Daily capital journal. (Salem, Oregon) 1903-1919, 1910-03-15
Supreme Courts Action lndi-
Gates 1t Will Go Thoroughly
Into the Matter of Trust Or
ganization.
STANDARD OIL SoULLESS
Kellogg said: 81 Shall Tell Some
Dry Facts About the History of
the Standard. That Are Not the
Short and Simple Annals of the
POoI-Standard Pleads Plant
EuN1rnD PRESS lzAsnD wIRn.l

Washington, March 15.-rhat the
decision of the supreme court of the
United States hearing the argument
in the appeal from the circuit court
decision dissolving the Standard Oil
Company of New Jersey, will decide
whether holding companies" are le-
gal under the Sherman law was indi-
Gated by the questions asked by at
torneys for the government today.
Under the decision of the circuit
court, which ordered the Standard OF
New Jersey to return its stock hold
ings in the subsidiary companies to
the stockholders of the company, the
form of organization employed by the
Standard was declared a monopoly.
The holding company, by this deei-
sion, was specifically referred to, and
was declared the basis of the combi-
nation declared illegal.
When the attorneys today reached
that part of the argument describing
the organization OF the Standard the
justices frequently interrupted the
questions, asking more specifically
about the various stock manipula-
tions by which the government attor-
neys declared the Standard of New
Jersey acquired control of the various
companies held by the circuit court
to have been parties to the monopoly.
Since the holding company is the
form under which a greater alleged
trust operates, attorneys for the
argument, and the questions OF the
justices, declare the decision will
have an important bearing on the
status of the antitrust crusade. AL
though the holding company was de-
clared illegal by the circuit court, a
number of mergers have been con-
summated since in which holding
companies have played the leading
parts. Corporation attorneys have
declared that the decision on this
particular point will not hold in 9TH
er instances, and the decision of the
supreme court, lawyers say, viii set
tie a question of great Importance to
the big business enterprises.
In their questions the justices of
the supreme court asked about the
organization Of the Standard from
the time the Standard Oil Company
of Ohio was dissolved to the time
of the completion of the present or
ganization. The part played by stock
exchanges and the issuance of "liqui-
dating certificates" which were ex-
changed for stock in the present hold
ing company, the government alleges,
MAS the subject of many of the ques-
tions asked from the bench. From
tnese questions. attorneys here be-
lieve that the decision will go into
this phase Of trust organization very
fully.
Trust Buster" Frank B. Kellogg
began his argument for the govern
ment late today. John G.. Milburn,
Of counsel for the Standard. complet-
ed his defense OF the Standards
methods. and Kellogg assailed the
argument ironically.
~ 'sh.lll tell some dry facts about
the history Of the Standard, he said
III Is not the short and simple annals
OF the poor. This is the second time
I have heard the plaintiye plea OF the
counsel for the defense asking the
courts not 10 stop the commerce Of
the United States"
keiicrg then referred TO the opera