Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1908-12-24

The refined products Of petroleum sold
and offered for sale in this state.
Second, 10 control and limit the
trade in refined products of petroleum
IN this state
Third, to control, limit and pre-
vent competition in the business of
buying and selling refined products or
petroleum IN this state between them
selves and others engaged In like busI-
ness.
Fourth. to mislead the public into
the belief that they We're separate and
distinct corporations and pursuing an
Independent business as iegiumot"
competitors in the purchase and sale
of the products of petroleum.
In explaining how these wrongful
acts We're consummatcd the decision
says:
Prices for the products Of pctro-
1cum, especially refined oil, ilHmiuat-
ing oil and gasoline are fixed by the
Waters-Picrce company. 1t sends out
to the trade quotations giving tank,
wagon and barrel prices. As "A rule,
those prices are followed by all other
companies, including the independent
companies. doing business In this state.
As long as the independent companies
do not produce prices or increase the
amount of their sales above
10 to 2 per cent OF the entire amount
of the sales made in the state, there
Is no war made upon them regarding
prices But whenever any ndepcud-
ent company reduces prices below
those fixed by Waters Pierce or when
ever their aggregate sales exceed Gf-
teen per cent Of all sales made i'm tht|
state the vigorous warfare is Wuged
against them. chiefly through the RE-
public company, by means Of an elah-
crate system of espionage in their
business and by cutting prices or Civ
ing rebates until the independents are
glad TO throw up their hands and say
enough and be coutentcd to sell oil az
the prices ana In the quantities pre-
scribed by the Waters Pierce company
and acquisced in by the Indiana ana
Republic companies from So to g5
per cent of the entire oil business of
the state.
The common interest running
through all these companies is respOn-
siblc for their formation and business
schemes and policies and lead up to
and induce the Standard interest, in !
Guiding the respondents to divide the |
state in twain. to furnish oil and trans |
portation for each other, to decline to |
sell to, or 10 transport oils for the in |
dependents and to tight them with the
Republic company by a system OFT
espionage and rebates.
THE direct effect OF those rates
Il Is
% create by indirection, n pool trust
md combination in restraint Of trade
md to fix and maintain prices at which
sold the products of pc
roleum in this state"
Hh,tory of the Case.
Tho states custer suit against the
Republic and WatcrsPierce
'opfponies was instituted almost four
,earg ago The evidence was taht
II St Louis and in New YORK where
/ H. Rogers, the principal witness,
vas compelled to tstify before spe-
ill commission.
At the same time Jonn p. Rookie
cllor was compelled to remain In New
Jersey to avoid Hadley's subpoena
;ervers, it being Hadlcy's wish to place
he aged oil king on the witness stand
The evidence has been before the
tat" supreme court for year. OW-
ng to its coal and mining importance,
I was considered by the entire court ,
,ll seven Judges concur in the opin- J
on, which was written by Judge /
VOodson.
That the decision as to the Waters
fierce company represents COM ,
romse is shown by separate concur
ing opinions filed by Judges Lnmm /
nd Graves, Judge I.amm holding that
he Watcrs-Pierco company should be j
ned $l.000.O00 instead OF $4,000. $
Judge Graves opinion is that the :
yaters- Pierce company should not be %
eprivcd of its corporate franchise. He i
.kos this ground 10 protect the minor G
y stockholders d