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MtKMtNl SUES MM GOAL TRUSTAction Aimed at Reading Co.and Aliied lntr3CKHAS RI8I0 BiSSCLUTiON PUNViolation of Sherman Anti-Trust Law and Commod.ties Clause of Inter-State Commerce Act Is Alleged.Philadelphia, Sept \—The federal rtwtnnioir h*»«s renewed its attack on) the so-called anthracite trust. A suit filed heie against the Reading and its a.Tihated companies, under the Sherman anti trust law and the commodities clause, lenresents an effort on the the part ol the Wilson administrat on to take up this .ight where it was drooped upon the letirement of President Tail and his attorney general.'there is, however, one feature that distinguishes this suit from the oner; brought under the Talt administration, and which ’% a now departure in suits u uler the Sherman a a tz-trust law. At-tf'inej General McReynoids, in his Mflier to the court to break the Reading’s contiol o\ er the Central Raii-10. d ot New Jersey and other corporations. \Miuh he contends are engaged m a cousnnacy aga nst the Sherman ani’-irust laws, asks that the Reading company be leqaued to dispose of the capital stock of these corporations ‘‘to pei sons not its stockholders or agents, noi orheivi.se under its control or *n-fiult;~.nte.”Ths means that Attorney General McRei noIcU intends to aave settled in advance in this case the question that caused so much controversy in the Fa on Pacific-Southern Pacific dissolu-bon case.T-ie attorney general always has had a very strong teeling against the character of the dissolution permitted -by the department of justice in the case of the Standard Oil company where pro rata distribution of the stocks of ■he subsidiary companies was permit-•c-d among the stockholders of the par-sn‘ concern.Nine coal and transportation eom-pan es representing an investment of $ K9,637,394, are made defendants in the suit, together witb President Jeorge F. Baer and the eight diiec-■ ors.The companies are the Reading company, the Philadelphia Reading Railway company, the Philadelphia Reading Coal and Iron company, the Central Railroad of New Jersey, the Lehigh Wilkes-Barre Coal company, the Lehigh Coal and Navigation com pan*, the Wilmington Northern Railroad company, the Lehigh Hud *on River Railway company and the Lehigh New England Railroad com pany.It is set forth in the petition that he combina.ion of railroads, coal '■ompnnies and canal companies In the ir.t of derendants control at the pres ent time 63 per cent of the entire un ntned deposits o' anthracite coal, and market about 30 per cent of the annual arplj I s supply, it is asserted, will outlast bv m.ny years that of any sup a’ now' known, in time, it is argued, this combma on. jf not dissolved, wi*l own or con■ ol “ei ery '-on of commercially avail 'bis an.aracre known to exist.” The irnpoi „anre oT the case is emphasize! n the ssa'er'ent that “only tne ’aw an af'/vd rehef.”It pointed out that while in al-nor. any other biarch of industry it * n* possible tor a rncnopo'y ton !•-- -he ’nfiux ot Leei caoi-I r-c e = uy high profits, there , . 1 ‘'o -■ 'octj-n ara’net such a ” i -» b. a .i - it is ci’leaed enu? in .a,.~ fi ( vvJipti other Known res o* anthracite coal shall halt; e e *r com ’it-ad.
Newspaper Details
Adams County News
Gettysburg, Pennsylvania, US
Sat, Sep 06, 1913
Page 7
Full Page
Clipped by
Frederick C.
MD, USA 12 Mar 2025
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