New-York tribune., 1909-11-22
TO PREPARE APPEAL
STANDARD OIL con-
FERENCE TO-DAY.
Counsel Says Case VIII Be
Taken Immediately to
Supreme Court.

Aihttlll sun. was on MS way 10
this city from Chicago yesterday. and
SO We're the presidents of the greater
subsidiary companies. all called to a
council To prepare for the appeal 70 the
United States Supreme Court from the
adverse decision handed down on satur-
day Mortimer F. Elliott, general coun-
sci OF the company. said yesterday:
have seen what purports TO be the
text OF the decree handed down by the
United States Circuit Court The COM
pany will take an appeal Immediately TO
the United States Supreme Court, and
VIII cheerfully abide by the verdict of
the highest court in the land, whatever
that NAV be-
argument in this case began last
April, and We are glad TO have reached
an opinion l do not mean that We are
pleased with the opinion itself. but that
we are glad to get it. whatever its nat
ure.
The decree does not order = dissolu-
ton of the Standard Oil Company: that
Is Misunderstanding. What the decree
orders. as I now understand it, is that
the company shall distribute among its
stockholders. Of whom there are approx
mately five thousand. its holdings in the
stock of subsidiary companies. This
distribution, ! further understand. is or
dered 10 be effected on A pro rata basis
Of apportiOnment. That is 10 say. the
heaviest holders Of Standard Oil stock
would receive a proportional number OF
shares in the stock Of subsidiary COM
panies."
WOULD SEE OPINION FIRST.
When asked what course the company
would adopt II the verdict Of the lower
court should be upheld in the higher
court. Mr.. Elliott said:
That is something I shall he better
prepared 10 discuss when I have seen
the opinion by which the United States
Circuit Court justifes its decree"
John .. Archbold. who Is the active
head OF the Standard Oil Company will
be at the helm, il was said yesterday. in
the council which viii decide on the sd-
vice Of counsel what course shall be pur-
sued There had been tentative ar
rangements for an appeal. presuppos-
ing that the decision would be adverse.
but the preparation Of papers will con-
sumo much time. as there was no way
Of knowing what the main features OF
the decision would be. The council will
be held At No. 26 Broadway.
Mr. Elliott, Mr.. Rosenthal and John
c. MiIburn will be the lawyers who will
prepare the appeal. Pending the ap-
peal there will be a stay in carrying
variety Of opinions yesterday regarding
the findings of the court, all the way
from one that believed it to be a the
oretical victory TO another that declared
that il was more sweeping than any
that had ever been handed down against
a trust.
Henry WOolman. representing the At
torney General Of Missouri in the suit
OF that state against the company. gave
the opinion that the decision was only
a theoretical victory. He did not be-
lieve that il would have any practical
effect. Mr.. Elliotts view Is much the
same.
THINKS DECISION FARREACHING.
But a prominent lawyer of this city
who has had much 10 do with corpora
tiOn litigation. said yesterday.
The decision Of the United States Cir
cult Court goes further than any here
tofore handed down III a suit for the dis
solution OF a trust. II all depends upon
the attitude Of the government. II can
use this decision for the purpose of
checking any cOmDina ton in the process
of formation. like the copper cOmbina-
ton or the telephone and telegraph mer-
ser. Instead OF permitting any new COM
binatiOns 10 be formed the government
has il in its power To put an effectuaI
stop To them before the stock has been
distributed and all the complications of
a dissolution. brought about by an ex-
pensive suit. are necessary. AS I have
said, it is up 10 the government"
II was said last winter when the suit
was in progress that the Standard Oil
Company had a plan matured for the
reorganization Of the corporation if the
decision should be adverse The court.
a lawyer said yesterday. seemed to have
taken that fact into consideration when
il prepared its finding After decIar-
ing that the New Jersey company is
enjOined from voting any Of the stock
in any of the defendant companies. the
decision says that the seven individual
defendants and the corporations and
partnerships that became parties 70 th.
combination shall not enter into or form
any combination the effect OF which
may be 10 continue the monopoly. A
trusteeship is forbidden. and so is any
arrangement that may have for its OBJ
ject a continuation OF a unity of interest
that may result in the control Of the
management of the business. the control
OF prices or terms Of sale or purchase,
transportation OF manufacture
The lawyer quoted above said that
this meant a check 10 any plan that
might be devised II that plan had for
its object the preservation OF the COM
Inunity Of interest among the many
units OF the great combination. He said
further relative 10 other combinations,
that all the government had 10 do was
20 apply for an injunction, and il this
were granted IL would check the fOrma-
tion OF any business i'm the nature OF a
trust that might be in violation OF the
Sherman act.
IL was reported yesterday that Frank
r. Kellogg. OF Minneapolis. who had
charge OF the case for the government