The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-01-17
STANDARD OWES
PUBLIC NOTHING
Oil Trust Lawyer Tells How Cor
pOratiOn Differs From Rail
road Company.
COMBINE NOW IMMORTAL.
SAYS ATTORNEY GENERAL
New Jersey Pact, He Ayers, Pre-
vents Control From Be-
ing Changed.

WASHINGTON. Jan. I6.-Attorncy
General Wickersham today argued be
fore the supreme court of tho United
States that tho defense put up by
the Standard Oil company against dis
solution fall to the ground.
Ii was the third dav of the oral ar
Gumeni OF the case Frank b. Kellogg
had concluded his long argument in IA
vor Of the dissolution as dccTccd by
the circuit court Of the United States
d, T. Watson of Pittsburg had cen
tered attack on the form and effect
of the decree Mr.. WickerSham was
for the government. lie did not con
clude. but will complete his argument
tomorrow. when John e.. Johnson will
finish the presentation of the entire
case
The address of Mr.. Watson paved
the way for Mr.. Wickersham S re-
marks. Mr.. Watson made the decree
OF the lower court his topic He syid
the circuit court held hat the defend
ants had done nothing after the pass
age of the sherman antitrust law 10
violate it, but 90 convey the proper
ties held together for wears by Il law.
ful body OF men 10 the Standard Oil
company al New Jersey. He declared
that the Standard Oil company did not
gain in single power by reason of the
conveyance
No Duty to Compete.
'Wc did not put any alien property
in the new organization. he said.
''Only joint property was changed
PRAY tell me how the Standard Oil
company OF New Jersey could restrain
trade by such a conveyance.
He contended that the properties
conveyed were on-competitive before
1899 and remained cxnctlv as they had
been after that year. The reason he
advanced for the circuit court holding
that the conveyance WIS illegal was
that il believed il had to follow the
decision of the supreme court IN The
Mort hcrn Securities case. But the
STANDARD OIL company ease. he argued,
differed from thc Northern Securities
suit.
In the latter. the railroads. owing a
duty to compete, and engaged in act
i've and actual competition, were con
cerned. In the former cuse there were
concerned trade companies. owing no
duty to compete, and in no competition
with another because of their common
ownership.
a second point that Mr.. Watson ar
gued was that the decree practically
confiscated property, because it did not
allow the subsidiary companies to pay
dividends 10 the Standard Oil com
pauy OF New Jersey, and that the
stock of the company became practl-
cally worthless.
"It is gratifying to believe,' said
Mr.. Wickersham, following Mr.. Wat
son. "that the defendants will, at least.
find some difficulty in evading the
decree Of the lower court If 1t is af-
firmed. -
Makes Trust Immortal.
He took up the defense of the de-
cree. saying that the court below had
held that a conspiracy TO restrain
trade had been found and that the con
veyance of 1899 was made in pursuance
Of that conspiracy,
After reviewing the history of the
Standard Oil company 10 support his
claim that its organization Just pre-
ceding the reorganization of the
Standard Oil company of New Jersey
in 1899 was Illegal Mr.. Wickersham
answered Mr.. Watson s question about
the effect of the step in 1899.
1.-THE effect was to rivet the con
troll of one hand over the twenty com
panies, control that neither death,
taxes nor financial ruin could rend.
Before. the separate stock of one of
tbe certificate holders would have dis
integrated the control. BY this reor-
ganization. perpetual immortal ele-
mcnt was accorded to the CONTROL
Chief Justice White asked the at
torney general TO test what he had
been citing by an illustration, Before
Mr. Wickersham could comply fully
with the request to show how more
effective. perpetual control had been
procured. the chief Justice said he had
misconceived the statement. but that
he then grasped the idea,