davidaulloa/AmericanStories huggingface dataset:
Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-12-05
New Federal Corporation
Commission Plan Is Proposed.

| do not set forth in detail the terms
and sections of a statute which might
supply the constructive legislation per-
hitting and aiding the formation of
combinations of capital into Federal
corporations. They should be subject
to rigid rules as to their organization
and procedure, including effective pub
Iieity, and to the closest supervision as
to the issue of stock and bonds by an
executive bureau or commission in the
Department of Commerce and LABOR,
to which i'm times of doubt they might
well submit their proposed plans for
future business. 1t must be distinctly
understood that incorporation under a
Federal law could not exempt the conf
pany thus formed and its incorporators
and from prosecution under
the antitrust law for subsequent IL
legal conduct, but the publicity of its
procedure and the opportunity for fire.
quent consultation with the bureau or
commission in charge of the incorpora
ton as to the legitimate purpose OF It's
transactions would offer 1t as great
security against successful prosecu-
lions for violations of the law as would
be practical or wise.
Such a bureau or commission might
well be invested also with the duty
already referred to of aiding courts
in the dissolution and recreation OF
trusts within the law. 1t should be al
executive tribunal of the dignity ano
power oil ths Comptroller of the Cur
| rency or the Interstate Commerce Com
mission, which now exercise supervisory
Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-12-05
Standard Oil Case Monopoly
of Interstate Importance.

In the Standard Oil case the Supreme
and Circuit courts found the combina-
ton TO be a monopoly of the interstate
business of refining, transporting, and
marketing petroleum and its products,
effected and maintained through thir-
ty-seven different corporations, the
stock of which was held by a New Jer-
sey company. x : =
In the Tobacco case, the court found
that the individual defendants, twenty
nine III number, had been engaged in
a scccessful effort to acquire complete
dominion over the manufacture, sale,
and distribution of tobacco in this
country and abroad, and that this had
been done by combinations made with
a purpose and effect to stifle competi-
ton, control prices, and establish a
monopoly. not only in the manufacture
of tobacco, but also of tin-foil and
~licorice used in its manufacture and
of its products of cigars, cigarettes,
and snuffs. The tobacco suit presented
a far more complicated and difficult
case thar the Standard Oil suit for a
decree which would effectuate the will
of the court and end the violation of
the statute. There vas here no single
holding company as in the case of the
Standard OIL Trust. The main company
was the American Tobacco Company,
a manufacturing, selling, and holding
company. The plan adopted to destroy
the combination and restore competi-
ton involved the redivision of the cap
ital and plants of the whole trust be-
tween some of the companies consti-
tuting the trust and new companies or
ganized for the purposes of the decree
and made parties to it, and numbering.
new and old, fourteen.
Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-12-05
Speaks of Importance OF
Sherman Antitrust Act.

The antitrust act is the expression
of the effort of a freedom-loying peo-
pie to preserve equality of opportunity.
1t is the result of the confident deter
mination of such a people to maintain
their future growth by preserving un-
controlled and unrestricted the enter
prise of the individual, his industry,
his ingenuity, his intelligence, and his
Independent courage.
For twenty years or more this statute
has been upon the statute book. All
knew its general purpose and approved,
Many of its violators were cynical over
its assumed impotence. 1t seemed i'm
possible of enforcement. Slowly the
mills of the courts ground, and only
gradually did the majesty of the law
assert itself. Many of its statesmen
authors died before it became a living
force, and they n others saw the
evil grow which they had hoped to
destroy. Now its efficacy is seen; nov
its power is heavy; o its object Is
real achievement. Now we heal the
call for its repeal on the plea that 1t
interferes with business prosperity. and
we are advised in most general terms
how by some other statute and in
some other way the evil we are just
stamping out can be cured, If we only
abandon this work of twenty years
and try another experiment for an
other term of years.
1t is said that the act has not done
good. Can this be said in the face of
the effect of the Northern Securities
decree? That decree was in no way SO
drastic or inhibitive in detail as either
the Standard Oil decree or the Tobacco
decree; but did it not stop for all time
the then powerful movement toward
the control of all the railroads of the
country in a single hand? Such a one
man power could not have been a
healthful influence in the republic,
even though exercised under the gen
eral supervision of an interstate COM
mission.
Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-12-05
Review of Tobacco Situation
After REIMBURSEMENT Was Made.

