Willmar tribune., 1909-12-01

tions it is illegal within the meaning
Of that statute.
"The power to restrict competition
In commerce among the several states
or with foreign nations vested in a
person or an association of persons by
combination is indicative Of the char.
acter OF the combination, because it is
to the interests of parties that such
power should be exercised and the
presumtton is that it will be.
Many Firms Knit Together.
THE combination in a single cor
poration or person by an exchange of
stock OF the power of many stockhold.
ers holding the same proportions re.
specttvely Of the majority Of the stock
of each Of several corporations engag.
ed in commerce in the same article
among the states, or with foreign ma.
tions, to restrict competition therein,
renders the power thus vested in tho
former greater. more easily exercised,
more durable and more effective than
that previously held by the stockhold.
ers, and it Is illegal.
Standard Oil Company of New Jersey
owned a majority of the stock of 10
other corporations in the same proper.
tions that they owned the stock of tho
Standard Company and those 20 cor.
porattons controlled by the ownership
of the majority of their stock, or other.
| wise many other corporations. Each
Of these corprations was engaged in
some part OF the business Of produc.
ing, buying, refining, transporting and
selling petroleum and its products and
they were conducting about 30 per
cent. of the production Of the crude
oil and more than Is per cent. Of the
business of purchasing, refining, trans.
porting and selling petroleum and it's
products in this country. Many Of
them were engaged in commerce in
these articles, among the several
states and with foreign nations, and
were naturally competitive.
Competitors Disappeared.
During the 10 years prior to 1879
the seven individual defendants had
acquired control of many corporations.
partnerships and refineries that had
been competing in this business, had
placed the majority Of the stock Of
those corporations and the interests in
property and business thus obtained In
various trustees to be held and oper-
ated by them for the stockholders of
the Standard Oil Company, Of Ohio,
| Ono rf thu 10 rov,o non3oc T., x,,h}oh <h<
individual defendants were principal
stockholders. and had thereby sup
pressed competition among these cor.
porattons 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
five trustees to be held, operated and
distributed by them for the stockhold-
ers Of the Standard Company Of Ohio.
From 1879 until 1892 they prevented
these corporations and others engaged
in this business, where they secured
control. from competing in this COM
merce 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 com.
pany, of Ohio. and from 1892 until 1899
they accomplished the same result by
similar stockholding device and by
,, the joint equitable ownership of the
majority Of the stocks Of the corpora
tions.
All Merged in 1899.
I'm the year 1899 the seven individ-
ual defendants and their associates
caused the majority of the stock of
the 19 corporations to DO transferred
to the Standard OIL Company Of New
that the latter company thereby &C.
quired the legal title to majority of
the stock Of each Of the 10 companies,
the control Of these companies and Of
all the companies which they con.
trolled and the power to fix the rates
of transportation, the purchase and
selling prices Of petroleum and its
products, which all these corporations
should pay and receive in the conduct
Of their business in commerce among
the states and with foreign nations.
Since that exchange of stock the
seven individual defendants have been
and are stockholders and officers Of
the Standard Company Of New Jersey.
which has exercised and is still using
that power, and by it's use it has pre-
vented and is still preventing competi.
tion in commerce among the states
and with foreign nations among these
corporations.
Branded "conspiraey."
Held, the transaction constituted
combination and conspiracy in re.
straint Of and to monopolize commerce
among the states and with foreign ma.
tions in violation Of sections l ano !:
of the antitrust act of July 2, 1890,
and the government is entitled to an
injunction against the further continu.
| ance and operation thereof"
The decree enjoins the seven indi.
vidual defendants, the Standard Oil
Company and its subsidiary corpora
tions. from continuing or carrying in.
to effect the illegal combination they
have formed and from entering into
any like combination or conspiracy
the effect Of which will be to restrain
interstate commerce In petroleum or
its products, or to prolong the unlaw.
ful monopoly OF such commerce OBJ.
tained by the defendants as stated Ia
the decree, and they are forbidden
from engaging or continuing in inter.
state commerce until they discontinue
1 Il