Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1908-06-27
SUPREME COURT DEF|ED

The Beef Trust dcfies the Supreme
Court Of the United States every day
Of its existence.
1t def1es 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, TINT
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.
ence as a combination In restraint Of
trade and commerce.
It continues to tx and to maintain
throughout the country uniform and
exorbitant price for meat In defiance
Of the mandate Of the highest court
in the land.
The temporary injunction issued by
Judge Peter 3. Grosscup May 20. 1907,
against the Beef Trust was made per.
manent by the United States Supreme
Court In decision announced Janu-
airy 30, 1905. The decision establishes
these points:
Traffic in live stock transported from
State to State Is interstate commerce
and 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 Is IN unlawful re-
straint of trade.
The combination between dealers to
fix and maintain uniform price In
the sale Of meat throughout the cOun.
try Is an unlawful restraint Of trade
The combination of dealers to Oh.
tain preferential railroad rates, In an
unlawful restraint Of trade.
All combinations suppressing cOmpc-
tition between independent dealers fall
under the prohibition of the Sherman
Antitrust Act.
Tue most awful thing in the history
Of this Republic from Its foundation
to the present time. 10 the open. ia.
grant defiance by the Beef Trust Of
the permanent injunction granted
against 1t by the Supreme Court Of the
United States. II the Supreme Court
can be nouted by multi-millionair
law-breakers. what has become Of our
Government?
A stringent State law Is 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 to 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 institu.
tlons.
This nefarlOus practice should be
stopped and the only way to stop 1t Is
by municipal legislation.
A provision ought to be made In the
city charter authorizing the city under
Its police power to regulate the estab.
lishment of banks ana creating In
pursuance Of this work board for
the examination Of all proposed new
banking concerns. Such q board
should be given ample power 70 exam.
Inc into the financial standing of the
promoters OF these institutions, and
none should be allowed to be licensed
unless such as 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 az to the
right and the justice Of the city to