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Petroleum and Gasoline; Hearings Before the Committee on Mines and Mining of the House of Representatives

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1916 Excerpt: ...and the Supreme Court of the United States found that the combination was in violation of the Sherman law, and, fortunately for the people of this country, in that case the Supreme Court passed upon the plan of dissolution, which it did not do in the Standard Oil case, because the Government did not appeal in the Standard Oil case, and in the Standard Oil case the only question before the Supreme Court of the United States was whether the decree of the lower court went too far. The Standard Oil Co. alone appealed, while in the Union Pacific case the Government had appealed from the decision in the lower court, and the decision of the lower court was reversed, and therefore it was for the Supreme Court of the United States ix pass upon a plan of dissolution. Now, Mr. Harriman's attorneys suggested to the Supreme Court of the United States that something fiver a million of the shares of the Southern Pacific Co., which were held by the Short Line, should be placed upon the market or should be distributed to the shareholders of the Union Pacific. This is what the Supreme Court of the United States said about it: The plan proposed in the present motion of distributing the stock of the Southern Pacific Co. among the shareholders of the Union Pacific Co., or selling it to such shareholders, will in effect transfer the stock from the Oregon Short Line Co., which now holds it for the Union Pacific Co., to the stockholders of the latter company, who own' and control that company. Upon the face of it this would seem to be a proposition to perpetuate the domination and control of the Union Pacific Co. over the Southern Pacific Co., because of the power given the Union Pacific Co.'s stockholders to choose the directors of the Southern Pacific Co. The ultimate determinat... Hide synopsis

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