The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1911-12-05
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1
TO contracts or combinations or con
| splracies in restraint OF trade whose
| purpose was or whose necessary effect
would be TO stihe competition. TO con
trol prices or establish monopolies
The courts never assumed power tc
say that such contracts or combna
| tions or conspracies might lie law fal
If the parties to them were only mod
crate in the use OF the power thus sc.
| cured ana did not exact from the pub
! lie too great and exorbitant prices. II
is true that many theorists and others
engaged IN business violating the stat
| ute have hoped that some such line
could be drawn by courts, but no court
1 of authority has ever attempted it
| Certainly there is nothing in the deci-
sions or the latest two cases from
! which such dangerous theory OF tu
licial discretion in enforcing this stat
ate can derive the slightest sanction
Force and Effectiveness of Statute >
Matter of Growth.
We have been twenty one years max
ing this statute effective for the pur
poses for which IL was enacted The
knight case was discouraging and
seemed 10 remit to TIE states the whole
available power 10 aHtsck and suppress
the evils OF the trusns Slowly. howey
er. the error Of that Judgment was cor
rected, and only III tile last three or
four years has the heavy hand Of the
law been laid upon the great Illegal
com bina tions that have exercised snch
an absolute dOlninion over many of our
industries. Criminal prosecutions have
been brought, and a number are pend
Ing, but 1uries have felt ayerse 60 con
victing for Jail sentences ana judges
have been most rAuCtant Ia impose
such sentences on men Of respe,table
standing III society whose oitrnse has
been regarded as merely statutory
Still. as the offense becomes better Hn
derstood and the committing Of il par
takes more OF studbad and deliberate
defiance OF the law we can be conn
denr that juries win convict indiVidu
ais aud that Jail sentences will be no
posed
The Remedy In Equity by Dissolution,
In he Standard oil case the supreme
and circuit courts found the sombina-
tion to be monopoly of the Interstate
business of refining, transporting and
marketing petroleum and It's products,
effected and maintained through thir
ty seven different corporations, the
stock of which was held by New Jer
sey company. II In effect commanded
the dissolution OF this combination, di
racted the transfer and pro rata distri-
button by the New Jersey company of
the stock held by it in the thirty seven
TO and among its stock
holders, and the corporations and indl-
viduaI defendants were enjoined from
or combining 90 restore
such monopoly, and all agreements be-
tween the subsidiary corporations tend
Ing to produce or bring about further |
of the act were enjoined.
In the tobacco case the court found !
that the individual defendants, twen.
ty-nine ia number, had been engaged |
10 successful effort TO acquire com
Dlete dominion over the manufacture,
lie and distribution OF tobacco in this
and abroad and that this had
been done by combinations made with
purpose and effect to stihe competi
ion control prices ana establish a
monopoly. not only in the manufacture
If tobacco, but also of tin foil and lie
,rice used in its manufacture and Of
is products or cigars. cigarettes and
nuffS The tobacco suit presented 4
ar more complicated aud difficult case
han the Standard Oil suit for decree
which would efieetuate The will OF Che
.ollrt aud end the violation Of the stat
lte There was here no single hod
ne company. as in the case Of the
]tandard Oh trust The main company
vas the American Tobacco company.
manufacturing, selling and holding
ompany The plan adopted 10 de
troy tie combination and restore com
et1tion involved the redivision or the
apital and plants Of the whole trust
etween some Of the companies con
ututlng the trust and new companies
riga nized for the purposes Of the de
rec and made parties to It and mum
ering. new and old. fourteen.
Situation After Readjustment.
The American Tobacco company
old). readjusted capital s92 100000;
be Liggett q Meyers Tobacco compuny
1ew) capital S67 600 600, the p. Lori.
lrd company new. capital 70o0,
90, and the K J Reynolds Tobacco
ompany (old), capital 1925 900. are
biefy engaged IN the manufacture
nd sale of chewing and smoking TO
aeco and cigars The former one tin
1il company is divided into two, one
SS25 900 capital and the other OF
iOOO O00 The one snuff company IS
vided into three companies one with p
capital Of $4,000 90. another with a
.pital Of IS 100000 and D third with
capital Of Ss.0000O0 The ucorice
are two. one with a capital q
S5.75s. 800 and another with eapl q
! Of S2C000O0 There is also the u
ritish- American Tobacco company, p g
ritish corporation, doing business
,road with capital Of S2600Q000
G Porto Rican Tobacco company. =
lth capital Of Sls00. 600. and the .
rporation Of United Cigar stores
th capital Of s9000O00
Under this arrangement each OF the :,
= L ~. ]