Evening Star Newspaper, February 8, 1931, Page 23

STANDARD MERGER WITHVACUUMO.XD U. S. Circuit Court of Appeals Sees No Legal Bar to Oil Firms’ Union. By the Associated Press. ST. LOUIS, February 7.—Proposed | merger of the Standard Oil Co. of New Yerk and the Vacuum Ofl Co. was ap- prived in a decision here today by three ges of the United States Circuit Quurt of Appeals. ‘The judges held that the union of the Standard of New York, with $450,- 000,000 capital stock and $708,000,000 assets, and the Vacuum Co., with $128,- 000,000 capital stock and $205,000,- 000 assets, in a world-wide petro- Jeum products corporation, would not be a violation of the historic Standard ©il_dissolution decree of 1909. ‘The appellate judges, in sanctioning the proposed merger, declared that the decree of 1909-1911 was meant to pro- hibit only @ merger which would actual- ly violate the law against combinations in restraint of trade. It held that the Socony-Vacuum merger would not create conditions contrary to the Sher- man anti-trust law. Intent Is Considered. ‘The judges held also that the ques- tion of intent must be considered and that no intent on the part of Socony and Vacuum to form a combination in restraint of trade had been shown in the hearing. Counsel for the United States Gov- ernment which filled suit here last March to enjoin the merger, indicated they would appeal to the Supreme Court. Those who rendered the decision were Circuit Judge Kimbrough Stone, who mwrote the opinion, and Circuit Judges Wilbur F. Booth and A. K. Gardner, ‘who concurred, all of the eighth judicial circuit. In hearing the suit they sat as judges of the United States District Court in Omaha the week of last Oc- tober 6. No Conspiracy Seen. ‘The 1909 decree dissolved the Stan- dard Oil Co. of New Jersey and forbade its component companies, including Standard of New York (Socony) and Vacuum, to form any new combination 4n restraint of trade. The appellate judges said, in light of the evidence as to the resources of the two concerns, in relation to the total oil business of the Nation: “There is, and could be, na, conten- tion here that the present contémplated merger i » continuance carrying into further effect or a prolongation of the conspiracy and monopoly found to exist in the main suit (the suit to dissolve Standard of New Jersey). The con- tention is that it is an entirely new undertaking. “As applied to the situation now be- fore us, our conclusion is that the Su- preme Court has construed section 6 (of the Supreme Court’s final decree of 1911) as enjoining a merger or trans- fer of property between the subsidiary corporations which are potentially com- petitive, only if and when such merger or transfer, at the time it may occur, constitutes an ‘entering or performing any like combination or conspiracy, the gect of which will be to restrain’ com- ree.’ WALL STREET INTERESTED. Merger May Have Bearing on Future Consolidations. NEW YORK, February 7 (#).—The udicial approval of the merger of the tandard Oll Co. of New York and the Vacuum Oil Co. in St. Louls today is of rticular interest to Wall street in e bearing it may have upon future consolidations of units of the original Standard Oil Co. ‘Wall Street understands that the keen competition which has developed in the oil industry in the past few years, to- gether with numerous mergers among so-called independents, have led vari- ous Standard units to consider reunion. Merger of tne Standard Oil Co.’s of New Jersey and California has been mentioned as a logical development, since New Jersey with its extensive mar- e system and refining capacity might eventually use to advantage the %:fi crude oil reserves of Standard of fornia, which is already the largest srude producer in the United States. ‘The stock market appears to have enticipated a favorable decision in the Vacuum-Socony merger case, for Vacuum stock sold up $4.37 a share today, and $2.87 yesterday. The stock of General Petroleum Corporation, formed -as a hol¢!ng company to effect the merger, advanced $4 a share today. Standard of New York stock, however, has worked only 50 cents a share higher in the last ghree days, gaining only 25 cents today. On the basis of the latest balance sheets, the combination will create an il company second only to Standard of New Jersey among American concerns. e Royal Dutch Shell group is still the fworld’s largest petroleum organization. The consolidated company will have @ total book value of about $1,000,~ 000,000, of which approximately one- uarter will be contributed by Vacuum. tandard of New Jersey’s balance sheet at the end of 1929 listed assets in ex- oess of $1,700,000,000. Its 1930 balance sheet is not yet available. 12 ASYLUM INMATES REMAIN AT LARGE Half of Number to Escape Ten- nessee State Hospital Are Recaptured. By the Associated Press. NASHVILLE, Tenn., February 7.