Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1911-06-15
FIFTY NEW LAWYERS TAKE OAT
Portrait Of Late President Thaoher
Presented by Alumni.
ADDREss BIZ JUDGE aROssOUP
Chicago Jurist Reviews the Sherman
Anti Trust Law
BUSINESS INTERESTS BRUTAL
Question Asked ss 60 whether Recent
Decisions GO Far Enough 10
Prevent Corporations from
Takinw Chances.

IOWA CITY, Ia. June N-(special,)-
Fareweile were said at the University OF
Iowa today by nearly 900 seniors, eandi-
dates for degrees, graduate college students
and others honored at the annual COM
Inencement exercises.
The annual address was delivered by
Judge Peter s. Grosscup OF Chicago Of the
United states court OF appeals. who. ad-
dressing the students, said:
'sTo recognise combination and monopoly
as something necessarily here-square the
law to the fact--snd then. as condition
20 granting corporate power at sll reserve
the riGh; to regulate dividends" Judge
Grosscup's discussion of the remedy pro-
posed b. him was profaced by review
Of tha sherman act. in which he said;
"As intsrpreted prior to May Of this
year the Sherman antitrust act was be-
neved 70 be weapon. in the hands OF
the men who happened to constitute the
administration at washington. TO destroy
such specific Inonopolies and combinations
as the administration chose to consider
hurtfu to competition in enterprise In
stead the sherman act became a suuken
mine, over whlsh nearly every form OF
enterprise had 70 sail--she fuse that would
set Il Off, or keep II harmless. running
direct TO the cffiee OF the attorney general
at Washington
Desist from Being Brutal.
But win big business. with no re-
straint hanging over It other than the
sherman act IS now Interpreted, deslst
from being brutal? viii one of these big
business enterprises. caught now and then
employing the prohibited accessory meth
DDS and ordered to rehabilitate as the
Standard OH and Tobacco combinations
have been ordered 70 rehablIitate. prevent
others from taking their chances along the
same lines. or from taking chances along
other llnes7
but 10 which government. the national
or the state. shall be gsven the power to
apply the femedyg My answer is. that,
IN the case Of the biz so-callsd trusts.
such. for instance. AZ the packers or the
ssandaxd tull fbptnanys the bulk OF whose
raw materials 1s Drawn from states other
than Che counpany's domicile or the bulk
OF whose finished product is sold in states
other than the company's domicile thereby
bringing their business into interstate
commerce. the principles am urging
should be appIied by the national govern
meht. through such processes as win make
Il practically compelling that enterprises
Of this kind organize as corporations un-
der the United States laws.
Fuir ptvtdenda for All.
10 that extent at least. I am for the
new nationaliHn. BY the hand OF a single
sovereignsy and that the supreme soy.
ereisnty. and the principle. II seems to
me, can be sffecuvely applied to the biz
so-eailed trusts. But this does not mean
that the smsiier manufacturing and trad,
ing corporatons in any given field Of
enterprise should be nationally ineorpo
rated. From these arises no monopoly
And where. among these smaller con.
Germs. combinations arise in unreasonable
restraint OF trade. the Sherman act al
now interpreted would probably be sut
Client II the bulk OF the business Of IN,
eornrany Is national. let the nation be tn,
parent and regulator OF the corporat,
ADVANTAGES under which II Is conducted
end II Il absorhs enough OF the business
OF the line IN which II IS engaged e
Unable h to throw off effective compe.
tition; let the principle OF fair dividend
be appiied.c
Judge Grosscup discussed price super
vision as methcd of government regu
Iation as distinguished from restriction OF
dividends, Price supervision by govern
ment," the speaker said would AWAY
and necessarily be Indirect and inexact
fCoDtfuued ON Second p.0aA