ATTACKS ON THE SOAP TRUST.

Otago Daily Times, Issue 13959, 19 July 1907, Page 5

ATTACKS ON THE SOAP TRUST.

ACTION FOR LIBEL.

liEVJiR BEOS. AWARDED £50,000.

Press Association—By Telegraph—Copyright.

( LONDON, July 17. The Daily • Mail and. Mirror withdrew tho imputations made against- Messrs Lover Bros, the actions being settled on payment; 0f.£50,000 damages. Mr Kitfus Isaacs, K.C., counsel for t-liß newspapers, announced that, in view of Messrs Lever's demeanour in the witness box, he would withdraw his plea of justification, and Mr Justico LawTonco commended tins as an honourable and a proper course.

The damages awarded are exclusive of the taxed costs.

Later. Mr W. H. Lever, head of the firm of Lever Bros., who instituted tho prosecution against tho Daily Mail and Evening Nowa tor libel in connection with the soap trust,, declare** that tho attacks on tho trust had cost him ni a few weeks £40,000 on sales alone, wliilo two million pounds worth of £10 preference shares of tho firm had declined £1 each, besides other losses on ordinary shares and on tho goodwill.

An attempt to form a soil) trust was made in 1905. _ Sir W. 11. Lever stated that tho individual finna would continue their independent existence, and go on ae before, but they -would be amalgamated as far an profits wero concerned. He also state*' that their only objcct was to remove the cut-throat competition, which had been going on for so long, ami io introduce the necessary economies in the manufacture of softp The high price of material had made, it impossible to continue fighting in tho waj thoy had' done without a riso in the price ol soap to tho public. The following announcement' was published on Novcmbei 2l:-"Th9 working arrangement entered into between tho leading so&pinakers of tho United Kingdom has been receivod with so great disfavour by the trado and the public as to make it miworkable ; and as it is clearly tho first consideration to endeavour to satisfy the trado and the public, it has been decided to termjnnto the working arrangoment from to-day, November 23. Eaoh firm will, therefore, continue to conduct from this day its own business as was done nrior to . negotiations being entered upon, and \entirely ssgnrato from each other The working arrangement- between tho leading Boapmakers is now, therefore, absolutely and Mially dissolved"