The Washington herald., 1916-03-14
CAN DECISION
Wins APPLAUSE
Business Interests Regard the
New Precedent Set Highly
Beneficial to Country.
REGULATES EFFECTIVELY
Copper Earnings of Many Corporations
Pile Up at Unusual Rate Into
Enormous Surpluses.

What is considered by the business in
terests OF this country as one of the
wisest decisions to come out from all the
entanglements of the Sherman antitrust
law contest was that OF the United States
District Court in New York in the gov
ernment's suit to dissolve the American
Can Company. The court held that it
could dissolve that company but would
not do so. Instead, 1t retained the bill
filed against the company and stated
that IL at any time the company should
act in any way to justify or require ac-
ton of the court. 1t saw no reason why
the government should not then get the
relief to which it should be entitled.
This case is dwelt upon in the weekly
review of trade of ]. S. Bache G. Co.,
New York brokers. who state that the at
titude of this court might we'll be as
sumed by the United States government,
through the office of the Attorney Cen
eral, in regard to all actions now pend
ing against the great industrial plants of
this country. It asserts that the attitude
of the government should be one of wise
regulation instead OF vengeance, and that
the government should foster and encour-
age the growth of great facilities and
large capital.
should Regulate Not Destroy.
The judge who delivered the opinion on
the American Can Company case stated {:
In this industry 1t is absolutely i'm
possible to put things back where
they were on the first of March, 1901 !;
and If it were possible. probably high
y undesirable. The record shows
that there are many ways in which a
large and strong can maker can serve
the trade and a small one cannot. Per
haps 1t did not require much testi-
mony to show that he who is rich and
strong has more ability to serve than
he who is poor and weak; provided
always that there is an equal wish to
do so. l am frankly reluctant to de-
stroy so finely adjusted an industrial
machine as the record shows the de-
PENDANT to be-"
The BaChe review states that a SINH
lar attitude might well be taken in the
New Haven case, since the Massachu-
sets Public Service Commission has
reported to the Legislature that this
railway is a vital part of its commu-
nifty and that nothing should be done
to cripple the company. The commits
sion ruled that the railroad company
could properly retain interest in it's
steamship lines provided the consent
of the Interstate Commerce Commits
sion could be secured. and favored the
retention also of interest in all con-
trolled companies, except the Rutland.
1t suggested that Federal incorpora-
ton deserves serious study, as this
would cut it loose from the three in
consistent state charters in Masachu-
sets, Connecticut and Rhode Island.
Copper Earnings Pile Up.
Enormous consumption Of copper is
taking place. with every prospect of
its continuing, states the review. De-
mands for the metal from both at
home and abroad are so heavy that
copper is bringing from eleven to
twelve cents a pound more than it did
one year ago. This means benefit for
shareholders in copper companies. The
Wall Street Journal asserts that ali
the porphyry companies have not for
mally considered as yet any increases
to their disbursements. Kennecott
Copper is piling up cash at a rapid
rate, states the Journal, and is I'M
deTstood to have an annual rate of in
come Of more than S40,OOO.O0O a year
from AL sources. Anaconda this year
will earn about $5O.OOO,OOO, and since
this company is paying but Sc a share
annually in dividends, it will prob
ably have s36,OOO.OOO in surplus at the
close of the year. Utah. Butte & Su-
perior. American Zinc, and Chino cop
pers are in an enviable position with
millions of dollars in the treasures
Coppers now are considered as be-
ing about the best purchases on the
list for the speculator, says the Bache
Review.