New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-05-09
THE WAR AGAINST TRUSTS,
MR. ARNoLps BILL PASSES THE SENATE.
HE SAYS 1T WILL BREAK Up ALL INJURIOUS ThADE
OBSERVATION-DISCLOSURES ONE VOTE AGAINST
THE MEASURE


HE SAYS 1T WILL BREAK Up ALL INJURIOUS TRADE
COMBINArIoNs-eNLY ONE VOTE AGAINST
THE MEASURE
v,ov THE REGULAR CORRESPONDENT on THE TRIBUNE.l
AIeAxY. NAV s.-About three months ago the
Committee on General Laws of the Senate was d.
rected to learn the character of trusts and the
effect of such trade combinations upon the bust
ness of those not connected with them. Senator
Arnold, the chairman of the committee took his
committee to New-York City, and there listened
To a good deal Of evidence about the Standard Oil
Trust, the Sugar Trust, and other trusts. This
evidence the committee summed up and submitted
to the Legislature, with recommendations that GER
tain evils Of the system Of trusts should be cured
by legislation II possible. Senator Arnold
followed up this action by wading through the
snow-banks in the great blizzard Of
March IA to the State Capitol and
submitting bill against trusts, which, although
his own individual production, came to be re-
garded as that Of the Committee on General Laws.
This measure after good many debates came
up for a final one to-day. It was Immediately
attacked in furious manner by Senator Vedder,
who read kilograms from members OF the OIL
Producers Union Of Cattaraugus County protest
ing against the passage Of the bill as one that
would much injurc their interests
Mr. Arnold said that the time had gone by
when the Senate paid much attention to kilograms
about anything.
Mr. Vedders motion that amendment be
added to the bill exompting crude oil producers
from its provisions was defeated, 8 to IT, Inc
amendments to the bill, except those offered Dy
Mr.. Arnold. Thus an amendment offered by Mr..
Ives providing that it should be unlawful to
maintain or continue to maintain trust was
rejected by large vote Mr. Arnold then offered
the following amendment to Section /
But the provisions of this section shall not apply
to combin ations, contracts agreements made by
and between natural persons actually engaged In the
production of any such commodity SO lar as the sane
may relate to the amount of such commodities actually
produced By them.
This amendment was adopted by vote OF IA
to 5. The bill then came up for final VOTE
Mr. Cantor said in regard to IL:
This bill will hardly meet the public demand
in regard to trusts for Senator Arnold has ad-
mitted that it does not apply to EXISTING trusts
L have admitted nothing of the kind" said
Senator Arnold: on the contrary, have declared,
and again declare, that it will apply to existing
trusts and will break up sucn comoinaViohs IL IL
becomes o law" 40, 49,
Senator Cantor-I do not read the bill in that
way In my opinion it only affects trusts here
after formed. 1t is not antitrust bill in any
way 1t permits the continuation OF the present
trusts II stamps with the seal OF regularity the
trusts now existing. Yet as it moy have some
good effect I will vote for it; -,
Senator Ives-This is locking the stable door
after the horse has been stolen 1t merely passed
TO make a show against trusts. Yet / shall vote
for the bill. 1t Is effort in the right direction
Senator Low-It seems to me that the position
of Senators Ives and Cantor on THIS b1i is an un-
tenablc one. They oppose the bill and yet they
Senator vedder-I have labored my best to pro
tect the people | represent by opposing TINS oili,
hut apparently have failed The amendment OF
Senator Arnold makes the matter worse 1or them'
1t is conglomeration which will only work IN
jury. -, A.. co,..orw 1,es and
Cantor were disappointed because they had not
made any political capital by passing trust DIS OF
their own devsing. The measure" said he, WIN
prevent every kind Of injurious trade comOIha-
ton Of the kind known as trusts
There were twenty-eight Senators who voted Tor
the bill and only one-Mr. Vedder-agalnst H. Inc
bill as passed is given below:
III II sh,y rot be lawful for any individuai, com
pany or corporation to enter into any comnlnaiph,
contract or agreement express or implied within ms
state, or knowingly to execute aid or assist IN the
execution Of any contract agreement maze "!nh or
which shall be to limit lessen OF hinder the production
manufacture, sale transit or fix or increase tno
price the public of any Of the following commod'es
coal wood OIL. glass, Of any commodity brown as
necessity Of life But the Provisions OF THIS section
ments made BY and between natural persons actually
engaged in the production Of any such COMMODITY so
far the may relate to the amount Oh sueh COM
modtes actually produced by them. 49, o.,
q, 1t shall not be lawful for any corporation or Tor
enter rto any combination, contract or agreement
with Sny person persons, corporation or corpora
purpose or effect OF which combination, contract or
agreement shall be place the Management or control
OF such corporation corporations IN the hands OF
any trustee or trustees with the intent to limit or fix
tho price lessen the production or Lessen compet-
zion In the sale Of any article Of commerce. use or con-
sumption or 10 prevent restrict diminish the manu-
factiIre or output Of any such article.
(3l Any corporation which shall violate any OF the
provisions Of this act shall forfeit It's corporate fran
chses and its corporate existence shall Immediately
cease and determine. Every individual stakeholder,
or director OF any corporation who shall violate Of
such provisions, shall BIO guilty of Q misdemeanor,
and every agreement contract combination herein
declared unlawful shall be absolutely void But THIS
act shall not apply any contract agreement made
between partners in reference to the business Of their
partnership
az This act shall take effect Immediately.
PRESERVING THE ACKNOWLEDGES.
THE SENATE REJECTS THE BILL AUTHORIZING
LEASES OF FOREST LANDS