The intelligencer. [volume] (Lexington, Mo.) 1887-1891, 1889-11-16

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detrimental and injurious to the public,
Instead of manufacturing its product
and disposing of it to the public OH
what might be fair competitive prices,
it had become a party to a combina.
ton, in part, at least, designed to
create a monopoly and exact from the
public prices which could not otherwise
be obtained. This was a subversion OF
the object for which the company was
created, and il authorized the attorney
general to maintain and prosecute this
action TO vacate and annul its charter"
The clear language of Justice Daniels
as here quoted, and in other parts OF
the decision, have arrested the atten-
ton of the American commercial
world, and opened the eyes of gentle
men who held that a corporation was
simply a piece OF legal machinery with
which to extOrt money from the public.
No better illustration could be given
of the undue power of corporations In
America, a power much more rigidly
regulated in Europe, than the fact that
this decision is only reached at this
time. But that it has even now been
arrived at means that the solving of The
problem presented by pools, trusts and
combinations has begun, and when the
American people earnestly set about
guessing out anything they are pretty
sure, sooner or later, to find an answer.
They solved the Boston harbor tea
question; they spelled and guessed out
the slavery question; and now they
will proceed to tackle the less difficult
matter of how best to prevent crea-
lures of their own making from rob
bling them In Missouri this is going TO
prove easier than it was in New York,
because we have q better statute law
upon the subject a clearer and more
unmistakable one. For instance the
first section of the act for the punish
ment of pools, trusts and cOnspiracies,
says:-"lf any corporation organized
under the laws of this or any other
state or country, for transacting or
conducting any kind OF business in this
state, or any partnership or individual
or other association of persons whose
ever, shall create, enter into, become Il
member of or u party to any pool,
trust, agreement, combination, confed-
Grafton or understanding with any
other corporation, partnership, indiyid-
ual or any other person or association
of persons 10 regulate or fix the price
of any article of merchandise or CON-
modify, Or shall enter into. or become
u member of or a party to any pool,
agreement, contract, combination or
confederation to fix or limit the amount
or quantity OF any article, commodity
or merchandise to be manu- featured,
mined, produced or sold in tins state,
they shall be deemed and adjudged
guilty OF a conspiracy to defraud, and
be subject to indictment and punish
meIt as provided in this act" .They
shall be deemed guilty of a conspiracy
to deiraud, and be subject TO indict
Amept."
The next section defines trusts, and
the next n provides penalties as fol
iows:-''lf a corporation or a com
pany, firm or association snail be
found guilty of a violation of this act,
it shall be punished by a fine OF not less
than one per cent. of the capital stock
of such corporation or amount in
vested in such company, firm or asso-
c~iaiion, and not to exceed twenty per
cent. of such capital stock or amount
invested. Amy president, manager,
director or other officer or agent or
receiver of ahy corporation, company.
firm or association, or any member of
any company, firm or association, or
any individual, found guilty of a viola
ton of the first section of this act, shall
he punished by a fine of not less than
five hundred dollars nor to exceed five
thousand dollars, and in addition
thereto may be imprisoned in the
county jail not to exceed one year."
These penalties are not euphemisms.
they are not pleasantries, as some peo-
pie seem to think, but they are the law,
and they will be enforced. That they
are good laws one OF the abIest and
most quoted tribunals of the countr,
has just declared.
The Missouri law says further:-
"Any contract or agreement in viola
ton of any provision of the preceding
sections of this act shall be absolutely
void" And shows its earDestness in
these words:-"Any purchaser OF
any article or commodity from Any
individual, company or corporation
t~ransactiDg business contrary to any
provision of the preceding sections OF
this act shall not be liable for the price
or payment OF such article or COM
modify, and may plead this act as de-
tense TO any suit for such price or
payment" The objection that the
cannot impair the obliga.
ton OF a contract, is met by the asser-
ton that the citizen cannot enforce a
made in violation of law.
Section eight of the law requires the
secretary of state to revoke the charters
Df all Missouri corporations which
to comply with the law, and il
is made the duty OF the attorney-gene-
and prosecuting attorneys to enforce
The provisions of the act.
They will go into the contest sustain
by a wholesome and just public
and with a clear and easily
understood statute.
And corporations which threaten
hat if their Missouri charters are taken
ay they will incorporate in Illinois
will do well to observe that their trials
will not end there, as they will even as
corporations be subject, if they
10 business in Missouri to fines of from
i've hundred TO five thousand dollars,
their officers, managers, or direc-
.ors, TO imprisonment.
The law is a stern reality, and il has
IL as state officers men who are
determined to enforce 1t.
-
Gov. FRANCIS has commissioned
Prot. SANFORD Sellers as major, and
'lr. Edwin Pigott RyIand as captain