The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1910-03-16
OIL C0MPAAY'S APPEAL.
ORDERED By L.. S.
CIRCUIT COURT.
Federal Supreme Court VIII Hear
Arguments. Grave Findings Against
Money Kings Announced by Circuit
Court-Business World AnxiOusly
Await Outcome of Suit.

Oil" has ever faced will confront it
today.
This is the day set by the Supreme
Court of the United States to hear
arguments on the appeal of the STAN
dard oil Company. of New Jersey from
the adverse judgment of the United
States Circuit Court for the Eastern
district of Missouri, which order the
dissolution of the New Jersey corpor-
alton as an illegal combination ana
monopoly in restraint of Inter State
commerce. To point out the alleged
errors of the Circuit Court in it's fini-
ings and in it's decree, the keenest
intellects within command have been
procured. To argue for the affirm
ance of the decision of the lower court
Mr.. Wickersham, the Attorney Gen
eral of the United States, himself will
head a brilliant array of counsel for
the Government.
The Circuit Court announced grave
findings against the seven individual
defendants. John d. Rockefeller, Will
liam Rockefeller, Henry M. Flagler,
Henry III. Rogers, John d. Archbold.
oliver III. Payne. and Charles NJ.
Pratt. the Standard Oil Company, of
New Jersey, and other defendant COM
panies.
The court found that in 1899, by
an exchange of stock by the seven in
dividuals. the Standard Oil Company.
Of New Jersey. acquired the legal title
to a majority of the stock of nineteen
companies. which in turn controlled
large number of others all but one,
engaged in the oil business.
What Is found as to this combina-
ton was this:
That since 1899 the affairs of all
these companies have been managed
by the prircinal company -es the trsi-
ness of single person. so as to fix for
them the price of crude oil, the rates
for transportation and the selling
prices OF its products.
That the par value of the combined
capital stock in 1899 was about $780,
100000. and that in 1903 it was $780,
100000.
That twelve of these compaies own
ed 54,565 miles of pipe lines.
That six Of thes companies had 3d.
574 selling stations throughout the
United States.
That these companies from 1899 to
1907 produced more than one tenth
of the crude oil obtained in this coun-
try.
That they owned and operated more
than one-half of all the tank cars
used to distribute it's products.
That they manufactured more than
three-fourths Cf all the crude oil re-
fined in the United states.
That they transported more than
four-ffths of the petroleum derived
from the Pennsylvania and Indiana
oil fields
That they marketed more than
four-ffths of all the illuminating oil
sent forth from the United States.
That they exported more than four
hfths Of all the Illuminating oil sent
forth from the United States.
That they sold more than four
ffths of all the naphtha sold in the
United States.
That they sold more than ninc-
tenths Of all the lubricating oil sold
to railroad companies in the United
States.
on this finding the court decreed:
That the orgo onization of 1890 was a
combination or conspiracy in restrain.
of Interstate commerce in petroleum
and its products such as the first sec
tion of the Sherman Antitrust .,ct
declares is illegal; that the seven in
dividual defendants. the Standard Oil,
Company, Of New Jersey, and 80 9th.
or companies had entered into a COM
bination or conspiracy to monopO-
lize and had in fact monopolizcd
substantial part Of Interstate com
merce In violation of the second sec
tion Of the Sherman Antitrust Act;
that 33 other comapnies accused were
proven not to be in this combination.
The court enjoined the principal
company and its directors from eXer-
cising any control over the subsidiary
companies; it enjoined the subsidiary
companies from declaring or paying
any dividends to the principal COM
pany but not from distributing rat
ably to tho shareholders of the prin-
cipal company the stock of the SUBJ
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