New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-11-27
TRUSTS IND THE LAW.

Missouri has a law against trusts, which was
drawn with so much anxiety to include every
combination of that nature that it appears TO
include great many innocent and useful COM
panies, and possibly many business partner
ships. The State authorities have been pre-
paing to enforce the act against all companies
or parties doing business within the State who
come within its provisions, and TO that end adj
dressed inquiries calling upon each for sworn
statements regarding their mode Of organiza
ton or Of tIanSacting their business. Several
hundred failed or refused to respond, and
against them the prosecuting officers have been
required to begin proceedings immediately
From the tenor of dispatches it would appear
that several hundred corporations are officially
held to have ceased to exist already by their
voluntary refusal Or neglect to comply with
the law
But while many manufacturing companies
transp PORTING companies, street railroads, ee
vatOrs, barrel companies. and others of similar
nature, are said to have been summariy cast
into outer darkness, rendered unable 10 transact
business in the State, and subjected to p1osecu-
lions and penalties, it is also stated that the
White Lead Trust and the corporations under
or within it have met all Che requirements Of
the law and are authorized to continue bust
ness as before. The companies engaged in
this manufacture, whose property the trust
controls, have found some way Of evading the
statute which was 50 strngently framed that
ii included many persons and corporations never
intended to be touched These statements may
prove in some respects erroneous but there
seems to be a concurrence of opinion that the
aw fails to reach some Of the very offenders
whose conduct caused It's enactment, while il
strikes a multitude Of people who were not
aimed at In this particular it illustrates the
fate Of much hasty legislation designed to pro-
tect the public against abuses. Quite too often
such legislation fails to do the good intended,
but does a great deal Of mischief unintenton-
ally.
The Lead Trust is said to have brought grief
to many st. Louis manufacturers and spec
ulatols who went into the combination expect
ing to realize great profits. Works were first
appraised at a valuation said 90 be very high.
but for every so of property thus valued
Trust stock representing four times that value,
or 81 co. was given. the seller hoping to dispose
Of il for $40 or more. Instead of getting
several times the appraised value, they have
been oblig d 10 take less than that value, sell
ing stacks at 20 which they received at %.
Hence many tears. Numerous spectators also
bought at prices anywhere f'om % to 10, who
have been obliged to unload AZ considerable
loss. The grief is not shared by the public,
naturally, because the principal object Of the
undertaking was to make the public pay moro
FOR paint.
1t is curious instance of legislative impO-
tence that this well-knOwn Trust which was
undoubtedly one Of those at which the Missouri
law was especially aimed is said 10 escape its
provisions entirely, while similar organization
ID held by the courts OF Newly orS, in the alb
Sence Of any special legislation aimed at such
combinations, to be contrary to public policy
and Illegal. Without any interference of law.
making Solons the Trust in New-York is held
unlawful on principles recognized in the com.
mon law Of all the States. But where the law.