The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-06-18
Bills Found by Grand Jury
Against Eight Cotton Com
bine ManipulatOrS.
SHERMAN ANTITRUST LAW
INVOKED BY GOVERNMENT
Alleged ConspiratOrs Handled
Thirty Million Dollars Worth
of Cotton in Operations.

NEW YORK, June 17.-Thc govern
ment came out in the open today in its
attempt to prove that manipulating the
cotton market is against the law James
A. Patten Of Chicago and seven lesser
figures In the speculative field have been
indicted. charged with conspiracy In re-
straint OF trade under the Sherman anti
trust law. The Indictment was returned
by special grand Jury late today and
handed up before Judge Housh In the
United States circuit court. Five OF those
indictcd-Pattcn, Eugene E Scales.
Frank b. Haync, Wiliia"l p, Brown and
NJ. IL. Rothschild-Gavc pail of $4,000
through counsel. For the other thiec.
who were neither present nor represented
by lawyers bench warrants were issued.
They are Sidney j. Harmon, Robert M
Thompson and Charles A. kitue.
When the indictments were announced
there was an excited break on the New
York cotton exchange. The bull leaders,
however. appeared undisturbed by the
governments action and by their buying
orders helped TO rally prices during the
last few minutes.
On Five Counts.
Five counts are embraced in the in
dictment. which is in blanket form and
contains 10 900 words The first count
charges that "the defendants unlawfully
did conspire with certain corporations not
herein indicted TO demand arbitrary, eX-
ccssive and monopolistic prices for cot
ton"
Scores OF cotton mills In Alabama, Geor
gia and the Carolinas are named as CO.
conspiratorS. though not included In the
indictment,
Describing the alleged conspiracy. the
indictment says that the conspirators
were to become members Of an unlawful
combination under which they were sew
orally TO purchase FOR shipment from the
south to New York all cotton not directly
absorbed by the foreign and domestic
spinners and manufacturers in the ordi-
nary course OF business: in other words.
as much as they could buy from day TO
day without seriously enhancing the
price, but nevertheless 10 such an extent
that before the end OF the crop year they
would have so much cotton in their pos
session in the city OF New York they could
demand monopolisuc prices.
Agreement With Spinners.
There is appended 10 the Indictment
what purports TO be agreement be
tween Browne and Bayne. as parties OF
the first part, and certain spnners as
parties of the second part, through the
medium OF which. IL is alleged. cotton
was illegally corncred.
Patterns name does not figure in the
contract at all, although he was popularly
credited with being the chief leader in
the bull movement, II is estimated that
the bull leaders during their campaign
handled nearly 100000 bales OF cotton.
representing a value OF approximately
Arthur s Marsh president Of the New
York cotton exchange, issued statement
tonight in which he said he had received
communication from the United states
attorney general saying the proceedings
were directed merely to prevent corners
and were not aimed at regular transact
| tons on the cotton exchange.
James a. Patten. who is indicted, has
been known for years d corn and
| wheat speculator and more lattery M
the cotton king