OIL TRUST FINES.

Dominion, Volume 2, Issue 498, 4 May 1909, Page 5

OIL TRUST FINES.

.. -V--- ; ; '■'— —♦——' ■ ' ■ ■.' TEXAS STATE COLLECTS £60,000. (BI TZLBGBAPH—PBESS 4SBOCUTION—COPTBIQHT.) .:••• . \. Now York, May 2 ; The Waters Pierce Oil Company (an off-shoot-.of the Standard Oil Trust) has paid £60,000 to the' State of Texas in settlement of penalties for violating tho' anti-trust laws lof the; United States. .'. ' ]'.. . , . 'THE BLEEDERS BLED. .The total penalties imposed by the Texas Courts, on the. Waters Tierce Oil Company, one of the Standard Oil Trust's subsidiary concerns were ,£324,780;: so Texas has compromised on a basis of something less than a fifth. Still it is a great feat to bleed the: oil trust people at all-seeiag how. they have seoured the reversing of Judge Landfs's, 29 million dollars fine, 2 -°i ■?&?»' d . eci^oI V 3 i in other.States-and a nne of 4160,000 is'something. to remember even by a concern like ; the, Waters Pierce Co., whose ■WffiJ" 18 seen5 een v Talued at -£8-000,000 to .£10,000,000, and .whose enormous dividends amounted in some cases to 700 per cent- The people who.are!trying to clip the wings of trusts .will be inclined ■ to cry: "Well done, Texas." Writing m January, the 1 New Yorlc correspondent of "The Times" states:—- . 'The Standard OiLTrust, as represented- by the Waters Pierce, Oil Company, one. of-ifi subsidiary concerns, has lost its' appeal to the Supreme' Court against tho judgment of the Texas Courts,, banishing the Waters Pierce f«m. Texas and fining it 1,623,900 tt'/f A,m XH Tiolatin J U* 'Texas AntiiTust Law.-. The Supreme Court to-day unani•mousy;.afflrmed othe judgment. The bill of opmplauit charged the company with, the violation of the laws of the State every day ; since t^ n A -through conspiracy with the Standard Oil Trust to control tie oil business of Texas. The company is in the hands of a.receiver appointed £y the Texas Courts, kin 1 ™ 10 ' 1156 to «Tvr on bußifles3 w Ve™ is.to remain annulled. ':.■-,■ $ waa T n P^ld '. by tho Supreme Court the Texas Legislature has gone one better by passing an - amendment increasing ttTfl'n : f1 f tO don »"-«M«9 Per "ay the fine that,may,be.imposed, and making the of ye™ ° f lm l ,ris ° na ' mt Evolve initead