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Trusts of To-Day: Facts Relating to Their Promotion, Financial Management ...
Gilbert Holland Montague
No preview available - 2017
agreement allowed American amount annual Anti-Trust Act appeared association Attorney-General banks capital capitalisation cash cent combination common law common stock Company competition competitors concerns Congress Constitution contract corporation laws courts debt demand determined direction discrimination Distilling dividends earnings economies effect evils Federal fixed Glucose Government granted greater held hold incorporation increased individual Industrial Commission interstate commerce investor Jersey legislation less lines lower manufacture measures ment mills monopoly Northern Securities Company officers organisation output over-capitalisation paid pany passed person plants Plate pool poration practical preferred stock present production profits promoter properties protected proved purchase railroads railways raised rates reasonable received regarding regulation reserve restraint restraint of trade result savings seems sell similar Standard Oil statute Steel Company Steel Corporation stockholders suggested supply surplus tion trade trust United States Steel York
Page 197 - Property does become clothed with a public interest when used in a manner to make it of public consequence, and affect the community at large. When, therefore, one devotes his property to use in which the public has an interest, he, in effect, grants to the public an interest in that use, and must submit to be controlled by the public for the common good, to the extent of the interest he has thus created.
Page 176 - ... who for such purpose shall in the course of such business sell any article or product at less than its fair market value, or at a less price than it is accustomed to demand or receive therefor in any other place under like conditions; or who shall sell any article upon a condition, contract or understanding that it shall not be sold again by the purchaser, or restrain such sale by the purchaser, shall be deemed guilty of a misdemeanor...
Page 86 - ... (to be determined by the internal consciousness of judges and juries) be3 - ond which competition ought not in law to go. There seems to be no authority, and I think, with submission, that there is no sufficient reason, for such a proposition. It would impose a novel fetter upon trade.
Page 86 - But. we were told that competition ceases to be the lawful exercise of trade, and so to be a lawful excuse for what will harm another, if carried to a length which is not fair or reasonable. The offering of reduced rates by the defendants in the present case is said to have been "unfair.
Page 87 - ... with the ordinary expedient of sowing one year a crop of apparently unfruitful prices, in order by driving competition away to reap a fuller harvest of profit in the future ; and until the present argument at the bar it may be doubted whether shipowners or merchants were ever deemed to be bound by law to conform to some imaginary "normal" standard of freights or prices, or that law courts had a right to say to them in respect of their competitive tariffs, " Thus far shalt thou go and no further.
Page 192 - That any prospectus or announcement of any kind soliciting subscriptions, which fails to make full disclosures as aforesaid, or which is false, should be deemed fraudulent, and the promoters, with their associates, held legally responsible; (c) That the nature of the business of the corporation or industrial combination, all powers granted to directors and officers thereof, and all limitations upon them or upon the rights or powers of the members, should be required to be expressed in the certificate...
Page 176 - Any officer or employee of the commission who shall make public any information obtained by the commission without its authority, unless directed by a court, shall be deemed guilty of a misdemeanor, and, upon conviction thereof, shall be punished by a fine not exceeding $5,000, or by imprisonment not exceeding one year, or by fine and imprisonment, in the discretion of the court.
Page 135 - Citizens of Illinois can not evade the laws of Illinois passed against trusts and combines and defy the public policy of the state, by going into a foreign state, and chartering a corporation to do business in this state in violation of its laws. When these foreign corporations come into this state to do business, they must conform to the laws and public policy of this state.
Page 87 - All commercial men with capital are acquainted with the ordinary expedient of sowing one year a crop of apparently unfruitful prices, in order by driving competition away to reap a fuller harvest of profit in the future ; and until the present argument at the bar it may be doubted whether shipowners or merchants were ever deemed to be bound by law to conform to some imaginary "normal" standard of freights or prices, or that law courts had a right to say to them in respect of their competitive tariffs,...