p. 10 | Important Decisions

Pacific Press Publishing Association · Mountain View, California · Mar 28, 1911

FromSigns of the Times, Vol. 38, No. 13.

Important Decisions

THE Supreme Court of the United States has recently rendered a decision calling forth much comment; namely, that corporations having a net income of over $5,000 a year shall pay a tax of one per cent to the Federal Government. This is held to be not a direct tax, but in the nature of a license for doing business. It is estimated that it will add not less than $27,000,000 to the Federal Government's income.

The Standard Oil Company's case now before it, upon the decision of which, says Harper's Weekly, "depends the legal standing of all the great businesses of the country," will soon be decided. That company has $110,000,000 of capital stock and $500,000,000 of assets. The companies that would be affected by a decision involving its destruction have capital to the amount of $11,000,000,000. Apart from the great United States Steel Corporation, the Standard Oil Company is the largest manufacturer in this country and the greatest merchant in the world. It employs 70,000 men; its pay-roll is $150,000 a day. It has never had a strike or a lockout. This we are told has been prevented by little better wages grade for grade than in similar businesses, advances and promotion to the deserving, and a pension for long service. The article in Harper's Weekly is wholly in its defense, doubtless a paid advertisement. The Supreme Court decision will be awaited with interest.

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