The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1911-05-17
Standard Decision Cripples
Sherman Antitrust Stat
ute which Congress Must
Now Amend.
PROGRESSIVES ARE
PLANNING ACTION
Federal Incorporation Law
Favored by Administration
Not to Draft Bill at Spec
ial Session.
(Amsrican News service)
BuLLETiN.


New York. May 17.-Four new
trusts probably will grow out OF the
dissolution OF the Standard Oil com.
pany, according to reiiable informa-
tion today. The parent concern will
be broken into four powerful organixa-
tions: viz: Producing, manufacturing.
transportation and selling companies.
Washington, May 17-While some
members of both houses freely ex-
pressed the opinion today that the gu.
preme court decision dissolving the
Standard Oil company cripples the
Sherman antitrust law and wrests
from the government it's only weapon
with which to fight monopolies, tho
opinion prevailed here that congress
will frame new law to deal with
trusts
This law, 1t was reported, will be
designed to wipe out the supreme
courts classification OF trusts as .'rea-
sonable" and unreasonable"
The more closely the decision is
studied, the more determined the pro.
gressive wing of both parties is be-
coming that the antitrust law must
be amended in such q way as to make
it impossible for the supreme court to
limit combinations in restraint OF
trade to such combinations as the
courts may decree are unreasonable
disappointment among this group 0f
Statesmen Is keen. Among the regu-
lars and In administration circles
there is feeling Of nisgiving concern
ing the courts Interpretation OF the
law and the holding that "reasona.
BILE" monopoly was not in contraven-
ton of the state. President Taft is
himself disappointed, his friends say.
It is apparent that the decision will
result in a great deal OF agitation In
congress for an amendment OF the
statute or the re-enactment Of q fed
eral Incorporation bill proposed by
the president in January 1910. In view
of the particular business for which
the president called the special session
together, 1t is unlikely that any special
message will be sent in or that the
executive will do anything at this
time to divert the minds Of members
of congress from the peculiar situation
now confronting them.
Conferences Arranged.
On their own initiative, however,
congressman will take up the question.
Already the. progressive Republicans
are arranging for conferences for tho
consideration of amendments to the
law UPON which they can agree. and
which eventually will be offered with
their support back of 1t.
From the viewpoint OF the admins
tration 1t is believed a federal incor-
poration law would be preferable to
the amendment OF the Sherman act.
As whole the cabinet is more likely
to favor the former.
Secretary Nagel has already an
nounced that he favors federal in
corporation law.
The president and the cabinet will
await the decision in the tobacco case
which Is expected May 20. Until then
no policy will be outlined to strength
en- the antitrust law, or solve the prob
lem that Mondays decision appears to
have been made more vexatious than
ever before.
1t may be stated. however that there
is no intention to check the activi-
ties Of the department Of justice.
Trusts found violating the antitrust
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