New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-05-17

corporation managers hoped it would DO
point out some path for corporations 10
follow. II did not tell them clearly how
far they could go in the matter OF inter-
state commerce and keep within the law
We shall have 10 wait to see what the
government does. Much depends upon
the attitude of the administration. am
in waiting attitude. and had rather not
express an opinion to-day which l might
have to take back tomorrow. II might
have been worse. though. II Justice
Harlans views had been followed by tae
majority Of the court we should not
have known what to do
De Forest Praises Chief Justice.
Robert W. de Forest who has repre-
scented the coal roads in the government
proceedings against them, had TINS
statement to make about the effect OF
the Standard Oil decision:
Chief Justice White has risen to the oc..
casion as those who know him expected
he would. His opinion. with his historic
statement or the development oil the com,
mon law regarding restraint OF trade ana
combinations. clarifies the situation IN large
degree, and in connection with the form o.
decree in the Standard Oil case. which sun
remains 10 be drawn. and the decision IN
the tobacco case which will evidently soon
be rendered. will furnish a guide which
expectant business has been awaiting VII"
anxiety.
General Thomas n Hubbard. presl-
dent of the international Banking Cor
poratio and an officer and director OF
railroad and industrial companies, con-
sidered the decision sensible one as re-
CARDS its distinction between reason
able" and unreasonable combinations.
but he regarded the Standard Oil Com
pany as a reasonable" combination.
For that matter. he thought most of the
combinations of capital in the country
reasonable within the meaning of the
Supreme Courts Interpretation.
Another influential banker. in express
ing the general feeling Of relief that a
decision had finally been given in the
Standard Oil case. and that with the
handing down of the Tobacco decision.
commonly expected for a week from
next Monday. the tension long felt by
DlSlUtSS NpulNl bc lCIACNtNs NAEiN1'NN '--N
qualification, in the interest of the busl-
ness world at large. that the court had
given its sanction TO the principle of
reasonable" restriction Of competition
and added that il appeared TO him much
better for corporations TO have govern
inent regulation than 10 he subjected
to attacks by politicians, and thus that
federal Incorporation might be the policy
which would be adopted generally by
corpora lions. The decision had been well
received in Europe. he continued, for
Europe vas accustomed 20 government
regulation. and so the decision was
bull argument there or American Issues
A B. Hepburn chairman Of the board
Of the Chase National Bank and presi-
dent of the Chamber If Commerce. SAID:
1T dissipates the cloud that has been
hanging over the business of the coun-
try, and enables commerce and the own
ers Of corporate securities 10 breathe a
sigh Of relief It is Just, as it reads the
word 'reasocab BILE into the law, and we
are all in favor of what is reasonable
| believe it's effect on the business Of the
country will be perfectly satisfactory.