The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1911-05-16

NEW YORK, May 16-Insertion OF
the words Unreasonable Combine
lions In the Sherman antitrust law
Dy the united States supreme court
Drought delight to all persons inter-
ested In the stock market today with
the result that after weeks Of lethargy
the exchange took on much activity.
AS an indication OF the satisfactiou
ieit by those most directly concerned
IL was stated by all of the big broker
age firms that they were flooded with
buying orders long before the regular
hour for the opening.
The concerns with international con-
nections remained open all night and
were heavy buyers on the London.
Paris and Berlin bourses long before
trading was possible here. The result
was generally strong tone here ana
the leading issues, notably steel. the
Hartman shares and Reading made
decided gains.
There was difference of opinion a.
TO whether the boom was spasmodic
or really marked the start OF 4 big
year in stocks. The most noticeable
thing on the floor Of the exchange was
the small amount of actual stock be-
ing hawked.
On the curb market there was some
excitement at the opening. but 1t was
snorthyed There was no tobacco
STOCK offered at all in the early hours
while the trading on the Standard Oh
stock was confined to 110 shares which
were disposed Of at figures that aver
aged more than three points abovo
last nights close. 1t was generally
agreed that as result OF the decision
the stock would be even more valuable
In the future after the reorganization
plans are completed and announced.
There had been an undercurrent OF
feeling that the decision might be OF
such nature as to force the steel
trust and some OF the large combina-
tons to re-organize
After inspecting he text of the man.
date, Judge Gary, chairman of the
board of the steel trust and Daniel
Guggenheim, head OF the smelter
trust, issued statements that their
companies would not be interfered
with. The result was a strong tone
in these market leaders.
Generally summing up the decision
market brokers said that while the
government undoubtedly won q not
able victory, the effect OF the decision
would be to continue combinations
within well defined limits and the fear I
OF continued litigation was now en-
tirely done away with.
The Standard Oil Co. will obey the
decree OF the supreme court. This
was the statement today OF M. +. e.
liott, chief counsel of the company.
mot having yet seen the opinio
OF the court in full he said "It N
impossible to make any lengthy stat f
ment The full opinion must be read +
and studied by my associates and my
self before ii can be intelligently dealt
with. IL may now be said, however,
that the Standard Oil Co. Will obey
the decree of the court and that all the
companies embraced in the courts de-
cree will carry on their business as =
usual under the direction of their own
officers"
One effect OF the governments de-
cision in the Standard Oil case, and
the one In which the public will be
most vitality 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, II is pointed out. They will
still be Standard Oil properties al
though their stock will be dfstributed
among numerous shareholders. instead
OF being in the strong boxes Of the
parent corporation. the Standard on
Co. of New Jersey.
Whereas now many OF these con-
Germs are united under a general man
agement they will operate as distinct