Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-05-16
WALL STREET LOOKS ON
DECISION AS FAVORABLE
Stock Market Has Its Biggest Boom
of Many Months
CRIMINAL ACTION POSSIBLE
Prosecution of Trust Officials One Of
Matters to Which Attorney Cen
eral Wickersham May Now
Give Attention.

NEW YORK, May 12-The first word
from the Standard OIL Company on the
decision against 1t yesterday Of the
United States Supreme Court came today.
1t makes two points clear:
First, that there will no contumacy
by the company-it purposes to obey the
decree: and, second. that II will be some
time before plans of reorganization are
given out
The company has insisted throughout
that no plans had been formulated in
advance of the decree. and the statement
made today by Mortimer v. Elliott. gen.
eral solicitor for the company, takes the
same attitude. He said:
Business Will Go On.
Having only before us the press re-
ports Of Chief Justice Whites oral opin-
ion and the remarks OF Justice Harlan.
and not having yet seen the opinion OF
the court in full. 1t Is impossible to make
any lengthy statement. The full opinion
must be read aand studied by my ASSOC
ciates and myself before it can be intel
ligentiy dealt with
'It may, however. be now said that the
Standard Oil Company will obey the de-
cree Of the court and that ali the COM
panies embraced in the courts decree will
carry on their business as usual under
the direction of their own officers and
through their own corporate organt8ar
ton"
Meeting Of Trust Directors.
William Rockefeller. one Of the vtcs
presidents of the Standard OH COMPANY
| said regarding the decision:
''At this time I cannot say thing about
the decision. The company will make .
statement through Mr. Elliott after the
decision has been read in every particu-
lar. All we can DO u TO hope that the de-
clsion is for the best. After all. the
Standard OH case was only one Of the
things affecting general business con-
dltlons unravorably."
A conference OF directors and officers
Of the company was held at its offices
today, attended by John c. Milburn. spe-
ciaI counsel, but no statement further
than tnat made by William Rockefeller
was forthcoming.
Among those who attended were John
D. Archbold, H. c. FOlger, jr.. J. A.
Moffatt, Walter Jennings. A. c. Bedford.
Charles A. Pratt, and E. T. Bedford.
John u. Rockefeller did not come down
from his country place. Henry A. Flag
Ter is In the south an dOliver &. Payne
was out OF the city.
Wall Street Likes It.
The largest gains of many months were
made this morning in the stoch market,
which interpreted the Standard Oil de-
cision as being decidedly favorable from
the Wall street viewpoint The strength
and activity of the market were due also
to no small extent to relief which was
felt that the decision had been rendered.
and that the uncertainty, which has re-
stricted business for months was out OF
the way.
Predictions Of increased activity in the
market after the decision was announced,
whatever It might be- We're fully borne
out. for in the first hour more than
10000 shares Of stock were traded in.
three times the amount Of business done
at yesterdays entire session
On the curb a sale OF 100 shares OF
Standard Oil was reported at $40. de-
cline of ~ points from yesterdays clos
ing price The general list on the ex-
change remained firm and followed the
London market. where the tone toward
the closing was almost buoyant.
Tobacco Scores Big Gain.
United States Steel in one block Of I5.-
600 shares sold at Il to Is. a maximum
gain Of 21s points. Reading advanced
points on heavy transactions and Union
Pacific was up ia The most sensational
gain. however. was shown by American
Tobacco stock. which opened at 4.76. .
gain Of ten points over the closing yes
terday, when decision In the case
against that corporation was expected to
accompany the Standard OIL decision.
The crowd of traders on the local stock
exchange was the largest In many weeks.
and the business contrasted sharply with
the caution and apathy which existed
during the recent period of waiting for
the decision Of the court. The sound OF
the opening gong was followed by
hoarse roar as brokers gathered around
the principal trading posts. The omces
of the leading commission houses were
filled with men. many of whom had not
visited the financial district for weeks