The Detroit times., 1911-05-16
STOCK MARKET is
sTRONG DESPITE
OIL DECISION
General Advances Are In Order
Ranging From Fractions to More
Than Two Points-standard Oh
Unchanged On Curb.
Businessmen Say Ruling That on
Combine Must Dissolve Is Fair and
Should Stimulate Trade.

WASHINGTON, May TO-
Criminal prosecution Of the Of
hcials Of the Standard OH Co.
may follow the decision Of the
supreme court, Il was TODAY stat
ed by high government offscIai.
The matter will be taken up bv
tne attorney-generaI within the
next Few days. Possible obstacles
to prosecution confronts the gov
eminent, Il was stated, In the
statute OF limitations, under
which the oil trust officlals are
expected to claim Immunity. The
government, however, takes the
position that the combination
was a continuing offense up 20
the time II was ordered dis
solved.
NEW YORK, May 16.-The way
tne stock market contsrued the
standard Oil decision was shown In
the urgent demand for stocks at the
opening today. General advances
We're in order, ranging from frac-
tions to more than two-point gains.
Northern Pacific, Lehigh Valley.
Reading, Steel common and prefer
red were In great demand. Steel
common opened l rs higher as did
Consolidated gas and General Elec-
trio. Union Pacific sold $500 shares
at 179 and 179 IL as against last
nights close of 1T "a.
Standard Oil stock opened on the
Curb market with sales at 679 to
90 and In ten minutes was 675 bid
and $50 asked. 1t closed at these fig-
ures last night although the last
sale was at 679 "a. There was prac-
tically no stock offered for sale.
American Tobacco opened at 467
and AIS, but there were no sales.
The last sale last night was at 470.
In all only 110 shares OF Standard
Oil were dealt In during the first
fifteen minutes. This exhausted the
supply OF the stock available and
trading In 1t ceased for the time be-
ing.
One effect of the governments de-
cision In the Standard Oil case, and
the one In which the public will be
most vitally concerned will be, accord.
ing to business men here who have
read the decision, "a probable advance
in the price Of all oil products to the
ultimate consumer. The turning back
to the original companies of their
properties will not make any real
change In the ownership OF these con-
Germs, 1t Is pointed out. They will
still be Standard Oil properties al
though their stock will be distributed
among numerous shareholders instead
OF being In the strong boxes OF the
parent corporation. the Standard Oil
Co. OF New Jersey.
Whereas now many OF these con-
Germs are united under a general man
agement they will operate as distinct
concerns. Operating expenses will be
increased, while there will be no way
to compel actual competition among
the companies for trade. To meet the
expenses of individual operation. the
prices OF products Of the various COM
panies will necessarily have TO be gem
orally advanced, IL Is believed.
The modification OF the mandate OF
the lower court insofar as II affected
the individual stockholdings is likely
to have far reaching effect on the
oil business. While ostensibly there
will be separate oil companies in the
various markets, there is no mandate
OF the court which prohibits them
working along the lines now prevaI-
ent in the steel field. There gen
tleman's agreement" fixes prices ana.
while nothing is reduced to writing
the general trade is divided and q
dead line is fixed below which prices
are not permitted to go.