Northern Securities Company v. United States
NORTHERN SECURITIES COMPANY V. UNITED STATES
NORTHERN SECURITIES COMPANY V. UNITED STATES, 193 U.S. 197 (1904), began as a contest between competitive railroad trunk lines over control of an intermediate feeder line and ended up as a struggle for supremacy that pitted railroad moguls John Pierpont Morgan and James J. Hill against Edward H. Harriman.
Harriman, who controlled the Union Pacific system, had attempted to wrest from Morgan and Hill a special interest in the Chicago, Burlington, and Quincy, thereby effecting an entrance into Chicago. At first by stealthy moves and then by frenzied bidding culminating in the "Northern Pacific panic" of 1901, Harriman acquired a majority of the voting rights outstanding in Northern Pacific stock. Negotiations ensued for a friendly settlement, and out of them emerged the Northern Securities Company, a massive conglomerate encompassing virtually all the contestants' stock.
Challenged for violation of the Sherman Antitrust Act, the defendants contended that that act did not embrace the mere transfer of proprietary interests in any enterprise from one person to another. However, the Supreme Court upheld the government's contention that the holding company had been used as an illegal device for restraining interstate trade, since its necessary effect was to eliminate competition in transportation service over a large section of the country. The decision gave teeth to the Sherman Antitrust Act and spurred the government's trust-busting efforts.
Himmelberg, Robert F., ed. The Monopoly Issue and Antitrust, 1900–1917. New York: Garland, 1994.
Kolko, Gabriel. Railroads and Regulation, 1877–1916. Princeton, N.J.: Princeton University Press, 1965.
McGraw, Thomas K., ed. Regulation in Perspective. Boston: Harvard University Press, 1981.
Myron W.Watkins/a. r.
"Northern Securities Company v. United States." Dictionary of American History. . Encyclopedia.com. (June 20, 2019). https://www.encyclopedia.com/history/dictionaries-thesauruses-pictures-and-press-releases/northern-securities-company-v-united-states
"Northern Securities Company v. United States." Dictionary of American History. . Retrieved June 20, 2019 from Encyclopedia.com: https://www.encyclopedia.com/history/dictionaries-thesauruses-pictures-and-press-releases/northern-securities-company-v-united-states
Encyclopedia.com gives you the ability to cite reference entries and articles according to common styles from the Modern Language Association (MLA), The Chicago Manual of Style, and the American Psychological Association (APA).
Within the “Cite this article” tool, pick a style to see how all available information looks when formatted according to that style. Then, copy and paste the text into your bibliography or works cited list.
Because each style has its own formatting nuances that evolve over time and not all information is available for every reference entry or article, Encyclopedia.com cannot guarantee each citation it generates. Therefore, it’s best to use Encyclopedia.com citations as a starting point before checking the style against your school or publication’s requirements and the most-recent information available at these sites:
Modern Language Association
The Chicago Manual of Style
American Psychological Association
- Most online reference entries and articles do not have page numbers. Therefore, that information is unavailable for most Encyclopedia.com content. However, the date of retrieval is often important. Refer to each style’s convention regarding the best way to format page numbers and retrieval dates.
- In addition to the MLA, Chicago, and APA styles, your school, university, publication, or institution may have its own requirements for citations. Therefore, be sure to refer to those guidelines when editing your bibliography or works cited list.