The American Tobacco COMPANY
(old), readjusted capital, s92, 600. 900;
the Liggett & Meyers Tobacco Com
pany new), capital, $751; 0o, 900; the p.
Lorillard Company (new), capital, $47,-
900, 000. n the r. j. Reynolds To-
bacco Company (old), capital, $7,525, 900,
are chiefly engaged in the manufacture
and sale of chewing and smoking to-
bacco and cigars. The former one tin
foil company is divided into two, one
of $751;. 900 capital and the other of $400,
900. The II snuff company is divided
into three companies, one with a capt.
tai of SIS, 000, 900, another with a capt.
tai of $4,000, 900, and a third with a
capital of 5000, 900. The licorice com
panies are Two, one with a capital of
So. 75S, 300 and another with a capital
of $1,000. GOO. There is also the British l.
American Tobacco Company. a British
corporation. doing business abroad
with a capital of SIC, 900, 900; the Porto
Rican Tobacco Company, with a capt
tai of 81 500, 900, and the corporation
of United Cigar Stores. with a capt.
tai of SO, 000, 900.
Under this arrangement each of the
different kinds of business will be dis
- ~ NJ VI nv OAi
panies with a division OF the promi-
nent brands in the same tobacco prod
ucts. so as to make competition not
only possible but necessary. Thus the
smoking tobacco business of the coun-
try is divided so that the present indie
pendent companies have 21.39 per cent.
while the American Tobacco Company
will nave 33.0S per cent. the Liggett &
Meyers 20.05 per cent, the Lorillard
'olnpany 22.S2 per cent. and the Rey-
Odds Company 2.66 per cent. The stock
the other thirteen companies, both
teferred and common, has been taken
rom the defendant American Tobacco
'0mpany and has been distributed
among its stockholders. All covenants
restricting competition have been de-
clared null and further performance
If them has beer enjoined. The pre-
tered stock of the different com
panles has now been given voting
power which was denied it under the
old organization. The ratio of the pre-
ferred stock to the common was as IS
to 30. This constitutes a very decided
change in the character of the n
ship n control of each company.
In the original suit there were TWEEN
tN-nine defendants who were charged
With being the conspirators through
whom the Illegal combination acquired
and exercised its unlawful dominion
Under the decree these defendants viii
hold amounts of stock in the various
distributee companies ranging from Il
per cent. as a maximum to 2S11 pei
cent. as a minimum, except in the case
OF one small company, the Porto Ricar
Tobacco Company, in which they viii
hold as peri cent.
Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-12-05
The Anti Trust Law and
Supreme Court Decisions.

In May last the Supreme Court hand
ed down decisions in the suits in equity
brought by the United states to en-
Join the further maintenance of the
Standard Oil Trust and of the Amer
Jean Tobacco Trust. and to secure their
dissolution. The decisions are epoch
making and serve to advise the bust
ness world authoritat' ely of the scope
and operation of the antitrust act of
1890 The decisions do not depart IN
any substantial way from the previous
decisions Of the court in constituting
and applying this important statute
but they clarity those decisions by fur
Their defining IT, already admitted eN-
ecptions To the literal construction OF
the act. BY the DEGREES. they furnish
Il useful precedent AS To the proper
method of dealing with the capital and
property Of Illegal trusts. These deci-
sions suggest the need and wisdom of
additional or supplemental legislation
10 make t easier for the entire business
community to square with the rule of
actioa and legality thus finally estab-
iisIied and to preserve the henef1t. free
dom. and sIIir of ~reasonab competi-
ton without loss of real efficiency or
pr0gftss.
Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-12-05
Objection Made to Size of
Companies BY the Independents.

