The Idaho Republican. [volume] (Blackfoot, Idaho) 1904-1932, 1911-11-10

ing the future, and by the time con-
gress convenes, the Ills to which their
organization Is heir will have been
largely cured. Subsidiary companies,
who control the railroad properties,
mining operation and the like, are
being cut loose-a sort of internal
house cleaning and reorganization Is
being brought about, and by the time
the Democrats who are Investigating
steel are. ready to report, it will not
be surprising to learn that the great
masters of finance who operate in
this wonderful commodity have ar
ranged the conduct of their cronies to
the entire satisfaction of the depart
ment of justice, and the most critical
of the trust busters.
Standard Oil
Not many years ago it was pop
ular pleasure to berate Standard Oil.
Prosecutions were aimed at the in
stitution from every direction. Fines
heretofore unheard of were imposed.
The great magazines carried stories
prepared py the country's most re-
nouned writer's. Finally the, supreme
court decreed that Standard Oil was
conducting its affairs In restraint Of
trade. II there is a corporation on the
face of. american soil that has justi-
fed itself in the eyes Of Its critics,
| it is Standard Oil, and now one hears
that 1T is the best OF all the trusts. "
Three or four years ago Standard Oil
adopted a policy entirely different to
that they had previously persued. The
veil of secrecy was removed, and the
affairs of the company were thrown
open to all who wished to inquire.
The result was astounding, and re-
stored the confidence of the Ameri-
can people in this great institution.
Standard Oil was so much whittier
than anyone ever suspected that the
country decided to look upon it with
some favor, and tell how oil had been
reduced everywhere through its won
derful systems of distribution. There
has been no fuss nor feathers about
the reorganization or this concern,
to meet the requirements of the SUI
preme court decisions. Only common
stock of the Standard Oil enterprises
were ever issued-tnere were no pre-
ferred issued, no troublesome bonds.
So separate companies are being Or
ganized-there may be the Standard
Oil company of Iowa or Oklahoma,
and so on. The same interests that
have long operated with the Rookie
fellers will own the stock in all these
separate concerns. The New Jersey
corporation will no longer act as a
holding corporation" but, presto,
change! the thing is already nearly
done, and no one is rising to protest
that it has not all been rightly done.
Big Business i'm General
In following up this story the cor
respondent of the Republican spent
several days in the center of the great
corporate institutions. In order to
view the effect upon the big business
interests as reflected by Wall street.
The net results Of my observations
are that / find determination never
before SO broadly recognized in the
country to obey the law, not only
in letter but in spirit. One large
operator expressed the whole situa-
ton tersely: 1--WE are obliged to
walk straight wheyner We want to
or not, SO we have decided that we
will have to walk according to the
new order of things and We are trying
to be pleasant about It," Stocks and
the market are very quiet, and the
short-change artists OF high and fren-
zied finance never had harder time
than now. Big business Is trying,
in most instances, to live within the
law, perhaps because no other course
is possible. And most people will
agree that this good thing.