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This newspaper page contains 9 articles. Subscribers can read the full text of each article.
Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
May 17, 1911
Page
11
Brokers crowded offices as the oil trust case ends, easing fears of a general business downturn. Men of large interests express relief that the case is out of the way, reducing deterrence to direct buying of bonds and high grade stocks.
On May 16 Wall Street financiers and corporate leaders praised the Supreme Court decision as a moderate handling of the law affecting large industries. Stocks surged with Americans on the London exchange and trading volume reached 1,002.6 shares, the highest since the Pearson-Farduhar dissolution last July. American Tobacco and Standard Oil posted gains as traders anticipated a milder, more elastic interpretation of corporate conditions.
New York May 16 Andrew Carnegie presided at the New York Peace Society annual meeting. He praised the US Supreme Court decision in the Standard Oil case and introduced Myron T Herrick of Ohio as a possible future president while advocating a world peace alliance among Anglo Saxon and Japanese nations and a new commercial system guided by court supported regulation.
Jacob H Schliff of New York argues the Standard Oil ruling is not as severe as feared. He states it simply bars unreasonably restraining trade, poses no threat to prosperity, and could yield beneficial effects. Fisk shares optimism about positive outcomes.
Toronto on May 16 William Jennings Bryan spoke during a lecture tour voicing belief that the Standard Of decision will affect trust location discussions. He argued the verdict could influence estate issues and provoke stronger public debate than in recent years.
Justice Harlans dissenting opinion, delivered from the bench, argues the antitrust act of 1890 should be read to prohibit all contracts restraining interstate trade, not just unreasonable restraints. He recalls Trans Missuri and Joint Traffic cases, warns against judicial legislation, and urges Congress to amend the law.
New York May 16 Standard Oil will obey the court decree but delay any reorganization plans until the full opinion is studied. Mortimer F Elliott, the companys general counsel, said the board will act under its own officers and corporate structure while the decree is implemented. William Rockefeller attended the conference with directors including William G Rockefeller Percy Rockefeller S Folger Sr Walter Jennings and John G Milburn who helped argue the case.
The article reports on discussions of amended antitrust proposals, court interpretations, and key remarks by William Rockefeller and other Standard Oil figures. It covers Roosevelt era views on restraint of trade, Taft's opinions, and the Senate Judiciary Committee's adverse report on a antitrust amendment. It notes support and caution about future corporate reorganizations and the public policy against monopolies.
The ad promotes safekeeping for furs during warm weather in a cold storage facility. It notes repairs and alterations available at summer rates, targeting customers seeking protection and maintenance for fur garments.
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