Objection was made by certain indie
pendent tobacco companies that this
settlement was unjust because it left
companies with very large capital In
active business. and that the settle
mcnt that would be effective to put all
on an equality would be a division of
the capital and plant of the trust into
small fractions in amount more nearly
equal to that of each of the i~ndepend-
cnt companies. This contention results
from a misunderstanding of h anti
trust law and its purpose. 1t is not
intended thereby to prevent the accu-
mutation of large capital in business
enterprises il which such a combina-
ton can secure reduced cost of pro-
duction. sale n distribution. 1t is
directed against such an aggregation
of capital only when its purpose Is
that of sitting competition, enhane-
ing or controlling prices and establish
ing a monopoly. If we shall have by
the decree defeated these purposes anc
restored competition between the largo
units into which the capital and plant
have BEEN diyi6ed, we shall have af7
Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-12-05
TAFT DEFENDS SHERMAN ACT
CONTINUED from First Page,


seven and one-half years, and thirty
seven so far in the Taft administra-
lion
The President frequently expresses
tersely his opinion of the Sherman
law ana what might be expected if it
were to be repealed. He says:
THE antitrust act is the expression
of the effort of a freedom-loVing peo-
pie 70 preserve equality of oppor-
tunity.
This statute as construed by the
Supreme Court must continue TO be the
line of distinction for legitimate ousl-
ness. Ii must be enforced unless We
are to Danish i~ndividualism from all
business.
Mere size is no sin against tie law
Much is said of the repeal of TINS
statute and of constructive legislation
Intended to accomplish the purpose ana
blaze a clear path for honest merchants
and business men to follow. 1t may
be that such a plan will be evolved, pul
submit thai the discussions which
have been brought iii recent Gays oy
The fear of continued execution OF the
antitrust law have produced nothing
but glittering generalities.
As the offense against the Sher-
man law) becomes better understood
and the committing of it partakes more
of studied and deliberate defiance o.
the law. we can be confident that
inries Will convict individuals and that
iail sentences will be imposed.
The tempt to find a line within
which monopolies and illegal comblna-
lions might exercise moderate powee
and be supported by the courts, MI
Taft pointed out, has failed.
THEORISTS and others engaged IN
business violating the statute, he SAID.
have hoped that some such line Would
be drawn by the courts, but no court
of authority has yer attempted 1t.
TT is not the purpose of the statute
to eonfiscate the property and capltal
Of the offending trusts
The message in part follows:
Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-12-05
PATERSON, n. J., WOMAN
MAKES STARTLING
STATEMENT
Says Resinol is Worth Its
Weight in Gold

No telling what this woman has used
Res.nol for. Whatever it is, 1t has
proven most eficacious to call forth
such an unequivocal statement as this:
"Resinol Ointment Is marvellous. 1t
acts almost instantly, and is worth Its
weight in gold.
MRS. {. r.. GILMAN, Paterson, n. j."
Resinol is a reliable remedy for every
skin irritation. trouble or disease,
whether 1t be the accidental scald or
burn. the common cut or sore, or some-
thing more serious. like a felon, the
c%arbuncle. infiamed piles, eczema. FROST
bites, boils, chilblains, pimples, chaps
or eruption from poison ivy or any
other irritating. trouble or disease OF
the skin Its quick application will
remove much suffering. Resinol Soap
is recognized as the great STANDARD
health soap of the world. 1t Is medic
inal and antiseptic, soothing and re-
freshing. 1t cannot irritate the skin,
not even that of the infastt: prevents
the falling out of hair, is Indispensable
for shampooing. Its continuous use
wards off most of the skin troubles.
The ointment and soap are for sale
by all druggists, or if free trial Is de-
sired write for sample to Department
SO. Reslnol Chemical Co. Baltimore Md.
Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-12-05

