THE LAWS DELAYS

Otago Witness, Issue 2927, 20 April 1910, Page 26

THE LAWS DELAYS

NEW YORK, April 12. Owing to Mr Justice Brewer's death and Mi- Justice Moody's illness, the Standard Oil and Tobacco Trust appeals have been ordered to be reargued. The reargument will probably take place in the autumn and the decision be given in the winter.

Some months ago Judge W. H Sanborn, sitting in the United States Circuit Court of the Distrct of Missouri, decided that the Standard Oil Company of NewJersey was an illegal corporation, and he ordered the company to be dissolved Under the presidency of John D. Rockefeller this Octopus of the West," as it has been called, has grown into the richest corporation the world has ever known, and has made its president the wealthiest man on earth.

In the earlier proceedings Mr Rockefeller admitted he was president of the Standard Oil Company of New Jersev (the parent commny), and said he believed the outstanding stock was about £20.000,000. Mr Charles Pratt, the secretary, said in tour years, the net earnings of the £40,000:000 ea tkG COI ° SSaI total ° f nearly Reuter discnbes the decision as one of the most important and far-reaching ever given in a, civil action in the American courts. That this is so was nlai.nly shown bv the slumn in Standard Oil stock that followed Judge Sanborn's decision. In JNew York they declined 12£ points, and brought various other stocks down with them. For years efforts have been mede to break down this huge trust, which was described by its enemies as a menace to the country. Mr Rockefeller and Mr Arclihokl (fcbfl vice-president), on the other har.d. dookrer! that the eompany "has made the rwtvolcuw industry, great." has held it for i/Iw wvanti-y as against foreign; competitors, and .;r,rs be«n a blessing, nxd not a bane. Its downifa.ll through ajiy cauee would bo a national dis&stor."