The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1910-06-30

In Utah TO good advantage. The mat |
ter Is certainly worth Investigating.
MUCH DEFENDS ON DECISION.
That the decision in the case Of the
Northern Securities company did not
prevent the formation OF like com
panies is apparent. even though there
may be some technical difference in
the plan OF operation. It is also true
that combinations OF the same kind
were formed prior to the advent Of the
Hil-Hsrriman deal.
The same question, or at least one
very similar. is before the supreme
court OF the United States. and upon
the decision finally reached depends
the fate OF something like thirteen
hundred and five holding companies
in this country.
A holding company is a corpora
ton owning or controlling the stocks
Of other companies, the United States
Steel corporation. the Standard OIL
company and the American Tobacco
company being three bright and shin
ing examples.
The standard OIL company and the
American Tobacco company are now
In the supreme court fighting for
their corporate existence. Both cases
were argued some time ago. but owing
20 the fact that the bench was not
full, they have been set for reargu-
ment and will come up again at the
fall term OF the supreme court, which
meets next october.
These thirteen hundred and five
holding companies are divided among
the states as follows:
New Jersey 2s9; New York. 14s;
Maine, IS: New Hampshire, z,
Vermont. s: Massachusetts. %;
Rhode island. o. Connecticut. %.
Pennsylvania. 1866 Delaware. IS;
District OF Columbia =; Mary
land. "a: Virginia, II; West Vir-
ginia, 30: North Carolina. 10;
south Carolina. 3: Georgia, Z:
Florida, p North Dakota, 2;
Montana I. Wyoming. 8. Colo
RADIO, 29s Arizona Z. Washing
ton, "a; California. 80: Alabama,
10. Mississippi; 3; Tennessee. g.;
65ehJ IlSiky; - OHIO; % lndiana,
wisconsin. IS: Minnesota. 5:
Iowa Is: Missouri. s. Arkansas.
:; Louisiana. 3 Texas 1s; In
AAeAAA A-AAAANAL > - OhAaHUNAas -
Kansas. {. Nebraska. (: South
Dakota Il. Utah, Z. Nevada, s.
Idaho. 2; oregon, 8. Total. 1905.
II the decision in the oil and to-
bacco cases is adverse. these holding
companies will be split up into nearly
ten thousand constituent companies.
and the result viii be endless confu-
sion h'not absolute chaos in all lines
OF business.
This explains why all eyes were
turned IN the direction OF Washington
every Monday morning during the
spring term OF court when a decision
was expected in these all-important
cases II also explains why the su-
preme court listened 20 a motion for
reargument before a full bench.
Until these cases have been de-
/ cided. all the companies who may be-
come involved later are inclined to
sing small and fly lower.
In view Of the fact that Justice
/ Moody has not yet retired. his place
could not be filled before the adjourn
ment OF Congress. President Taft has
announced that he will make no re-
cess appointments to the bench. so
when the supreme court convenes IN
October T. viii lack one member un-
less Justice Moody RECEIVERS his health
and holds on. which isn't likely.
As Congress does not meet until
December, the place viii not be filled
until that time. This means that the
cases will not be reargued much be-
fore January. and that decision may
not be expected until some time in the
| spring.
In tho meantime the holding COM
| panies will mark time.