The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-11-22

bold said that a conference would be
held during the day between officials
of tie company and their legal advisers
70 determine what steps should be taken
as the result OF the decision He said
NJ. t. Elliott, general counsel for the
company would probably issue q state
ment later in the day defining the com
panE s position.
we have got to do business" said
Archbold, and the quicker our rights
are defined by the Supreme Court of the
United states, the better. We simply
want to ind out as soon as possible
just what our rights and privileges may
Want Law Amended.
ArchboId added that he thought that
the decision would tend to hasten the
amendment of the present Sherman
antitrust law.
The sherman law" said Archbold,
''is generally regarded by all business
men as bad law. 1 think the Of
heials at Washington have now come
10 the same conclusion.
Even Mr.. Roosevelt was convinced
that the act was a peTnlcious one. II
carried out TO the letter. The decision
form the basis for the dissolution of not
only the principal industrial corpora
tions of the country, but would even
also restrain business by co-partner-
ship"
Combinations Safe.
Il was evident from Archbold's man
ner that ne is of the opinion that the
questions raised by the decision will re-
suit in a general Overhauling Of the
Sherman antitrust law so as to permit
the continuance of combinations IN bust
ness under less stringent conditions than
are contained in the present law.
He concluded by saying that the
Standard OIL Company was anxious 70
ascertain at the earliest possible mo-
ment Just what sort OF business
methods II would be permitted to use,
and TO arrange its affairs IN compliance
with such rules as may be laid down
by the Supreme Court
No Effect on Steel.
Ex-Judge E. H. Gary, chairman Of
the United States Steel Corporation,
said today that the decision in favor
Of the Government will have no effect
on the big steel corporation.
Il do not think said Gary, that
the decision VIII AFFECT the steel cor
poration at s6- I have several good
reasons for believing this, but I do not
care TO express them at present
Gary denied the report that the
United States Steel Corporation IS ne
gotiating Ter the purchase OF the PITTS
burg Coal Company.
Followed by Rally.
Then came the rally It started after
an hours trading and slump, and 1t
was moderately effective in its recovery.
It is generally admitted that there
are too many deals and schemes being
worked out to permit Of any very seri-
Gus break in the list
Then. too, the general public has not
been ia the market for months. and the
tightness of the money market has kept
room traders and margin spectators
from extending their operations. leaving
the stock holdings largely centered n
the big financial interests, that did not
lose their heads. Many Wall Street
houses have kept their customers out
OF the market, pending the development
OF sentiment in Congress over the Tegu-
lation OF corporations
About half OF the losses, other than 10
Standard oil shares. was recovered.
The advance met with some liqulda'
ton, and the market eased on again
but only fractionally, the scared opera
tors having relieved their feelings by
getting out.