The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-11-09
Its Acceptance, w it'll
F ew Notifications,
Is Announced.
JUDGES AWARE
IT'S NOT PERFECT
Reorganization Must Be Con-
sum1nated Without Delay-Re-
quest of Wickersham for
Right to Apply for Further
Relief if Necessary Not
in Courts Province.

! New York. November S.--rhe liti-
| cation which the Federal government
! began four and a half years ago to
break up the American Tobacco Com
pany as a monopoly in restraint OF
trade approached the stage OF COM
pletion to-day By judicial acceptance,
with few notifications. OF the much
/ discussed plan which the tobacco COM
pany itself drew up for dissolution
4, of the combine in accordance with a
mandate of the United States Supreme
Court.
The decision of approval was filed
by Judge Lacombe. of the United
states Circuit Court, shortly after
stock market hours this afternoon.
and supplementary opinions were filed
by Judges Coke and Noyes. concurrins
generally with Judge Lacombe. No
one of the judges regard the plan as
perfect, but all declared that the ideal
. was beyond attainment. and that as
practical, substantial compliance
with the law the plan, as slightly
modified. appeared the hest attainable.
Each Judge asserted his belief that
the plan is honest. and that there ia
no question of the good faith of it's
authors.
Must Be No Delay.
The features of the opinion are that
the dissolution should be consum-
mated without delay; that the request
of Attorney General Wickershani for
the reservation by the government of
right to apply for further or other
relief within Il period of five years II
the plan did not result In harmony
with the law Is declared not to be
within the authority OF the court to
grant; that the court does enjoin for
a period ofsthree years the twenty
4 ..l. - l.,t5 -. A N.
from acquiring any additional hold
ings in the companies into which the
trust Is split. and that the application
made by independents for dissolution
of the United Cigar Stores Company
lay outside the authority of the court
but that this did not preclude any
independent action later against the
Cigar Stores Company as an indi-
vldual corporation.
The announcement OF the courts &C.
tlon was followed almost immediately
by the declaration of counsel for sew.
eral OF the opposing independent to-
bacco interests that an attempt un,
doubtedly would DO made to have the
decision reviewed by the United States
Supreme Court
Judge Noyes drew a general mora.
from the case. In conclusion lie said;
The extent to which it has been nee
essary to tear apart this combination
and force 1t into new forms, with the
attendant burdens, ought to demon
stratc that the Federal antitrust stat
ute is drastic statute. which accom-
plishes effective results, which, SO long
1t stands on the statute books must
be obeyed. and which cannot be DISC
beyed without mourning far-reaching
penalties. And. on the other hand. the
successful reconstruction of this organ
ization should teach that the effect of
enforcing this statute against indt-
vidual combina lions is not to destroy,
but TO recreate, in accordance With
the conditions which tho Congress has
declared shall exist among the people
of the United States"
Not In Courts Power.
In commenting upon the request OF
Attorney General Wickersham for the
reservation to the government of the
right TO apply TO the court al any time
within tive years for further or other
relief. Judge Lacombe says:
But neither in the Supreme Courts
mandate nor it's opinion is there any
warrant FOR the conclusion that this
court Is TO prescribe the temporary
terms of the modus vivendi, with the
power to rcassemble. ourselves or our
survivors and successors, and modify
those terms. while III the interim, by
purchase or exchanges OF these bonds,
upwards Of 100000, 900 worth of prop
crty shall have changed hands ire
Nocably. The only function assigned to
us is to consider any proposed III,
which responsible parties engage to
carry out. and approve or reject it, in
the event of rejection tho only alter
native being injunction, receivershtp
and sale. The time limit fixed in the
mandate, six months. and possibly twd
more, precludes any other construction
OF its terms
Judge l.ncombe says that while the
plan for disintegration is correctly de-
scrbed as the proposed plan OF the
American Tobacco Company. since that
corporation and the other defendants
offer to carry IL out. II should be re-
membered that in It's present form the
plan is the fruit OF much discussion
during the open hearings He says
also that the objections of Attorney
General Wickcrsham were followed by
notifications OF the plan. some OF its
most drastic provisions being inserted
in order to meet or avoid his criticisms.
Keep Records intnct,
lie also says that provision should
he made in carrying out the plan for
keeping intact books and records OF
the American Tobacco Company. its
present constituents and branches. 80
that they will he available aud subject
Ia examination 10 tho same extent as
at present in suits for accounting and
other existing litigations.
Justice t.acomhe also considered the
objection which the ATTORNEY General
made to the plan of the company ia
q. m