On March 14, 1904, the U.S. Supreme Court ruled 5-4 that the Northern Securities Company violated the Sherman Antitrust Act and ordered the railroad holding company dissolved. The decision affirmed the April 9, 1903 federal circuit court ruling against the company formed by J.P. Morgan, James J. …
U.S. Supreme CourtTheodore RooseveltJ.P. MorganJames J. HillEdward H. Harriman+1 moreantitrustcorporate-powerregulatory-enforcementsupreme-courtprogressive-era
On February 19, 1902, President Theodore Roosevelt’s Department of Justice announced plans to file an antitrust suit against the Northern Securities Company, a railroad holding company formed in November 1901 by J.P. Morgan, James J. Hill, and Edward H. Harriman to control the Great Northern …
Theodore RooseveltAttorney General Philander KnoxJ.P. MorganJames J. HillEdward H. Harriman+1 moreantitrustcorporate-powerregulatory-enforcementprogressive-erarailroad-regulation
In 1901, J.P. Morgan orchestrated the creation of the Northern Securities Company, a $400 million holding company that gave him control over approximately one-third of the country’s railways. The consolidation emerged from a fierce competition between James J. Hill, head of the Great Northern …
J.P. MorganJames J. HillEdward H. HarrimanNorthern Securities CompanyGreat Northern Railroad+1 moremonopoly-powerfinancial-consolidationcorporate-mergerrailroad-controlmarket-manipulation