The citizen-Republican. (Scotland, Bon Homme County, S.D.) 1???-19??, 1909-11-25
statea or with foreign nations. It Ii NJ
legal within the meaning OF that

states 81 with foreign nations, ii IL n
legal within the meaning Of that
statute.
It's Character indicated.
1.-THE power to restrict competition In
commerce among the several states or,
with foreign nations, vested In a# per-
combination, Is Indicative Of the char
acter of the combination because 1T Ii
to the interest OF the parties that such
a power should be exercised and the
presumption is that it will be.
The combination In q single corpora
ton or person, by GIN exchange Of
stock, Of h power of many stockhold-
ers, holding the same proportions, re-
s~pectively, OF the majority OF the stock
Of each OF thes several corporations
gagged In commerce in the same articles
among h states. or with foreign ma
lions. to restrict competition therein,
renders the power thus vested in the
former greater, more easily exercised.
more durable and more effective than
that previously held by the stockholders
and 1t is Illegal.
History Of Concern.
In 1889 the stockholders OF the Stand
ard Oil company, OF New Jersey, owned
9 majority of the stock of 10 other cor
porations In the same proportions that.
n owned stock Of the Standard COM.
pany and those 20 corporations COM
trolled. by the ownership Of the major
ity OF their stock or otherwise, many
other corporations.
Each Of these corporations was en-
3 IN some part of the business OF
producing. buying. refining, transports
ing n selling petroleum and It's pro-,
ducts, and they were conducting about,
80 per cent OF the production OF the
crude OIL and more than Is per cent OF.
the business of purchasing, refining,
transporting and selling petroleum and
ITS products in this country.
Many of them were engaged in,
commerce In these articles among the
several states and with foreign nations.
and We're naturally competitive
How Trust Was Formed.
During the 10 year prior to 1879
the seven individual defendants had
acquired control of many corporations.
been competing in this business, had
placed the majority OF the stock or
those corporations and the interests in
property in business thus obtained In
various transfers to be held and oper-
ated by them for the stockholders OF
the Standard Oil company, of Ohio, n
OF 10 companies in which the indi-
vidual defendants were principal stock
holders. and having thereby suppressed
competltlon among these corporations
and partnerships.
In 1879, they and their associates
caused all the trustees to convey their.
interests in the stock, property and,
business of all these corporations to
hye trustees, to be held, operated and
distributed by them for the stockholm
ers Of the Standard OIL Company Of
Ohio.
From 1879 to 1892 they prevented
these corporations and others engaged
IN this business. of which they had Sc
l ~ IVA 0rHfr fro~. ~, f.Ex ~
commerce by causing the control of
their operations and generally, Of a
majority OF their stocks to be
held in trust for the stockholders Of
the Standard Oil Company of Ohio,
and from 1892 until 1899, they accom-
plished the same result by a similar
stockholding device and by the joint
equitable ownership of the majority of
the stock of the corporations.
In the year 1899 the seven Individual
defendants and their associates caused
the majority of the stock of the 10
corporations to be transferred to the
Standard Oil Company of New Jersey
in exchange for it's stock, SO that the
latter company thereby acquired the
legal title to a majority Of the stock
of each of the 10 companies, the control
of these companies and of all the COM
panies which they controlled M the
power to fix the rates of transportation,
the purchase and selling price of petro-
1 ieuIII dIlu lis DIOuuClS WHICH ill lIltSo
corporations should pay and receive in
the conduct of their business in COM
merce among the states and with for
eign nations.
Since that exchange of stock the
seven individual defendants Ia been
and are stockholders and officers of the
Standard company, of New Jersey,
which has exercised, and is still using
thai power, and by Its use 1t has pre-
vented, and is still preventing, compe-
rition in among the states
and with foreign nations amon the
corporations.
Conspiracy Is Proven.
HELD:
THE transaction constituted a com
bination n conspiracy in restraint of,
and TO m~onopolize among the
states and with foreign nations in y1o-
lation of sections 1 and 2 of the anti
trust act of July 2, $780,, and the gov
eminent is entitled to an injunction
against the farther continuance and
operation thereof"
The decree enjoins the seven indi
vidual defendants, the Standard Oil
company and it's subsidiary corpora
tions, from continuing or carrying into
effect the Illegal combination they have
formed, and from entering into any like
combination or conspiracy the effect Of
which would be to restrain interstate
commerce in petroleum or it's products,
or to prolong the unlawful monopoly of
such commerce obtained by the defend
ants, as stated in the decree, and they
are forbidden from engaging or con-
tinuing iE interstate until
they discontinue their illegal combina-
ton.
The decree takes effect 80 days from
the date Of it's fling. unless suspended
by an appeal to the supreme court.
Thirty-three of the subsidiary corpo-
rations of the Standard Oil company
are excepted from the order of disso-
luton and the bill is dismissed as
against them. There are more than 70
of the subsidiary corporations.
-
WICkERSHAM HIGHLY
GRATIFIED AT RESULT
Leavenworth, Kan, Nov. 20-It is one
Of the most important decisions ever
handed down in his country, declared