Our Documents states that the Sherman Antitrust Act, designed to dissolve certain company trusts, was not successful because it failed to completely define critical terms, such as "monopoly," "trust," "conspiracy," and "combination." Many stockholders had transferred their shares to trustees within major companies, and these trusts had created monopolies.
One of these anti-competitive trusts was created by Standard Oil on Jan. 2, 1882, which was made up of nine trustees who made all the decisions regarding component companies. The National Archives shows that the Sherman Antitrust Act of 1890 was passed by the Senate with a vote of 51 to 1 on Apr. 8, 1890, and it passed through the House of Representatives unanimously with a vote of 242 to 0 on June 20, 1890.