Union County courier. [volume] (Elk Point, Union County, D.T. [S.D.]) 187?-1913, 1909-11-25

Ing. buying. refining, transporting and
selling petroleum and its products and
they were conducting about 80 per
cent. Of the production of the crude
oil and more than rs per cent. of the
business Of purchasing, refining, trans
porting 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
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.
one of the 10 companies in which the
individual defendants were principal
stockholders, and had thereby sup
pressed competition among these cor
porations 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 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
tons.
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 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 &C.
CURED the legal title to a 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 1t has pre-
vented and is still preventing competi-
ton In commerce among the states
nuu Will lOISi6u HdllOuS duOH6 luCS0
Branded "conspiracy."
Held, the transaction constituted
l combination and conspiracy in re-
straint of and to monopolize commerce
among the states and with foreign ma
ions In violation of sections l an0 :
If the antitrust act of July 2, 1890,
and the government is entitled to an
Injunction against the further continu-
ance and operation thereof"
y The decree enjoins the seven indi
Vidual defendants, the Standard Oil
Company and it's subsidiary corpora
lions. 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 Ia petroleum or
It's products. or to prolong the unlaw-
full monopoly of such commerce OBJ
tanned by the defendants as stated in
the decree. and they are forbidden
from engaging or continuing in inter-
state commerce until they discontinue
their Illegal combination. The decree
takes effect 30 days from the date OF
its filing unless suspended by an ap-
peal to the supreme court.