The labor world. [volume] (Duluth, Minn.) 1896-current, 1911-05-20

STOCKS OF TRUSTS SHOOT .
UPWARD DAY FOLLOWING
Opinion Limits Application Of
: Statute to Acts of !" Undue"
Restraint Of Trade: &.

= Does the steel trust win in the
Standard oil decision? Hin >5..z # t@ss ..sz,
Has the supreme court handed the
American peopleta lemon? <- >.es5 e, ,
% This appears to be the opinion Of
such men as La Toilette, Poindexter
and others of the progressive type.
: Even President Taft seems vexed
over the language Of the decision.
No one ever. dreamed until this
week that the. Sherman anti trust
law did not apply: to every
restraint of trade. : = 49,. ~
q decision that the. law applies only
to undue" restraint Of trade, :
The little word undue" may con-
tain the lemon. 7
had the court not injected this
seemingly innocent word into the
antitrust law different story would
be told the American people today OF
the efficacy of American courts.
Only One Monopoly Hurt.
= The Standard Oil company would
not only be forced to dissolve, but
with it would go the United States
Steel corporation. the American To.
bacco company, and every other trust
doing business in this country. i
$ AS it is, however. all but the Stand
ard Oil company are made secure.
Until this decision was rendered
their status before the law was ques-
tionable. Indeed the Standard = Oil
officials are not. shivering in their
boots over the effect of the decision.
They are already, by leger de maine
process, j., reorganizing the great
monopoly to. conform to the ad-
jectives and adyerbs Of the supreme
courts liyeEenee s s. .5
The very day after the decision
was rendered the stock Of all the
trusts on Wall street shot upwards
many points. 1t is now generally re-
garded by the stock gamblers IN New
York that frenzied finance hiss been
given new lease of lffe. = s- =: g,
:: sss People VIII Still Be Robbed.
The form Of the. organizations Of
capital may be obliged. to change: bu,
monopoly will still exist, and the peo-
pie will continue to be robbed to pay
interest on mortgage bonds, and divi-
:dends son watered, preferred and. COM
mon stock. f- -. .y:a 81. +, -
Frank Kellogg, the Minnesota
."'Trust Buster" is not the idol today
that he has been. Mr. kellogg was
attorney for the government in TIE
Standard Oh case, and at the same
time served as counsel for the great
United States Steel corporation. :
Time and again people have won
dered now it was that Mr., Kellogg
could successfully and consistently
hold such dual positions II g. local
official of the Steel trust was asked
how it was, lie would give q far away
look and answer: Il. don't know
= Kellogg's Dual Position. sz. @ r
= The language contained In the
opinion of the supreme court clearly
indicates that Mr. Kellogg was bot,
successful and consistent in secur-
ing decision aualif1edly adverse to
the Standard Oil company without
affecting his other client-the Steel
trust. - =s. :. III r.
There is said to have been a
Steel interests for some years. Pres
ident Roosevelt was, known to be
friendly to the latter, and exceeding
~ bitter towards the former. In any
event it now looks as If the people
have little occasion for rejoicing. One
faction in the system has merely
succeeded in having .'one slipped
over on another faction.
This statement may be verified by
the language of Andrew Carnegie,
owner Of much of the Steel trust
bonds. This is what he says: I'VE
will esta blish a new commercial sys-
tenn. We will have a new commercial
life. It must be seen that combina-
:tions. being allowed, regulation will
follow. We, have adopted in a. new,
system. II am a happy man ut the
reading of that decision . ;:s..Ss.5555 s.5.,