The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-05-16

, stock of the other corporations in
exchange for its certificates gave to
the corporation an enlarged and more
perfect sway and control over the
trade and commerce in petroleum and
its products. The efYece of this, Chief
Justice White said the lower court
held was to destroy the potentially
OF competition" which otherwise
would have existed TO such an extent
as to be a combination or conspiracy
in restraint of trade In violation of
the first section of the act. and also
be an attempt to monopolize, and by
monopolization bring about a peren-
NAL violation of the second section.
Conclusions Accepted.
We see no cause to doubt the
correctness of these conclusions" said
the chief justice. considering the
subject from every aspect-thas Is.
both in view OF the facts established
by the record and the necessary ope-
ration and effect Of the law as we
have construed 1t upon the differences
deducible from the facts for the fol-
| lowing reasons:
| "A. Because the unitication Of pow
| er and control over petroleum and
Its products which was the inevitable
result OF the combining in the New
Jersey Corporation by the increase OF
| Its stock and the transfer to il OF
the stocks OF so many other corpora
I tons. aggregating so vast a capital.
gives rise. In and of itself, in the alb
sence OF countervaiIing circumstances
/ to say the least, TO the prima facfe
! presumption OF the Intent and pur-
! pose to maintain the dominancy over
/ the oil industry, not as result of
/. normal methods of Industrial devel-
I opment. but by new means OF combi-
! nation which were resorted to in
order that greater power might be
| added than would otherwise have
| arisen had normal methods been fol
| lowed. the whole with the purpose
| of excluding others from the trade
and thus centralizing In the comb
1 nation perpetual control Of the
( movements OF petroleum and its pro-
/ ducts in the channels OF interstate
! commerce.
| Presumption Conclusive.
| B--Because the prima facie pre-
sumption of intent to restrain trade
| to nenopolize and TO bring about
I monopoiization resulting from the act
/ of expanding the stock OF the New
| Jersey corporation and vesting IL with
such vast control of the OIL industry
/ is made conclusive by considering.
4
! corporations who were mainly fnstru-
mental in bringing about the extern
sion of power In the New jersey cor
poration before the contamination of
| that result and prior To the forma-
! ton OF the trust agreemnts of 1879
and 1922: second. BY considering the
I proof as to what was done under
| those agreements and the acts which
/ Inn mediately preceded the vesting OF
a. we'll as By weighing the modes ia
which the power vested ia that cor
poration has been exerted and the re-
suits which have arisen from it"
Trust Methods scored.
In suh1ecrfng to scrutiny the acts
| and doings OF the Standard OH Com
| pany In the long distant past for
the purpose of getting assistance in
discovering intent and purpose. Chief
Justice White made a cutting remark.
He said;
We think no disinterested mind
can survey the period In question
| without being irresistbly driven 10
the conclusion that the very genius for
commercial development and organl-
zatfon which II would seem was mani
Tested from the beginning soon begot
Ian intent and purpose to exclude 9TH
ers which was frequently manifested
4 by asSs stsslv lirags wholly ineesFa
sistent with the theory that they were
made with the single conception of
advancing the development of busi-
ness power by usual methods. but
which. on the contrary. necessarily
| involved the intent TO drive others
from the field and to exclude them
| from their right TO trade and thus
accomplish the mastery which was
the end in view.
Some Acts Reviewed.
| And. considering the period from
the date OF the trust agreemnts OF
1870 and 1851, UP TO the time OF the
expansion of the New Jersay corpora
ton. the gradual extension of the
power over the commerce in oil which
ensued, the decision of the supreme
court of Ohio. the tardiness or reluc-
tance in conforming to the commands
OF that decision, the method first
adopted and that which finally cul-
minated in the plan OF the New Jersey
corporation. all additionally serve to
make manifest the continued existence
OF the intent which we have previous
ly indicated and which among other
things impelled the expansion of the
New Jersey Corporation. The exer-
else of the power which resulted from
that organization fortifies the fore
going conclusions, since the develop
ment which came the acquisition here
and there which ensued OF every eff
cient means by which competition
could have been asserted, the slow
but resistless methods which follow
ed by which means Of transportation
were absorbed and brought under
control, the system of marketing
which was adopted by which the
country was divided into districts and
the trade In each district In oil was
turned over to designated corpora
ton within the combination and all
others were excluded. all lead the
mind up to conviction OF purpose
and intent which. we think, Is SC
certain as practically to cause the sub
1Jecf nor 10 BE within the domain 81
reasonable contention.