowed to be licensed
unless such rs could show assets ample
for the carrying on Of their business,
sufficient to cover the amount of their
deposits, and sound and substantial
enough to thoroughly protect their
depOsitOrs.
There can be no question as to the
right and the justice of the city to