Do we desire to make such ruthless
combinations and monopolies lawful?
When all energies are directed, not
toward the reduction of the cost of pro-
duction for the public benefit by a
healthful competition. but toward new
ways and means for making permanent
in a few han6s the absolute control of
the conditions and prices prevailing in
the whole field of industry. her indi-
vidual enterprise and effort viii be par
alyzed and the spirit of commercial
freedom will he dead
Isl Sned) VIM. Fl. TAFT.
The White House, December ), 1911.
Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-12-05
Need Supplemental Legislation
Not Repeal or Amendment.

see no o-bjection-and indeed | can
see decided advantages-in the enact
ment of a law which shall describe II
denounee methods of competition
which are unfair and are badges of the
unlawful purpose denounced in the
antitrust law. The attempt and pur-
pose to suppress a competitor by
underselling him at a price so unproft-
able as to drive him out of business.
or the making of exclusive contracts
with customers under which they are
required to give up association with
other manufacturers, and numerous
kindred methods for sitting competition
and effecting monopoly should be de-
| scribed with sufficient accuracy in a
criminal statute on the one hand to
enable h government to shorten its
task by prosecuting single misde-
meanors instead of an entire con-
spiracy. and. on the other hand, to
serve the purpose of pointing out more
in detail to the business community
what must he avoided.
The Ire ting of the DEGREES in the
dissolution of the present trusts, with
a view to their organization into legltl-
mate corporations. has made it espec1-
ally apparent that the courts are not
provided with the administrative ma
chinery to make the necessary inquiries
preparatory to reorganization, or TO
pursue such inquiries. and they should
be empowered to invoke the aid of the
Bureau of Corporations in determining
the suitable reorganization of the dis
integral parts. The circuit court and
the encouragement were greatly aided
in framing the decree in the tobacco
trust dissolution by an expert from the
Burea of Corporations.
Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-12-05
Voluntary Reorganizations
of Other Trusts at Hand.

The effect of these W. decisions has
led to DEGREES dissolVing the combina-
ton of manufacturers of electric lamps,
a Southern wholesale grocers' associa-
ton, an ~interlocutory decree against
the Powder Trust with directions by
the Circuit Court compelling dissolu-
ton, and other combinations of a sim
liar history are now negotiating with
the department of justice looking to
a d~isintegration by decree and reor-
g~anization in accordance With law. 1t
seems possible to bring about these
congratulations without general bust
ness disturbance.
But now the antitrust act is seen
to be effective for the accomplishment
of the purpose of its enactment, we
are met by a cry from many different
quarters for its repeal. 1t is said TO
be obstructive of business progress.
to be an attempt to restore old-fash-
toned methods of destructive competi-
ton between small units, and to make
impossible those useful combinations of
capital and the reduction of the cost
of production that are essential to con-
tinued prosperity and normal growth.
= = i
Mere size is no sin against the law.
The merging of two or more business
plants necessarily eliminates competi-
ton between the units thus combined,
but this elimination is in c%ontraven-
ton of the statute only when the COM
bination is made for purpose of ending
this particular competition in order to
secure control of. and enhance, prices
and create a monopoly. s. " = =
Much is said of the repeal of this
statute and of constructive legislation
intended to accomplish the purpose
and blaze a clear path for honest mer-
chants and business men to follow. II
may be that such a plan will be
evolved. but I submit that the discus
sions which have been brought out IN
recent days by the fear of the con-
tinued execution of the antitrust law
have produced nothing but glitterine
generalities and have offered no line
of distinction or rule of action as def
mite and as clear as that which the
Supreme Court itself lays down in en-
forcing the statute.
Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-12-05
complished the useful purpose of the

complished the useful purpose of the
statute.
Tt is not the purpose of the statute
to eonfiscate the property and capital
of the offending trusts. Methods OF
punishment by fine or Imprisonment
of the individual offenders, by fine of
the corporation or by forfeiture of it's
goods in transportation, are provided,
but the proceeding in equity is a spe-
cihc remedy to stop the operation of
the trust by injunction and prevent
the future use of the plant and capital
in violation of the statute.
I venture to say that not in the his
tory of American law has a decree
more effective for such a purpose been
entered by a court than that against
the Tobacco Trust, + = .
Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-12-05
PERKINS URGES FEDERAL
CORPORATION REGULATION.

