Fergus County Democrat., 1908-12-29
DECISION AGAINST
THE STANDARD OIL
SUPREME COURT OF MISSOURI
HANDS DOWN FINDING
AGAINST TRUST.

JGHGISOn Ally, MO, DeC. Lo.- ne
supreme court of Missouri handed
down decision this morning ousting
the Standard Oil company of Indiana
and the Republican Oil company
from the state, forbidding them ever
again to do business in Missouri and
dissolving the Waters Pierce Oil
company Of St. Louis.
In addition, each Of the companies
was fined $50,00O
The order dissolving the Waters
Pierce Oil company will become eff
fective Jan IS, unless the company
on or before that date furnished evil
dence that it intended to operate as
an independent concern.
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 petro-
leum.
Third-To control and limit and
prevent competition in the buying
and selling of these products.
Fourtll-To deceive and mislead the
public into the belief that they were
separate and distinct corporations
pursuing independently their business
as legitimate competitors.
The suit to oust the three COM
panies was instituted by Attorney
General Hadley in 1905 and the evil
dence taken by special commissions
er in St. Louis and New York and
has been in the 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 concurring opinions.
Judge Lamb, concurring as to the
action against the companies, adds
that in his belief, the Waters-Pierce
Oil company should be fined 81 100000
instead of $4,000. Judge Graves, in
his opinion, thinks that the Waters
Pierce company should not be dis
solved. He said that the evidence
showed that H. Clay Pierce, who
owns 40 per cent. of the capital stock
of the company, did all in his power
to prevent its going into the trust
and then lost his position as presi-
dent of the company on that account
The minority stockholders, Judge
Graves says, could not help them
selves, and they should be protected
While Judge Graves urged greater
punishment for the Standard Oil COM
pany of Indiana and the Republic
Oil company of Ohio, yet it was due
to his influence that the Waters
Pierce Oil company was not abso.
lutely ousted from Missouri.
The opinion of Judge Woodson
which was concurred in by the other
Judges, states that the records show
that the Standard On company was
: guilty of unlawful means in the for.
nation of trust to control the out
put of oil and the prices at which
it is sold to dealers. Individual in
vestors have been blighted by TIL.
power Of the trust and small in
dependent refners and others hav,
been forced to enter the service O
the company as hewers of wood ant
drawers Of water
In concluding his report, which GOV
cred 400 typewriter pages, Judg'
Woodson says that the action in Civ
ing the Waters-Pierce Oil compan,
time i'll which to server its connec
, ton with the trust is taken to pro
), tect the minority stockholders. Th
evidence, he says, 'discloses that til
majority interest in the company wa
: owned by the New Jersey corpora
tion and that these interests displace
H. Clay Pierce as president Of tn
, Waters-Pierce Oil company becaus
O of his persistent effort to conduct til
i affairs of the company independent @
the Standard Oil company of Ne,
Jersey and the Standard Oil com
e pany of Indiana. The punishment
he says, should be severe to meet TIL