The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1909-11-26

this country, and which resulted last
Saturday in the decision of the United
States court of appeals that is a
sweeping affirmation Of every conten-
ton urged by the government in it's
suit for the dissolution Of the Stand
ard Oil Company of New Jersey, 1.-The
greatest trust in the world"
The opinion Of the court, written
by Judge Sanborn, sustains the COLI
tentions of the government in every
point and in full detail. 1t reviews
the origin and history of the Standard
Oil Company, showing the wizard-like
financial operations of the master
minds that conceived and executed
the plans for the organization and
points out plainly the particulars in
which such operations have been in
violation of the law and contrary to
public policy. The court holds that
the combination as formed and operat
ed is conspiracy to strife, or direct
ly and substantially restrict free com
petition in commerce between the
states, and therefore is wholly ana
unQualifiedly in violation of the law
under which the prosecution against
it was instituted.
The Sweeping Decree.
Having found the defendants guilty
of the charges brought by the gov
eminent, the courts decree is sweep
ing order designed to end the abuses
which have so long obtained. The
Standard Oil Company of New Jersey
is enjoined from voting the stock of
any of the companies Of which 1t has
enjoined from paying dividends to the
Standard and from allowing their
stock to be voted by the Standard /;
all partnerships and agreements be-
tween the Standard and other com
panies are ordered cancelled; and that
every act now being performed by the
Standard and it's affiliated companies
that tends to restrict or stif1e free
competition in commerce or to form
monopoly in control of the petro
leum business Of the nation is en-
joined and prohibited. The decree al
so directly and explicitly prohibits the
Standard and it's allies from hereafter
taking any steps, making any plans
or forming any alliances, the effect
of teitherdriectly or Indirectly any or
the things prohibited and declared i'll
legal by the courts findings in the
case at issue.
Free Competition.
The decree declares the ownership
by the Standard Oil Company of New
Jersey Of the stock of all the other
corporations to be illegal, and pro
hibits the exercise of any control over
the various corporations by the prin
cipal company. 1t also prohibits any
of the defendant corporations, or the
individuals, from accomplishing the
same purpose of placing the control
of the same corporations, or any two
or more of them in the hands Of any
trustees, persons, or corporations
from managing or operating them to.
gether or in harmony, or from making
with the other for the purpose of con.
trolling the management of the cor
porations or the prices of petroleum
and its products or the rates of trans.
portation; and it prohibits the de.
PENDANTS from engaging in any inter
state commerce while the combination
continues. This, if sustained, will end
all combinations to control business
and will restore competition through.
out the country, and will protect the
independent manufacturer who is to.
day struggling for living.
Startling Figures.
1t appears in this case that the
Standard Oil is the most gigantic cor
poration in the world. On an original
investment of $69,000,00O, the Stand
ard Oil Company has paid in dividends
since the organization of the Trust
down to and including 1906, $54S,436,.
436.87, and at the end of 1906 had a
surplus Of over 1851 100000 on it's
books. 1t has actually earned on this
investment of $69,000,000 over $1,000.
100000, and during the last few years
has earned over 100 per cent. per
annum. These profits have been made
principally in this country, as the for.
eign companies have made much less
profit than the companies doing bust
ness in America. Some of the Amer
lean companies, like the Standard Oil
IF Of hn rr.iY,.
cipal subsidiary companies a to-
tai capital and investment of $1,000.
600 has earned $10,00O,000 per annum ;
in other words, 1051.6 per cent. and
has surplus of over $24, 100000. The
Combination controls from IS to 81
per cent. of the various branches OF
the petroleum business In the United
States, and practically all Of the lubri
cating-oil business of railways. 1t has
directors in MI the leading railways OF
the country, and it is dominant force
in the country's financial institutions
No Political Significance.
The Standard Oil victory is sup
posed to make Mr.. Kellogg candi
date for the United States Senate
When asked relative to this possible
ity, he declined to be interviewed. 81
have absolutely nothing to say about
that he said, Il am not prosecuting
the Standard Oil case for political eff
feet, but as a lawyer for the Govern
mest."
Judge Sanborn's Op;n;c~
The nature of the case and the char.
acter Of the decision appear from The