The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1911-07-08
Victor Murdoch Says Business
World Waits on Judges.
Property of the Tobacco Trust
Must Be Saved.
HE PREDICTS VICTORY
Kansas Congressman Declares
Reciprocity Bill Will Pass.
Direct Election of Senator's
Measure Will Be Adopted.

Wichita. Kan. July SIN a state
ment given out on his return from
Washington, Victor Murdock, the red
headed insurgent congressman, pre-
diets a long extra session. He says the
direct election of senators and reel
procity measures win pass.
Kansas, according to the congress-
man, has a better chance for crops
than some of the eastern sections
through which he passed on his way
home. He will return to Washington
soon.
zone Of the curious things of the
times to my notion" said Mr.. Muir
dock, sis that the four men who loom
largest on Wall streets imagination,
and consequently on the world at this
moment, bear names com parauvely
strange to all of us. These man are
Mr.. Coke Mr.. La Comb. MI Noyes and
Mr.. Ward. While very few of us who
vote and take an interest in public af-
fairs ever heard of thise gentlemen.
there is not an Office boy on Wall
street who does not know who they
are. They are federal judges, and they
are to write virtually the trust law.
II was in New York one day last
week, and the way in which the bust
ness world is studying the habits CT
mind and former decisions of these
Judges is decidedly interesting. When
Tobacco trust, it assigned to these
Judges the task Of prescribing the plan
by which the Tobacco trust is to be re-
organized.
There are 1900 holding companies
In the United States. employing the
very highest legal talent who are IN
able apparently to discover whether
they are liable to prosecution under
the Sherman antitrust law or not.
These four men, in arranging plan
for the Tobacco trust. will be giving
the organizations something they have
been unable to obtain.
mo one seems to be able to guess
what the judges will do. Everybody
concerned recognizes that their action
IS of the utmost Importance, far sur
passing in real moment the decision
of the supreme court itself.
Must save Property.
under the rule of the courts, which
stand for the protection of the inno-
cent investor, and put the emphasis on
property value even when the value is
based upon partial monopoly. the pro-
perty of the Tobacco Trust cannot
be thrown into the sea. 1t is real
thing, tangible, visible, and it Is up 10
the court to do something with it.
1.-THE Sugar Trust was once found IL
legal and was ordered sold by the
court. The owners Of the condemned
trust placed their trust certificates in
the hands of a broker who attended
the sale and bought the Sugar Trust
for them. It is still the Sugar Trust
II y
pened in the case Of the Tobacco Trust
and under a plan devised by these four
Judges, would seem to leave the nation
helpless in the matter Of regulating
trusts through civil suits.
ssThere does not seem to be any gen
eral belief down in New York that tbe
four Judges will do anything Of an ex-
IRENE nature. But no one really knows
what they are going to do. Put the
plan that they are to evolve is the
one thing Wall street is waiting for
and in Importance is placed anOvs the
action of congress, the president, OF
any Of the other courts.
'sIf the four judges should In devisine
a plan, go as far as Justice Harlan
accusing the supreme court Of going
towit. of legislating, 1 would not be q
bit surprised to see their judicial &C
ton challenged in some way by con
rress. The big illegal interests Of this
country are not backing a step; they
are fighting over every inch of the
ground. and I believe that the people
will show themselves deadly in earn
est through their congress in meeting
trust bullheadedness.
1.-THE fight has only opened. Reel
procity win pass overwhelmingly. 81
win the bill for the popular electicr
Of senator's -