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The Sherman Antitrust Act of 1890 was the first measure passed by the U.S. Congress to prohibit abusive monopolies, and in some ways it remains the most important.Trusts and Monopolies. A trust was an arrangement by which stockholders in several companies transferred their shares to a single set of trustees.he Sherman Antitrust Act was the first measure enacted by the U.S. Congress to prohibit trusts (or monopolies of any type).
Herbert Hovenkamp. In 1890 public hostility toward the monopoly actions of large corporations was at a feverish pitch. The Sherman Antitrust Act (26 Stat 209) was designed to limit monopolistic and other anticompetitive practices by large American corporations such as Standard Oil Company. The act, immensely popular when it was passed, was named after Senator John Sherman of Ohio, one of the senators who originally proposed such a law.