YOUNGSTOWN. o.. Dec. Speak
ing before the Youngstown Chamber
of Commerce. George w. Perkins,
former partner of ]. Pierpont Morgan,
declared for government regulation of
corporations and the establishment OF
a Federal commission to pass on ques-
tons arising under regulation. He
pleaded for legislation hat would
strengthen the Sherman law by maxi
ing clear that guilt Is personal and
should be punishable by a jail sentence.
Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-12-05

ing, but juries have felt averse to con-
yicting for jail sentences, and judges
have been most reluctant to impose
such sentences on men of respectable
standing in society whose offense has
been regarded as merely statutory.
Still. as the offense become better un-
derstood and the committing of it par
takes more of studied and deliberate
defiance of the law. we can be conf
len that jurles will convict individu-
ais and that Jail sentences will be i'm
nosed
Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-12-05
AUTOPSY ON MAN KILLED BY FALL

An autopsy will be performed today
by County Physician Mckenzie upon
the body of Dennis Mccarthy, 81 years
old, of Phjllipsburg, Pa, who was in
stantly killed when he fell from the
fourth story of the new Bamberger
building upon which he was working
yesterday. at Market and Halsey
streets. Arrangements are being made
for the funeral.
Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-12-05
LONG RUN TO SMALL FIRE.

An o~verheated furnace caused a
small blaze in the j%apanning room of
the Atha Steel Company. foot of
Chapel street, last night, and gave the
fire engines a long run. The damage
amounted to $25.
Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-12-05
EXPLAIN LIABILITY INSURANCE.

At a meeting of the Manufacturers
Association of New Jersey at the
Board of Trade rooms on Friday after
noon at 3 o'clock a detailed explana-
ton of liza bility insurance will be given.
Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-12-05
sIuTAN,s JEWELS SELL HIGH.

PARIS, Dec. 1.-The sale of the jew
els of Abdul Hamid II, ex-sultan OF
Turkey, was continued yesterday at
the Hotel Druot. Twenty-eight lots
were disposed of for $32, 535.
Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-12-05

power over important classes of cor
porations under Federal regulation.
Il Il
Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-12-05

inhibition, Ger ain c%ontractual restraints
of trade which it denominated as IN
cidental or as Indirect.
The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1911-01-02
THE CRESCENT.
Legend Of lie Adoption as an E-bsc-i
by the Turks.

Legend Of lie Adoption as an E-bsc-
by .h> Turks.
The crescent has been known since
time out of memory. La ancient Ily.
theology 1t decorated the fo-eacads Of
Diana and of Astnrte. the Syrian We
nus. In the days OF Tones greatest
glory the ladies wore it as an orna-
ment in their hair.
Since the foundation Of CONSTANT
nople, the ancient Br-ant.uln. It has
been the emblem OF the city and as
such auorEs its walls and public build
ings. besides being stamped on its
coins and postage. The legend which
accounts for its universal adoption in
Turkey, and Censtantinople in par
ticular, is as follows:
Philip of Maceion laid siege to the
city in the year $40 b. {. He chose a
night Of unusual darkness for tho pro-
posed assault. but was foiied by the
moon suddenly breaking from behind
q cloud. In commemoration OF this
providential delive.ance the crescent
was adopted as the symbol OF the city.
The Mohaamedan suItaas were slow
to assume this emblem until some one
mentioned that 1t WINS the symbol OF
Increasing greatness. power changing
as rapidly IS the phases of the moon.
Westminster Gazette.
The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1911-01-02
Get Rid of
Rheumatism
It's an Easy Matter with Rheuma, the
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Guarantees,

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Here's real proof:
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Remember that l.. II. Fihe things
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Price so cts. Mailed by Rheuma Co,
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Bad stomach means pimples and
blotches. Bure both with English
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