— ‘Twelve men, described as “potentially dangerous,” who escaped from the Cen- tral State Hospital for the Insane here last night during a fire, remained at large tonight. Twelve others, who fled with them despite efforts of guards to keep all in- mates herded together during the fire, were recaptured. At the outbreak of the fire Dr. W. S. Farmer, hospital superintendent, or- dered 622 inmates led to the lawn. All but 24 remained orderly and were led back to their aull’kl’s when the fire was extinguished. Dr. Farmer said the damage would amount to about $2,000. The cause of the fire was not determined. Luther Anderton of Shelbyville, Tenn., an epileptic, said by Dr. Farmer to be one of the three most dangerous men to flee, was captured today. Among those at large were A. 8. Riggio of New York City and Norman Winchester of Putnam County, Tenn. Riggio was placed in the hospital after being tried on robbery charges. Winchester had served three penitentiary terms. Dr. Farmer said he believed all the men would be returned to the huspital within a few days. MINE FIRE CONTINUES HELENWOOD, Tenn., February 7 (#). ‘Water thrown on a huge pile of burn- :l mine refuse near here o y“m bee two off sulphur fumes, citizens . say are dlml‘tn{ roperty and bringing dis- comfort ghem. y: A pump is drawing water from a nearby creek and throwing it on the fire. J. W. Baker, one of the owners ex- THE SUNDAY STAR. WASHINGTON, D. 0. FEBRUARY 8. DRY LAW ENFORCEMENT HIT BY U. S. GRAND JURY Federal Group at St. Louis Says Agents Maoke Petty Cases, but Ignore Source of Supply. By the Associated Press. ST. LOUIS, February 7.—Prohibition enforcement in St. Louls was assailed as “inefficient” and a searching investi- gation of local prohibition officers was recommended yesterday by the Federal grand jury in its final report to Federal Judge C. B. Faris. The report stated the dry agents have been making & great numbar of “petty cases” against offenders of the prohibi- tion act, while “they overlook putting out of business the source of supply of illicit liquor” in the city. The jury termed incompetent Pro- hibition” Agents Merritt D. Radfield and Carol T, Byrd and said their recent re- moval to Kansas City and Little Rock. Ark., respectively, was “an injustice” to those cities. Nearly 65,000 miles of new highways were constructed in America in 1930. This 4-Piece SEEKBUSSERVCE FOR TAKOMA PARK |Civic and Town Officials Working for Increased Transportation. Special Dispatch to The Star. TAKOMA\PARK, Md., February 7.— The Executive Committee of the Ta- koma Park Chamber of Commerce will hold a conference within the next few days with Mayor Ben G. Davis and members of the town council with the object in view cf securing a motor bus service for this community. The matter was presented at the last meeting of the Takoma Park Chamber of Commerce and received the unani- mous support of that body, and since W, Charming Bed Room Suite of Walnut Veneer = February Sale Price..... Less Allowance ..... 128" $ 40.00 Now ... $88.00 s i T —— o Look at the above illustration . . . notice the large Dresser, the newly designed Bed, the handsome, Chifforobe, and the graccful H piece artistically designed in choi high-lighted overlays. roomy vood 1 ani cach e Walnut Veneers, Wouldn't they look good in YOUR bed room? Come in and sce this suite for yourself! This 100-Pec. Complete service for twelve persons. delightful pattern from which to set of dishes! = - Jl.’h.fi‘ P Four Decorated Dinner Set e February Sale Price.... Less § Allowance . select, $5 allowed for your old Now ..... $5 for Your Old Gas Stove . the meeting the members have been engaged in making a survey of the sit- uation. President Gordon W. Bon- nette of the local chamber has been urged to investigate the proposition and make every effort to secure a service of this character. At present the eastern section of Takoma Park is without public trans- portation service and with the forma- tion of a double loop within the cor- porate limits all sections could be served. The loop could be so arranged as to provide transportation for residents of North Takoma as well as the eastern section of ¥his suburb. Lions Club Approves. At a special meeting of the Executive Committee of the Takoma Park Cham- | ber of Commerce called by President Bonne'te the matter was discussed at some length and a decision reached to confer with Takoma Park officia’s with a view to furthering the project. The Lions Club of Takoma Park, at a meeting presided over by Dr. William A. Shannon, took up the matter and voted unanimously t5 co-operate to so- cure this additional transportation. Considerable interest is being manifest in the various sections of the park and especially the scctions which at the present time are without any trans- portation facilities, ~'l,flzuufluflmnal e, o TLS /4 s ers, Tateq, This Cabinet Gas Range February Sale Pri . Allowance secovensnenionns BB - o cxcl 2972 5% $24.75 Reliably made and nicely finished, with gen- erous oven space and new modern features. $1.00 Down RANSFAL TOEND WITER DROLEHT Water Shortages Are Worse in Wisconsin, lllinois and Indiana. By the Assoclated Press. CHICAGO, February 7.