OCR Text |
Show TRUSTS 'TOT GO," An Important Decision Delivered by the Supreme Court of Ohio This llornine;. The Standard Oil Company Enjoined From Fulfilling Any of Its Trust Agreements. ITS RIGHT TO MAKE THEM Is Denied by the Court Together With the Power of the Company to Perform the Same, T. CORPORATE POWERS m in All Other l'.espects Are, However, Left Intact A Similar Suit Will at Once be Entered by the Attorney-General of New York. Coi.CMHfs, Ohio, Mareh 1. The supreme court of Ohio in the case of Attorney-General Watson vs. The Standard Oil company, handed down a decision today, of import ance concerning trust. This case was instituted by petition Inquo warranto, to oust the company sroni its corporate rights and to forfeit its franchise. The judgment of the court is to oust the compaufrjui the, right to make, trust agree-mantS'set agree-mantS'set fortli in petition ami of the power to perform same. This is all the attorney general desired. He had no animosity toward the company and did tot desire to deprive it of its corporate corpor-ate rights as enjoyed by others, but of the trust agreements which were contrary to law. Under tke decision the company will be allowed to continue its corporate powers. The decision of the supreme court sustains the attorney-general's demurrer to the answer of the Standard, which set up a defense de-fense that the trust agreement was entered into by individuals and not by the company as a corporation holding a franchise. While the decision does not oust the com-pany'from com-pany'from its franchise it prohibits it from continuing to carry out or fulfill any provisions pro-visions or agreements under the trust contract. con-tract. The attorney-general of New York lias papers pa-pers ready to Hie against the Standard in that state, prepared in contemplation of this decision. |