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: ...were in control of corporations representing a
capital of $35,521,143,000, which is nearly one-fourth of the total
wealth of the United States. 67. THE SHERMAN ANTI-TRUST LAW OF
1890. In the decade from 1880 to 1890 the movement towards monopoly
under the form of the trust became rapid, and many states passed
laws to forbid the formation of monopolies. These laws had little
effect, because the trusts, either reorganized under forms that
evaded these laws or obtained charters in states that had no
anti-trust laws. In 1890 Congress passed the Sherman Anti-Trust
Law, which prohibits all combinations in restraint of interstate
commerce. For a number of years the Supreme Court of the United
States interpreted the law so as to make it apply only to the
transportation and sale of goods, and not to the process of
manufacturing. But recent decisions have interpreted the law so as
to include manufacturing establishments whose products enter into
interstate commerce. Many important decisions have been rendered
within the last few years concerning manufacturing monopolies, four
of which are especially instructive. In the Standard Oil case of
1911 the government had no difficulty in proving that the holding
company of New Jersey which controlled the oil interests was a
monopoly, and it was dissolved and the stock handed over to the
constituent companies. But the price of oil was not reduced, and
the common opinion is that a gentleman's agreement and interlocking
directorates prevent competition now as effectively as ever. The
Tobacco Trust case had similar results. The companies were
reorganized, but prices did not fall and no competition seems to
exist. One of the most remarkable cases was the suit against the
Beef Trust. The government spent nine years accumulating ev...
|Country of origin:
Ulysses Simpson Parker
||246 x 189 x 4mm (L x W x T)
||Paperback - Trade
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