Still better, after receiving the shares which were granted them in each company, the old trustees took them and sold them to the _Standard Oil Company of New Jersey_, which has a capital of 100 million dollars of common stock, and only ten million dollars of preferred stock. For the _Standard_ has a monarchical constitution. All power to the holders of preferred stock! The holders of common stock have none but that of drawing dividends. Though they may be in an enormous majority, they count for nothing in the direction of the enterprise. About 1900 Rockefeller went still further. He increased the number of ordinary shares, and reduced that of the privileged shares. A memorandum of the Industrial Commission drew attention to this. "During the year 1900, the common stock has been increased by 38,550,700 dollars and the preferred stock has been reduced by 3,968,400 dollars." In short, Rockefeller makes the concern more and more autocratic. The _Standard_ forms a veritable State within a State, which nothing can bend. The Trust was reconstituted, with a holding company, the _Standard Oil Company of New Jersey_, holding the title-deeds of all the other companies. It was then that Roosevelt undertook to destroy a power before which everything bowed down. The Federal Government brought an action before the Court of St. Louis, under the Sherman Anti-Trust Law. The _Standard Oil_ and the seventy companies dependent on it were accused of "conspiracy, coercion, intimidation, rebating and other illegal acts in restraint of trade." The Federal Court of St. Louis ordered the dissolution of the Trust in 1909. The _Standard_ entered an appeal before the Supreme Court of the United States, which confirmed the dissolution in 1911, after five years of inquiries, prosecutions, judgments and appeals. The struggle had been going on since 1906. Many judgments had to be reversed. Thus, the _Standard Oil Company of Indiana_, with a capital of only a million dollars, was ordered to pay a fine of 29 million dollars for an illicit understanding with the _Chicago and Alton Railway_. It was paying only six cents a hundredweight for transport, while its competitors paid eighteen. This judgment was reversed in July 1908 by the Court of Appeal of Chicago. "It is strange," ran the decision "that a company with a capital of a million dollars should be fined a sum representing twenty-nine times this capital." The first tribunal had found 1,462 infringements proved, and had zealously applied the maximum for each case; that is how it had arrived at the incredible figure of 29 million dollars.