The Marion daily mirror. (Marion, Ohio) 1892-1912, 1909-11-23

Big Corporations Anxious as to Scope
Courts Ruline--consenous Of opin.
ion Is That Present Agitation viii
Hasten Amendment to Sherman
Antitrust Law on Line Of Pres-
dent Tafts Expressed Views.
New York, Nov. 23.--"The men be.
bind the big copper merger are whis.
Ting to keep their courage up" was
the comment OF lawyer who is rep
resenting one of the parties to the
proposed combination. The projectors
of the merger declared with apparent
confidence that the negotiations
would not be affected by the circuit
court decision in the Standard Oil
case, but this lawyer expressed doubt
II the deal could be put through now.
The copper people were not the
only ones who were whistling for
courage. There was hardly a big cor
poration but had It's lawyers at work
on this Standard Oil decision. They
wanted opinions right away as to the
scope and the probable effect of the
decision
Few lawyers made any attempt to
belittle the importance of the deci-
sion II sustained. Some of them were
OF the opinion that few OF the big
corporations of the country would be
al IN
ciples laid down in the decision All
seemed confident that the decision
would lead to proper amendment of
the Sherman antitrust law, distin.
gushing reasonable from un-eason.
able restraints of trade, and that
there would be no attempt on the
part of the government to apply the
decision radically.
3, The Standard Oil lawyers and ex.
ecutive officers were in consultation
all day, but they had practically moth.
Ing to say for publication. The pos
sibility Of criminal proceedings in the
event OF the Circuit court decision be.
Ing sustained was undoubtedly one
of the subjects considered at these
conferences. The circuit court de.
cision holds that the seven individual
defendants in the case have been or
are" violating the Sherman law, and
then refers significantly 10 section
of the law as pertinent to the issues
of the case. Section makes il
misdemeanor for any person TO mo
noroliZe or attempt to monopoize or
combine or consrirc with any other
person to monopoliZe any part Of in
terstate or foreign commerce. \ pen.
atty Of not more than $4,000 or i'm.
prisonment for rot more than one
year or both, is provided
John ID. Archbold, vice president OF
the Standard company and its active
head, said he believed the decision
would hasten an amendment to the
Sherman antitrust law. "The Sher.
man law " said he, lis generally re.
garded by business men as bad
law. ! think that the officials at
Washington are now coming 10 the
conclusion that It Is too drastic, and
even Mr.. i.oosevelt himself shares
that opinion"
Mr.. Arcbbold added that the deci.
sion of the circuit court, If carried
out to the letter, would form the ba.
sis for the dissolution of not only the
principal industrial corporations OF
the country. but would also restrain
business by co-partnerships.
Corporation representatives We're
unanimous in expressing the opinion
that the greatest good to be derived
from the decision would be In crys-
talizing public sentiment In favor of
amending the Sherman law
President Taft already has de,
clared that the amendment of the
antitrust law Is one Of the things
that must be taken up by tho coming
session Of congress. He has described
his plan as narrowing Of the scope
Of the law, 90 that 1T shall not In
clude In it's prohibition aud donunH!
alton as a crime anything but con
spiracy or combnatir" or "ortrc'
entered into with actual intent To mo-
nopolize or suppress competition In
interstfte trade"
Among other reports that followed
on tho heels OF the decision was one
that the working alliance" between
the American Telephone and Tele.
graph company and the Western
Union might be abandoned because
of complications. This was denied
Itwas said that the telephone deal
was In no way affected by the deci-
sIon, for the reason that only mi.
nority interest IN the Western Union
had been acquired by the telephone
people.
standard Oil stock declined on tho
curb from sos to $50 on comparative.
yheavy trading. The decision was
reflected, too, IN feverish trading OH
the stock exchange.