The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1908-12-23
Barring Indiana Company and
Republic From State.
EACH FINED $4,000.
Order Issued DiSSOIVing the
Waters Pierce Company
Effective Jan. Is Unless 1t Be-
comes Independent.

Jefferson City, Mo, Dec 23.-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, forbidding them ever again
to do business in Missouri and dissolv-
ing the Waters-Pierce Oil company
of st. Louis.
In addition each of the companies
is fined $4,000. The order dissolving
the Waters-Pierce Oil company will
become effective January Is, unless
the company on or before that date
furnishes to the supreme court salts
factory evidence that it intends to op-
crate as an independent concern.
The court finds that the companies
conspired:
One-To regulate and fix prices to
retail dealers.
Two-To control and limit the trade
in the refined products of petroleum.
Three-To control and limit and
prevent competition in the buying and
selling of these products
Four-To deceive and misIead the
public into the belief that they were
separate and distinct corporations pur-
suing Independently their business as
legitimate competitors. The suit to
oust the three companies was insti-
tuted by Attorney General Hadley in
1905 and the evidence taken by a
special commissioner in st. Louis and
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 concurring opinions.
Should Be Fined a Million
Judge Lamb concurring as to the
action against the Standard and Re
public companies, adds that in his be-
life the Waters-Pierce Oil company
should be fined $1,000,000 instead of
$5OOOO Judge Graves in his opinion
thinks the Waters-Pierce company
should not be dissolved. 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
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 geater
punishment for the Standard Of In
diana and the Republic of Ohio, yet it
was due to his influence that the
Waters-Pierce Oil company was not
absolutely ousted from Missouri.
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 trust to control the
output of oil and the prices at which
it is sold to dealers.
Individual investments have been
blighted by the power of the trust and
small Independent refiners and others
have been forced to enter the service
of the company as hewers of wood and
drawers of water.
In concluding his report, which
covers 400 typewriter pages, Judge
Woodson says that the action in giYing
the Waters Pierce Oil company time
in which to sever it's connections with
the trust is taken to protect the
minority stockholders. The evidence,
he SAYS, discloseS that the majority in
terests in the company were owned
by the New Jersey company and that
these interests displaced H. Clay
Pierce, the president of the Waters
Pierce company because of his per-
sistent effort to conduct the affairs of
the company independent of the
Standard of New Jersey and the
Standard 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.