Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1909-11-23
.Archbo|d Expects Repeal
Of Sherman Law.
Standards Lawyers Are Setting
Busy to Prepare Appeal.
Gary Doesn't Think Decision Will
Affect U. 5. Steel Corporation.

New York, Nov. 22.-Conferences of
officials of and leading counsel for the
Standard Oil Co. We're held in this city
today to begin the work Of outlining
the company's course of action fol-
lowing the adverse decision in the
governments suit against the COM
pany rendered Saturday.
Thirty days are allowed before the
decree of the court takes effect, and
within that time the form of the an
peal which the corporation has an
noullced that it will take to the Unit
ed States supreme court will have to
be perfected.
The volllminous opinion and decree
OF the United States circuit court are
yet to be dgested by the attorneys for
tie corporation. Early beginning of
this process was considered essential;
hence the prompt summoning of the
legal forces at the command of the
Standard Oil to essay the task.
In speaking of the decision today,
John d. Archbold, vice president of
the Standard Oil Co, took an optimistic
view of the situation. He said:
Il believe that the decision will re-
suit in legislation locking toward the
repeal of the Sherman antitrust act.
For under that law it is not only i'm
possible for practically every corpora
ton to transact business but even CO.
partnerships may be attacked. I be-
iieve that the officials at Washington
are coming to the view that the law
is too drastic and that even Mr.. Roose-
welt himself shares in that opinion"
Standard Oil stock was again affect
ed on the curb market today by the
federal courts decision. The stock
closed at 600 Saturday and the first
sale today was $50, q decline of 40
points.
Early prices on the Stock Exchange
showed declines of nearly a point in
some issues, but there was support de-
tacted and prices rallied.
Albert H. Gary, chairman of the
United States Steel Corporation,
speaking today as to what effect tho
decision in the Standard Oil case would
poration, said:
Il do not think that the Standard Oil
decision will have any effect whatever
upon the United States Steel Corpor-
alton. l have several good reasons for
believing this but 1 do not care to ex-
press them at the present"
The probab ility of other corporations
being affected in the event of the Stand
ard Oil decision being upheld by the Unit
ed States supreme court, was discussed
today by John w. Griggs, who was at
torney general of the United States I'M
der Mckinley from 1898 to 1901.
II should say he said, that the de-
csion would affect in principle large
number of the smaller corporations, ir-
respective of the fact of their having con-
Quoted their business in an offensive or
an inoffensive manner, and without re-
gard to whether as combinations they
have on the whole been beneficial to the
DEVELOPMENT of the country or prejudicial.
I regard the decision as only another
illustration of the inherent deficiencies Of
the Sherman act, in regulation of bust
ness. / think that the business men of
the United States are entitled to more
clear and explicit statement of the rule
of conduct which Congress means them
to conform to than that which Is ex-
pressed in the present law. I hope that
the efforts of the President and Of his
attorney general to evolve a better bill
will be sustained by public sentiment
and approved by Congress"
St Paul, Nov 22-When Frank B. KEEL
loGg, prosecutor for the government In
the Standard Oil case was today shown q
statement attributed to Mortimer F. Ell
lott, general counsel for the Standard
c il Co., to the effect that the decree Of the
United States court did not order dis
solution of the Standard Oil Co., he said:
1.-The decree enjoins the Standard Oh
Co. from continuing the combination
control of it's subsidiary companies and
the effect of the decree is that it dissolves
the Standard Oil Co."
Mr.. Kellogg added that he does not be-
lieve Mr. Elliott had read the decree full
ly when he made the statement attribut-
ed to him.
~@MnEMeEn 1sonA-~uEa