The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-11-19
THINKS APPEAL
SHOULD BE TAKEN
Public Opinion Strong Enough
to Force Further Action in
Case, Which Now Stands as
Victory for Big Bust
ness Over the
People,

NHe steer corporation Is conducted oh
broad business lines, / think il Is
the most menscing OF all big coInbina.
tons. because OF it's control of the
money power declared samuel Inter
meyer noted corporation lawyer and
expert in finance. in tcstifying before
senator Clapp'S Industrial investigating
committee to-day.
Powerful hands control tho steel
Corporation and make II almost lin
possible. except by consent for an
Independent to exist"
You say that tho menace Of the
steel Corpora lies In the fact that
the men in this corporation control
banks and railroads. observed Sem
ator Cumnlins IL the CORPORATION
had but sap0.ooo,o9o capital 1t could
not have the money power suppose
the corporation capital was DIVIDED
into five corporations. Would the in
ftuencc not be less?"
They would have the same in
h;enc" through control Of the 1--WE
companies that they have in controll-
ing on" company insisted Mr.. Tn
termcyer
What is your definition Of trust:"
asked senator Cummins
Trust Defined.
a combination in corporate form
Of a substantial part of an industry
through holding company or other
wise," said Mr.. Cntermeyer
1T does not necessarily involve a
monopoly but such control OF the
trade that IL virtually amounts TO a
. monopoly"
You think trusts should not exist,
suggested Senator Cummins
Yes, think they should not exist,
and that they should have been pre-
! vented"
Under your Plan in 1901 the Steel
Corporation could have been formed
just the same" asserted The Senator.
Not at all" defended Mr.. Inter
meyer. warmly. Had the government
been alert it could have onjoined the
promoters and stopped the organiza.
ton Of the corporation That was
flaFrant vAolctian ~ ;i.c Jazz p-,de.
I ~ advertised" declared the lawyer en-
phatically, The tobacco case" he
continued, stands as a surprise TO
the legal profession. The plan of dis
solution simply puts new clothes on
an old trust. II needs close attention,
and harc no doubt this committee
Will give II attention.
The plan OF dsinteeration of the
tobacco trust is complex. Briefly the
snuff industry which was a monopoly.
is not disturbed and remains "a inonop-
oily. The cigarette and tobacco bust
ness is so divided in the four new COM
panies, one of which is controlled by
the American Tobacco Company. that
each of the four companies will hold
a monopoly.
BRIEFLY. you have four concerns set
loose. each controlling about IS per
cent. of the business Then they say
so ahead and compete. but the stool
ownership is held by people with inter-
est in all four companies. 1t is a
judicial farce"
Court Seems Helpless.
will YOU suggest a better plan Of
dissolution asked Senator Newlands.
That would require a substantial
retainer laughingly answered MIR.
Cntermeyer II think Congress should
force the government TO appeal from
the courts decree The court seemed
helpless i'll the case. There was fear
of disturbing big business The
Attorn"v-General was concerned in
this plan and think the tobacco trust
rather did him
Had the court refused the plan the
trust would have gone ahead and pre-
scented plan of dislntegration that
the court could accept. The trust did
not want a receiver which was the
alternative.
How can an appeal from the plan
e. accepted be taken to the Supreme
Court asked Senator Newlands
The Attorney General can take il.
No Independent can. because they are
not allowed to intervene and had no
standing in court" explained AIr Tn
termeyer. This appeal can be forced
by the popular vote OF tho country,
despite the fact IL is said TO have the
approval of President Taft Us well az
the Attorney General"
rs II YOUR opinion" asked Senator
Pomerene. that il is easy for the new
companies OF the tobacco trust 10 effect
a gentlemen's agreement"
II don't think IL is needed The
same people control The tobacco trust
is and was monopoly. The law was
broken down in this case.
my observation is that additional
legislation is necessary to strengthen
the Sherman law. as shown by the
flasco in the case of the tobacco trust.
do not believe IN changing the Sher-
man law OF in its repeal. 1t should be
supplemented. ! do not know whether
it would be best TO do this by spe :
cial commission, a Federal license or 8
Federal incorporation law. All three
may be necessary, SO long as Stat es
continue 10 grant charters with special
privileges because of tho fees they get
| a few weeks ago / wanted TO incorpo-
rate a concern in one State. another
State offered greater immunity The
first State told me 10 wait ten days
and they would hN IL up for me.
The day of unrestricted competition
has passed" Untermeyer declared, car
nestly as he leaned across the table,
u have thought q commission named
to assist a court In the disintegration
OF these great combinations could pa SIS
on all these agreements. We know
they exist to-day. although they are
Continued on Second Paee.)