Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1911-12-05
OF the Leaf 7 ObaCCO Board
Of New York
For Permission 10 Review Re-
organization Plan Of Trust
Filed with Supreme court.-A De-
cision Expected, Monday.

Washington. Dec 4.-The supreme
court of the United States, today, took
under consideration the application of
the Leaf Tobacco Board of Trade of
New York to have that tribunal re-
view the reorganization plan of the
American Tobacco Co. y decision is
expected. next Monday. The govern
ment opposed the application.
The application for the petition was
made by Felix II. Levy representing
the Leaf Tobacco Board of Trade of
New York. which is composed of
about IS concerns engaged in the bus
mess of selling leaf tobacco to tobae
CO manufacturers. In the petition 1t
was stated that the attorneys general
OF Virginia, North Carolina and South
Carolina joined III the request for a
consideration by the Supreme Court
of the reorganization plan.
The petition asked that the United
States Circuit Court for Southern New
York be required to yacate it's recent
decree approving the reorganization of
the American Tobacco Company which
had been directed by the Supreme
court, in its opinion last May, to dis
integrate. Another prayer was that
the Circuit Court be directed TO send
the case to the Supreme Court for re-
view. and to allow the Board to inter
vene as a party to the suit which re-
suited in the dissolution decree of the
Supreme Court last May.
In support of the petition. brief had
been prepared for submission to the
court. In this brief, Mr.. Levy and his
associate, Benjamin n Cardeso. argued
that the decree of the Circuit Court
was not in conformity with the ST.
preme Courts mandate in the Tobacco
case The court was told in the brief
that the Attorney General of the
United States had announced that he
would not appeal from the circuit
court decree.
THE repugnancy between the de-
cree and the mandate must therefore
remain uneorreeted,n the attorneys
said. the decision of this court, de-
signed TO remedy a great public wrong
must be frustrated and the benefieent
results that should have followed from
it be forfeited, unless at the instance
of q citizen, whose interests are vital
lly affected. this court shall see 10 ii
that its commands are made effective
The foremost objection urged TO the
reorganization plan was that il resulted
in the division OF the stock OF the sew
eral corporations. into which the com
bination was divided. among the com
mon stock holders of the American To-
bacco Company with the result that
the very men who have been adjudged
BY this court to be illegdl eonspirators
are maintained and confirmed in their
ownership and control II was con-
tended that the common stockholders
should be prohibited from obtaining or
retaining control over the BUSINESS.
We do net ask that tRe defendants
be deprived of anything which they
new own" the brief continued: we
do not ask that single share now be-
longing to them be surrendered. We
merely ask that when the Tobacco
Company parts with the shares which
il owns, it be required 10 do so in such
a way as to prevent the conspiracy
from being perpetuated. If the court
may compel the chief corporate de-
PENDANT to break up the combination by
Riding itself Of its shares, it may COM
pei the individual defendants to break
lup the combination by refraining from
buying these shares
The Attorneys General of Virginia
North Carolina and South Carolina are
lquoted as saying that the reorganiza-
ton proposed. in substance, would eff
fleet a change iii the method of book
keeping. and nothing more.