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The Green Bag

cannot now be made without violating the Sherman act, and it is, of course, incumbent

upon the Executive to enforce the laws as they stand, good or bad.

How can the Sher

man law be so amended as to permit reason able combinations and at the same time ade quately protect the people from the evils of monopoly? This is the problem with which Congress is confronted." The New York Commercial thinks that if the decision is ultimately sustained com mercial chaos will ensue:— "Under sharp or fierce competition among seventy-odd oil companies and oil-carriers many of them would have to be operated at a loss or else go out of business; for under the law as interpreted they could not sell out to the Standard or to each other and could not combine with each other in order to effect

economies and to reduceIor to meet the com

petition—--for that would be ‘in restraint of trade'--and eventually there would be chaos in the oil business here in the United States. We don't believe the American people, as a whole, want to see that sort of competition." John W. Griggs of New York, who was Attorney-General under McKinley, expresses somewhat similar views : “I regard the decision as only another illus tration of the inherent deﬁciencies of the Sherman act, in regulation of business. I think that the business men of the United States are entitled to a more clear and ex plicit statement of the rule of conduct which Congress means them to conform to than that which is expressed in the present law. I hope that the efforts of the President and of his Attorney-General to evolve a better bill will be sustained by public sentiment and approved by Congress."

Periodicals"k Review of ﬂrlicles on Topics of Legal Science and Relaled Subjects Bank Guaranty Laws. “The Insurance of Bank Deposits in the West." By Thorn ton Cooke. Quarterly journal of Economics, v. 24, p. 85 (Nov.). The author reserves his conclusion for a future article, merely describing the conditions attending the Oklahoma experiment, which was tried with faithful p se to make it succeed, and to do away with the paralysis of trade and the human misery that have followed bank failures. Bankruptcy. " Concealment of Assets in Bankruptcy Cases." By Lee M. Friedman. 23 Harvard Law Review 30 (Nov.). “ Even though imprisonment for contempt may be the ultimate outcome of a petition to require the return of secreted assets by a bankrupt, still the correct rule of law is that applied in ordinary chancery suits. A pro ceeding to procure the return of concealed assets is neither criminal nor quasi-criminal in its nature. Such proceedings retain their character as civil throughout. . . .The

bankrupt who has a statutory duty to make true and full disclosure of hlS property and his dealings does not stand protected by any presumption of innocence nor is he entitled to any special protection from the court." “ Right of Fraudulent Vendee to Share with Attacking Creditors in Proceeds or Property as to Debt Unconnected with Fraud." By James F. Minor. 15 Virginia Law Regis ter 497 (Nov.). “ Where creditors successfully attack, as

fraudulent in fact, a conveyance of roperty by their debtor to one who also hol s a pre existing valid debt against the debtor, an interesting question anses as to whether such fraudulent grantee, who is thus also a creditor,

is entitled to a pro rata share with the attack ing creditors in the proceeds of the sale of the property thus fraudulently conveyed." Basis of Law. " Le Droit Commun Inter national comme Source du Droit Inter national Privé." journal do Droit International Pri'ué, 5th year, nos. 3-4, 497 (May-Aug). “ To me, private international law is not merely the science of the conflict of laws, it is private law (droit) considered from the

went to press are not ordinarily covered in this

point of view of the juridical needs of a com munity lar er than a state. I have been able to con my thesis that the settlement

department.

of conflicts is a means and not an end, and

‘Periodicals issued later than the ﬁrst day of the month in which this l5.sue of the Gran Bag