The St. Lucie County tribune. (Fort Pierce, St. Lucie County, Fla.) 1905-1920, 1911-12-08

the decree: ''' approving
.o NC extent to which It has hoor
~. e'S"ry TO tear apart this couhinn
ZION ana force it into new forn,., ,,.',,
'ne attendant burdens ought 70 do,nn ~"
,""'e 'na' the federal antitrnst s,otuto
20 ulastlc statute which accomuyi.ho.
ehective results, which so ,,nr -. :,
',"uos On the statute books mus, ho
oee!ed and which cannot be disohoy
eu without incurring farreocbino nov,
",e ANU on the other hand. the
successful reconstruction of th,, on
sani@ation should teach that tbc arroc,
Vi enforcing this statute is not ,o do
'"oE, Dut to reconstruct, NOT to do.
nioliSh' but to recrcate IN occo,don,o
WIN the conditions which the congress
has declared shall exist amony tho
people Of the United States"
Common Stock Ownership.
II mas been assumed that the rrcy.
eht pro rata and common OWNERSHIP IN
u'' tlleSe companies by former stock
hoIuerS OF the trust wOull iusure -
con'iliuahce OF the same old single con.
.io' OF all the companies into which
the trust has by decree been 1lsiutn.
grated, This Is erroneous and +. bosod
upon the assumed inriHracy and innoc.
uoushess OF judicial iniunctions. The
companies are enioinod from co.opero
'ion or combinations they have differ
eht managers, directors. purchasing
ana sales agents, If all or many Of
tue numerous stockholders. reachnr
into the thousands. attpmpt TO secure
concerted action OF the companlcs with
view to the control of the market
tnelr number Is so large that such nm
attempt could not well be concealed.
and It's prime movers and all it's partic-
ipants would be at once subject to con.
tempt proceedings and imprisonment
or summary character The immedi.
ate result Of the present situation will
necessarily be activity by all the com.
panies under different managers. and
then competition must follow or there
Will ne activity by one company and
stagna;iOn by another. Only q short
time will inevitably lead to a change
In ownership of the stock. as all op.
portunity for continued cooperation
must disappear. Those critics who
speak Of this disntegration in the trust
as mere change Of garments have not
given consideration to the inevitable
working of the decree and understand
little the personal danger of attempt.
ing to evade or set at naught he sol
emn injunction Of a court whose object
Is made plain by the decree aud whose
inhibtiOnS are set forth with detail
and comprehensivenesS uueSalnpled in
the history of equity Jurisprudence,
Voluntary Reorsanizations Of Other
Trusts at Hand.
The effect of these two decisions has
led to DEGREES dssolving the comhinn.
ton of manufacturers Of electric
lamps. southern Wholesale grorers
association. an interlOcutOry decree
against the powder trust, with direc-
tons by the circuit court compelling
dissolution. and other combinations of
Il similar history are now negotiating
with the department Of justice looking
to a diSintegration by decree and re-
organization in accordance with law
IT seems possible to bring abont these
congratulations without general bust
ness disturbance
Movement For Repeal Of the Anti
trust Law.
But now that the antitrust act is
seen to be effective for the accomplish !
ment OF the purpose Of its enactment |
we are met by Il cry from many differ
ent quarters for its repeal. 1t is Soid
10 be obstructive of business progress |
10 he an attempt to restore ola laSh |
ioupd methods OF destructive cOmpetl' !
ton between small UNITS ana 10 'li'n'
lmpossibIe those useful combinations /
of capital and the reduction Of the cost
Of production that are essential TO con
,inued prosperity and normal growth
Ia the recent decisions the supreme
court makes clear that there Is ho'h
ING in the statute which conu'N'"S
combinations Of capital or mere bi-
ness of plant organized to secure eco"
amy in production and n reduction OF
ifs cost. 1t is only when the purpose
or necessary effect of the ofganiza' ~"
and maintenance Of the coho'h''''o'
ar the aggregation Of immense sue ~,
m. sitting Of competitions actua' "n"
pn,entia. and the enhancing OF prices
and establishing II monor"'y th'' ''''
.,,tutp IS violated. Mere SIZE u ~,
sin AGAINST the law The merging %
tw, mr. more business plants ieceSN','
"A eliminates competition oet tween '"'
.L,,, rombiupd, but TINS elIIhli"