The New era-leader. (Wagner, Charles Mix County, S.D.) 1911-1912, 1911-12-15
In Cases Of Standard Oil and
tobacco Companies.
THINKS AMENDMENTS NEEDED
Believes Present Statutes Good % Far
40 They Go but Suggests supple
mental LegisIation-For Fed
eraI Corporation Law.

Washington, Dec. 6.-President
Taft's annual message, which was read
in both houses of congress today, deals
exclusively with the antitrust statute.
The full text Of the message is O. fol-
lows:
To the Senate and House OF Repre-
sentatives: This message 10 the first
Of several which / shall send to con-
gress during the interval between the
opening of its regular session and its
adjournment for the Christmas hoIi-
days. The amount of information to be
communicated as to the operations OF
the government. the number of impor-
tant subjects calling for comment BY
the executive, and the transmission to
congress Of exhaustive reports by spe-
.cial commissions, make Il impossible
to include In one message OF a reason
able length discussion OF the topics
that ought to be brought to the atten.
ton Of the national legislature at Its
first regular session.
The Antitrust Law-The Supreme
Court Decisions.
In May last the Supreme court hand
ed down decisions In the suits In
equity brought by the United States to
enjoin the further maintenance of the
Standard Oil trust and of the Ameri.
can Tobacco trust. and to secure their
dissolution. The decisions are epoch.
making and serve to advise the bust
nsss world authoritatively of the scope
and operation of the antitrust act OF
1880. 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 important deci-
sions by further defining the already
admitted exceptions to the literal con-
struction OF the act BY the DEGREES,
they furnish useful precedent az to
the proper method of dealing with the
capital and property Of Illegal trusts
These decisions suggest the need and
wisdom Of additional or supplemental
legislation to make II easier for the
entire business community to square
with the rule Of action and legality
thus finally established and to preserve
the benefit, freedom and spur OF rea-
sonable competition without loss Of
real efficiency or progress.
No Change In the Rule Of Decision
Merely In its Form OF Expression.
The statute In its flrst section de-
clares to be illegal every contract
combination In the form Of trust OF
otherwise, or conspiracy. In restraint
Of trade or commerce among the sev
| eral states or with foreign nations,
| and In the second, declares guilty Of Z
misdemeanor every person who shai
monopolize or attempt to monopolis<
or combine or conspire with any othel
person to monopolize any part Of thu
trade or commerce OF the severa
states or with foreign nations"
i In two early cases. where the statute
), was invoked to enjoin Transportation
agreement between interstate railroad
companies, It was held that II was NJ
defense to show that the agreement q,
to rates complained OF was reasona
at common law. because It was salt
that the statute was directed agains
all contracts and combinations In n
straint Of trade whether reasonal q
common law or not II was plain from
the record. however, that the contract
complained OF In those cases woul
not have been deemed reasonable Z
common law In subsequent cases th
court said that the statute should b
given reasonal construction and n
fused to include within IT. inhibition
certain contractual restraints Of trad
whteh + dominated a. incidental oraa
Indirect
These cases Of restraint of trade thu
the court excepted from the operati0
Cf the statute we're Instances which. {
common law. would haxA been calIe