Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1911-05-19
STANDARD OIL CO. DISSOLVED


washington. D. c., May 15.-In the
most dramatic hour thst Washington
has ssen for many m0nths the Supreme
Court of the United States today
smashed the great Standard Oil Trust
10 decision handed down by Chief
Justice White, which Is concurred in
by all his associates except Justice
Harlan, who in vigorous manner
delivered an opinion dissenting from
his colleagues. The decision simply
wipes of the map the Standard Oil
Company as it is known today.
It compels the corporation to dis
solve into the 200 or more parts and
branches of which it is composed. The
main company, the Standard Oil Co..
OF New Jersey, Eust hereafter stand
alone. Six months time is granted
the trust to reorganize its affairs In
compliance with the law. It is esti-
mated thatrearly half a billion dollars
lis involved in the momentous decision
which was handed down today. 1t is
q lengthy document containing more
than 25, 900 words, and Justice White
read not more than an abstract OF 1t
At ABS O'Clock the news was definite
flashed around the globe that the
great trust had met its waterloo. Al
this dramatic moment Frank Kellogg,
whose legal career was crowned by
the colossal fight he made on Stand
ard Oil as special prosecutor for the
government, stood up in court with
tears in his eyes and received con-
CALCULATIONS from his friends. One OF
the first to reach him was Senator
Lafollette of Wisconsin. 1t was no.
ticed that Senator Jos. w. Bailey, OF
Texas, who sat in the courtroom for
nearly four hours waiting patien ly
FOR the expected decision, turned away
without word 70 anyone with an air
of disappointment when it was finally
reached.
Attorney General Wickershamconld
hardly restrain his Joy and all OF the
lawyers of the Department of Justice
feel that the government has scored
its greatest victory in the last twenty
years, as it vindicates the Sherman
Antitrust law.
John G. Johnson, chief counsel OF
Standard Oil Company, and regarded
Eby many as the ablest lawyer in the
United States, refused to make any
comment on the decision. None OF
the officials of the Standard Oil Co.,
who are in Washington tonight, would
tell just how they proposed to reor-
ganize. They did say, however, that
they would do their best to keep the
stock market steady tomorrow morn
ing. 1t is hoped that the market will
not decline more than ten points and
strenuous efforts will be made to keer
| it within tina: figure.
The decision today is based on three
clauses of the Sherman Antitrust Law
prohibiting restraint of trade, mono
poly, and the attempt to monopolize.
Justice White did not find the Stand
ard Oil Co. guilty OF any wrong do
| ing. He said that more than SO vol
umes of printed testimony had beef
offered the court relating to the caree
of the Sta ndard Oil Company ant
that it was all SO confusing and 81
conflicting tn at the exact truth coul'
| not be ascertained in analyzing it
He said he did not believe the Stan
dard Oil Co. to be any better or wors
than the business ethics of the as
allowed. 1t was a monopoly, how
ever, and that fact could not be denies
and therefore it came under the Sher
Imam Antitrust act.
The fact that the Sherman Law ha
been declared constitu tional, will
probably result in scores of prosecu
lions. Among them is the Unitet
tates Steel Corporation
1t is expected that the decision viii
put an emphatic cneck on the move
ment of great combinations anon.
| the financial interests of Wall Street