New York Court of Appeals
The People of the State of New York v. . Carson J. Sheldon
October 3, 1893139 N.Y. 251
Summary
The New York Court of Appeals affirmed the defendants' conviction for conspiracy arising from the formation of the Lockport Coal Exchange, which fixed coal prices among retail dealers. The court held that agreements to restrain competition are per se illegal conspiracies and that the act of raising prices satisfies the statutory overt act requirement, even if the price is reasonable.