The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-12-10
COMPETIT0RSCAN
GO TO COMP T|hG
CONTINUED From Firs, pase.)


opinion possible under the circum-
stances. and that under the direc-
ton OF the Circuit Court for the ,
Southern District of New York and
with the cooperation OF Attorney
| General Wickersham, plan of reor
Sanization was worked out that at
! once protects the stockholders and the
public. and could scarcely be improved
upon. He believes that the men In
tcrcstcd in the reorganization have
acted, and will continue to act, In
good faith. Nevertheless. IL IL should
develop that they arc not. the arm Of
the government is long and the pursuit
of the offenders will be relentless. He
believes the Injunction features will
| amply serve to prevent any collision
In the future or any attempt to evadc
the laws. 1t Is possible, Of course
! that some stockholders or officials may
undertake to effect working combina-
tions or agreements. or acquire con-
troll OF stock where the same has
been forbidden by law. or In some
other. manner violate the injunctions.
IT any one entcrtains such. an idea
| 1t may be we'll to consider that In
such cases there will be no prolonged
litigation; no trial by Jury: no long
drawn-out appeals! The offender will
be called into some quiet court room
and his onense pointed out to him
and a Jail sentence imposed. from
which there will be no escape? Pres
idcnt Taft has every confidence In the
ability and the disposition of the
| courts to cffectually deal with such
| contingencies. and that one or two
conspicuous examples would be sum-
| cicnt to deter all other prospective
] !awbreakcrs. For these. as we'll as
| other reasons. President Taft is quite
/ convinced that the trust magnates af-
| fected are proceeding in good faith
In the appllcat ion OF the courts or
ders and will continue to do SO In
| DE- hnitely.
| Scouters and Doubtcrs.
| or course. there are some who will
scout the idea that the heavy hand
OF the law will fall upon distinguish
| ed Offenders. But IT. should be re-
memoered that the above vitws are
those of the man who dissolved the
! hitherto imprcgnable Standard Oil
trust and the strongly intrcnched to-
bacco trust, who is now engaged in
the task of attempting to send the
peer parons bathtub magnates, and
! DINERS TO jail, and who has not hesi-
tated to attack the stel trust, with it's
allies In every railroad office and in
every bank and brokers' Office
Ihe President maintains that when
business is properly segregated as
ne believes has ben done with the
tobacco trust, where absolute auton-
| omy is provided for each OF the new
concerns in their officers and directors
the stockholders themselves will tnkc
care OF the rest They must compete
TO live! 1t is pointed out that the new
concerns are each OF large capitallza-
tion. each controlling favorItc brands
and each naturally a competitor of
inc others. The production and sales
OF each concern under normal condi-
lions can easily be appropriated. 1t
| is pointed out that should one concern
undertake TO lessen Its competition In
| any direction, the result will soon show
in It's sales, receipts and dividends,
| winch would Immediately start an in
quiry from the minor stockholderz
There are 5000 OF these. approximate.
~. and II any one undertook to com
pine them II would be a hopeless task.
Some one would be certain to soueal.
Competition Must Compete.
As lar as the question of "compe-
ton is concerned, it IS pointed out
mat II is not intended to compel COM
| petition by law. All that the law
| contemplates is to make competition
possible. This the President feels has
been done. and that It is now up to
those Interested to compete. To re-
| peat; he feels the new concerns must
compete to live. The millions at stake
appear to Justify his conclusion that
| II VIII be nip and tuck for existence
and continuous dividends.
President Taft is also satisfied that
| big business can square itself with
the existing laws, II It la so inclined.
| He thinks that has already been con-
clusively proven in the oil and tobacco
cases. Consequently he is opposed to
any radical changes in the laws nor
| will he cease his efforts to compel all
offenders to come into camp. His
policy on this question is fixed and
| infleSible