The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1911-05-16
Markets Are Undisturbed by the
Standard Oil Decision.
Wall Street Had Its Ear to Eu-
rOpean Cables.
PRICES RULE HIGHER.
Courts Action Had Been Antic.
ipated and Provided For.
Plans of Reorganization Are Al
ready Being Discussed.

New York, May 16.-Wall street had
its ear to the European cables this
morning waiting for news of the open
ing markets across the Atlantic which
would test the effect of yesterdays
decision of the United States supreme
court declaring the Standard Oil COM
pdhy OF New Jersey an illegal monopoly.
Inc hrst news was reassuring although
apparently not unexpected. The fact
thaU the London stock market opened
but half a point to a point below yes
terdayS New York closing and quickly
strengthened on New York buying or
ders indicated that the decision had
been generally anticipated and showed
the quality of the overnight verdict
on the courts decision. Opinion SEEM
ed about equally divided as to how the
STANDARD Oil would meet the wishes
of the court.
In the absence of any official state
ment two plans were heard Of One
was the division of the present organi-
cation into several separate companies
each operating in it's own territory. An
other suggested the disintegration of
the subsidiaries of the parent company
and the formation of new corporation
which might acquire all the physical
property of these subsidiaries and is
sue new stock.
An argument advanced in support Of
this idea was that such reorganization
would be single company and not q
combination
London Was Prepared.
London May 16.-The supreme court
decision in the Standard Oil case crea-
ted surprisingly little interest or furry
in financial circles here as the result
had been generally anticipated. Deal
ings in stocks for some time past have
been on the bear side and in the hands
of continental and Wall street houses.
Brokers, therefore did not remain in
the financial district over night as in
times of crisis. Many brokers. how
ever, came to the city earlier than
usual and trading in American securi-
ties began an hour and a half before
the stock exchange opened.
Initial prices were from a half to d
full point below parity but buying or
ders from New York soon strengthen
ed values, and. with local traders COW
ering the market at IL o'clock ruled
firm and fairly active and from 1 to ,
points above the lowest and / to 11s
over yesterdays closing as follows:
Santa Fe 114A; Canadian Pacific 241a4;
Erie 3312; Southern Pacific 1883; u. P.
183$4; U. S. Steel IS.
Standard Will Obey.
New York, May 16-The first word
from the Standard Oil company on the
decision against it yesterday of the
United States supreme court came to-
day. 1t makes two points clear:
First, that there will be no contu-
macy ny lie COHipdily- purposes u
obey the decree and second, that it will
be some time before any plans of re-
organization are given out. The COM
pany has insisted throughout that no
plans had been formulated in advance
of the decree and the statement made
today by Mortimer F. Elliott general
solicitor for the company, takes the
same attitude.
He said:
Having only before us the press re-
ports of Chief Justice Whites oral opin-
ion and the remarks of Justice Harlan.
and not having yet seen the opinion
of the court in full, it is impossible to
make any lengthy statement. The full
opinion must be read and studied by
my associates and myself before it can
be intelligently dealt with.
1T may, however, be now said that
the Standard Oil company will obey the
decree of the court and that all the
companies embraced in the court de-
cree will carry on their business as
usual under the direction of their own
officers and through their own corpor-
ate organizations"