—Midwestern skies tonight offered little promise of subsiantial _rains, sorely needed to break one of the worst Winter droughts in_ycars. Precipitation of rain or snow was general yesterday from North Dakota to the Ohio River Valley, but insuffi- cient to allay fear of water shortages in Wisconsin, Southern Illinois and In- diana. For many sections it was the first rainfall since early January, a 1931—PART ONE. month of unusually mild weather. Clear weather prevailed today over the central plains. Temperatures were slightly higher. Snow, however, covered most of North Dakota, Minnesota, Wisconsin, Northeastern Iowa and Southern Michigan, averaging 32 inches over Wisconsin and totaling 8 inches at Bertha, Minn. South and Central Illinois, where drought conditions have menaced health and crops for several weeks, de- rived small benefit from last night's showers. Many communities were placed on water rations, the reserves in those sections having been cut in half by the worst Winter drought in 50 years. Christopher, Salem and Marion, T, have stopped the sale of water to rail- roads. Jacksonville has forbidden: its residents to use water for bathing pur- poses on pain of having their supplies cut off. West Frankfort, Pana, Cen- tralia and other county seats have from three weeks’ to two months’ supply on hand. Yesterday's rain in Kansas fell too far east to help the wheat crop. Iowa's dry spell remained unbroken, while ‘Wisconsin rivers, lakes and farm wells remained at their lowest levels in years. Farm observers said 6 inches of rain would be necessary to make a material improvement in Illinois crops. Louis- ville, Ky., distilleries have been fur- nishing water and distillery waste to ne:{lhborln( farmers for use in feeding cattle. 278 TO 10 HOUSE VOTE SUSTAINS HOOVER VETO Bill to Recognize Homer N. Horine as Spanish-American War Vet~ eran Goes to Discard. By the Associated Press. The House yesterday sustained the| session from President Hoover. The vote was 278 to 10 in fa¥or of upholding the President, with two | members voting “present.” A two-thirds majority is necessary to override a veto. The bill was for the relief of Homer N. Horine of Kentucky. It would have recognized him as a Spanish-American war veteran. ‘The President saild War Department first veto message it has received this|S files disclosed no record of Horine's service. | “ALFALFA BILL” MURRAY NAMED TO BE PRESIDENT Impromptu Mass Meeting Oklahoma Farmers Nominate Governor for White House. By the Associated Press. BRISTOW, Okla., February 7— Called together in 10 minutes, an im- passioned mass meeting of Créek Coun! farmers this afternoon indorsed the policies of Gov. W. H. “Alfalfa” Bill Murray and passed a resolution nomin- l'a‘ng him for President of the United tes. Murray, addressing the State Legisla~ ture this week, told it to pass his relief program or he would “carry it to the people” and call mass me=tings in every town in the State. Some participants in the mass meet- ing here urged a march on the State Capitol to help bring about of drought aid legislation and other - istration measures. Standing in the rain at a downtown corner, W. L. Cheatham, former legis- lator, called the meeting which was at- tended by about 150 persons, mostly farmers. FURAITURE- COMPANY - . . . goes a step further in offering new, low bar gain prices on fine furniture! In addition to the regular discounts available during our February Sale, we now offer yeu $40 for your old bed room, dining room or living room suite, to be applied against the cost of a new one. We also allow you $5 on certain other old merchandise on the purchase price of new articles of a similar nature. Buy NOW and SAVE!!! $5 Delivers Any Suite This 3-Piece 100% MOHAIR Living Room Suite A massive suite; consisting of long sofa with button- backed center panel, club chair and button-back Bunny chair. Upholstered in combination MOHAIR, with loose, reversible cushions, moquette reverse, February e Price....coovuene Less Allowance...... Now ....... 599.00 (T i it paddedlll | == ] This 3-Pc. Metal Bed Outfit February S, ice Allowance Old Outfit NOW.. IR, for 500 . ¥R A AT Y0 I SOV T AT Governor Winthrop Desk February Sale Price $33.50 Allowance for Old Desk $5.00 February Sale Price $22.95 Allowance for Old Kitchen Cabinet $5.00 All new time and labor-saving features. $5 for Your Old Rug! 9x12 Axminster Rug February Sale Price, $33.65, Less $5.00 Allowance 28 6x9 Axminster Rug PFebruary Sale Price, $20.85, Less $5.00 Allowance u‘,eh oYY an