The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1911-05-18

souri, against 143 corporations and
seven individuals, constituting the
Standard Oil Company and its nu.
merous affiliation, all accused of vio-
lating the Sherman antitrust law.
In the lower court. the government
won, the court sustaining practically
every contention of the government.
The case was appealed and prgued
before the supreme court last spring.
About a half billion dollars is invest
ed in the oil trust.
New York City.-The stock mark
ct opened strong today. with frac-
tional gains amounting to full point
on the majority OF shares. Standard
Oil stock on the curb was strong at
$50 asked.
London, England.-The London
stock market opened with no excite
ment over the Standard Oil decision.
Later in the day the market harden
ed, with distinct support for Ameri-
can securities.
New York City.-M. F. Elliott,
chief counsel for the Standard Oil
company, in brief statement today,
declared tnat the company would
obey the order of the court to dis
solve
Washington, D. C.-Criminal pros.
ecution of the officials of the STAN
dard Oil company may follow the de-
cision of the supreme court, it is
state by high officials of the govern
ment. The matter will be taken up
by the encouragement in few
days. A possible obstacle confronts
the government in the statute of linz
itations, under which the oil trust
officials are expected to claim immu-
nifty. The government, however,
takes the position that the combina-
ton was continuing the. offense up to
the time it was ordered dissolved.
Washington, D. C.-The Standard
Oil Company of New Jersey and its
nineteen subsidiary corporations
were declared late yesterday by the
supreme court of the United States
to be conspiracy and combination
in restraint of trade. 1t was also
held to be monoplizing interstate
commerce, in violation of the Sher-
man antitrust law. The dissolution
of the combination was ordered to
take place within six months. Thus
ends the great struggle on the part
of the government to put down, by
authority of law, a combination,
which it is claimed was menace to
the industrial and economic ad-
vancement of the entire country.
Gist of Decision.
The supreme court holds:
That the Standard Oil company
is monopoly in restraint of trade.
That this giant corporation must
be dissolved within six months.
Corporations whose contracts are
not unreasonably" restrictive Of
competition are not affected.
Other great corporations whose
acts may be called into question will
be dealt with according to the mer-
its of their particular cases.
The court was unanimous as to
THE main features Of the decision.
Justice Harlan dissenting only as
to the Interpretation OF the Sherman
antitrust law.
President Taft and cabinet will
consider Immediately the entire
trust situation, and the advisability
of pressing for federal incorpora-
tion act.
A decision in the Tobacco trust
case which was expected at the
same time, was not announced and
may be handed. down May 80.
Sherman Act Interpreted.
The court interpreted the Sher-
man antitrust law so as to limit its
application to acts Of undue" re-
straint OF trade and not every" re-
straint Of trade. It was on this
point that the only discordance Of
note was heard in the court. JUS
tice Harlan dissented, claiming that
cases already decided. by the court,
had determined, once for all that
the word undue" or "unreason-
able" and similar words were not
in the statute. He declared that
the reasoning Of the court in arriv-
ing at its finding was in effect, leg
islation, which belonged, in every
instance to congress and not The
court.
Ever since the decree in this case
in the lower court, the United States
circuit court for the eastern district
OF Missouri, was announced, hope