| Show Will AFFECT All CLASSES Business and Political World W orId Awaiting Decision of the Su Supreme Supreme Supreme preme Court in Standard Oil OilI and Tobacco Trust Cases CasesI I I I PRESIDENT STANDS BY HIS ANNUAL MESSAGE Will Not Be Swerved by Ru Rumors Rumors Rumors mors or Flurries or Other Manifestations of the Wall WallStreet WallStreet WallStreet Street Bulls and Bears ALDRICH AT WHITE HOUSE I Washington Feb 10 A confer conference conference I ence held at the White House last I night between President Taft and i iI Senator Aldrich is only the forerun forerunner I ner of others in the near future the outcome of which probably will be bethe bethe I the publication of a statement deal dealing dealing i I ing with the situation that is dis discussed discussed I cussed here wherever two or 01 three are gathered together yet which ap apparently apparently apparently I nobody thus far has deemed it prudent to make the subject of pub public lie lic utterance The situation relates relate to the P consequences consequence financial industrial and political hanging upon the tilt decisions of I Ithe I the supreme court of the United States in the cases ases ca ps of the American Tobacco j i company and amI the Standard Oil com coin company pany pan The immediate subject of last Ia t nights nl conference between the President and Mr Aldrich was the administrations proposed amendments to the interstate commerce law la but hut the effect of the supreme court decisions in the tobacco and oil cases cas were discussed also and will be further discussed on Monday Meanwhile the President will speak in New York Saturday night on the sub subject subJect it is said ld of ot Party Part Pledges and I How They Should Be Kept and ho he is attempting no concealment or modification modification modification cation of his intention to make the de decision decision elsion of the supreme court the guide of the governments gov further action in I regard to corporations charged with i violations of the Sherman antitrust law I Will Not Swerve Remakes p b all inquirers that I he lie has In nowise changed his of or I what in his message me gE to Congress he lIe I described dof as his duty dut to investigate the conduct of all trusts trust Mr Ir Taft says MY he I will not be swerved by ru rumors rumors mors molS or flurries or other manifestations in Wall street The Time general impression lon line hie is that the federal incorporation bill will not be passed at this session g slon All the till talk is favorable lo io If its substantial progress and Mr Ir Taft recently disclaimed d any an intention of attempting to force its passage package But yen cen if it were enacted d in its Continued on Page 6 COURT DECISION TO EfFECT All ClASSES Continued from Page One present form it offers offer in the opinion of members of Congress and of or corpora corporation corporation corporation tion men no material relief from the condition that hangs upon the decision in the antitrust cases The bill provides that it shall not be construed to create a shelter or immunity immunity immunity for any corporation that has vio Yio violated yb the Sherman law Nobody here shares what appears to have been the popular impression that the proposed federal incorporation act would afford relief to corporations di directly directly or indirectly threatened under a possible adverse decision of or the su supreme supreme supreme preme court Nor is other legislation contemplated that might relieve the tension Senator Aldrich said Mid today I can conceive of no legislation with within in the powers of congress that can meet this situation either in anticipation of ot the supreme courts decision or subsequent subsequent subsequent quent to it Unless perhaps the repeal of the Sherman law the questioner sug suggested suggested suggested The senator smiled grimly It was evident that he regarded that as outside the domain of possibilities As for the scope of antitrust cases before the supreme court here is what Attorney General Wickersham said in connection th his motion to advance the tho Standard Oil cases to Immediate hearing The tobacco case just argued and submitted to the court and the Stand Standard Standard Standard ard Oil case present to the court practically practically practically the entire range of modern in industrial industrial industrial organizations in this country and substantially every feature of the trust problem In so far as it itis itis itis is affected by b the tho Sherman act It has been the policy of the govern government government ment meat to select a few extreme instances of great combinations apparently con controlling controlling controlling trolling the greater part of trade and commerce In a particular line of indus industry Industry industry try and to make them tests of or the full meaning and application of the statute Importance of Standard OH Oil Case The Standard Oil case is the most im important important important of all these cases affecting as it does the widest range of combinations and contracts which may be claimed to offend against the act of congress Un Under under der these circumstances and as this act in its general scope affects an enormous number of business and Industrial organ organizations organizations throughout the country It Is of momentous public importance that this court shall define and apply the act in reference to this character of organization tion The proverbially delicate relation which the market Wall street and the financial world generally bear to the news and gossip of the three great branches of the government make moke It It superfluous to point out the effect which decisions of the supreme court In these cases will have in m the field of finance Almost pathetic Is the eagerness with which those here who are In communication with the mar market market ket hot clutch at every crumb of news or gossip on this subject Industrially as Mr Wickersham said to the court practically the whole scope of modern corporate organization is In one way or another Involved in these cases good trusts and bad trusts apparent apparently ly have a stake in the affair Effect on Politics If the court should sustain the judg judgments judgments ments meats of the courts below it might call for Industrial readjustments of ing effect Political leaders here closely reflecting the minds of leaders of Indus Industry Industry industry try express the tho more or less vague hope that the court should It sustain the gov government government government and be hostile to the defendant corporations will in handing down Its decision point out some measure of that relief which from any point of view ap appears appears appears pears outside the possible range of legis legislation legislation legislation lation Politically the consequences of a deci decision decision sion don either way must be momentous especially so to the majority party in the event of the defeat of the government If the trusts win and Congress Is s helpless to assist In the situation either way wa where are we at aU plaintively asked a Republican leader today This is the topic most discussed in Washington just now It Is the subject uppermost in every quarter It has thus far been discussed with the soft pedal on and as it were In whispers but lead leaders leaders leaders ers In Congress admitted today that it would be Impossible much longer to con confine confine confine fine It to private conversation It was discussed last night by the Pres President President ident blent and Senator Aldrich and will be further discussed next week The tobacco case has been set for argument argument ment meat March 14 The oil case has been ar argued argued argued gued and Is now new in the hands of the court CHILDS FINE FLOWERS Express the true valentine sentiment No 11 U South Main Maln |
