The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-04-04
a Doubtful GUARANTEES Fund.

The supreme court of Illinois has lust
rendered decision that seems to knock the
bottom out of Chicago's guarantees fund for
the worlds fair. The Gas Trust Company
Is corporation organized under the laws of
Illinois and doing business in Chicago. 1t
took stock in other corporations organized
under the laws of the state. Chicago,
having an interest in the company,
contended that it could not legally do
this. The supreme court rendered de
cision to the effect that the city was right
and tn the Gas Trust Company was guilty
of having committed an illegal act. 1t
said, in effect, that one corporation cannot
become the owner of any portion of the
capital stock of another corporation unless
t1e authority to do so is expressly granted
by the legislature.
The Worlds Fair Company is corpora
ton organized under the laws of Illinois.
and nearly all the large subscribers to its
guarantee fund are railroad companies,
street car companies, and other corpora
lions organized under the laws of Illinois.
The question which now presents itself to
the worlds fair managers is this: If it is
illegal for the corporations doing business
in Chicago to subscribe TO the stock of the
worlds fair corporation, what is to become
of the worlds fair guarantee fund? It is
evident, if the foregoing decision is under
stood, that Chicago has received a blow
between the eyes, as it were, in this worlds
fair business. If she cannot collect what
her corporations have subscribed, her guar
MT finn &c 70
Chicago herself is to blame for this de-
cision, because she insisted upon having it
at once. If she had waited awhile it is more
than probable that the decisisn would not
have affected the worlds fair subscriptions,
because they would have all been paid AS
the matter now stands the corporations
cannot afford to run the risk of being pros
ecuted for aiding the fair.
The worlds fair has already cost Chicago
a good deal of trouble, and it promises to
cost her e great deal more before work on
the fair buildings is actually begun.
way may be found to evade that provision
of tho law which prohibits one corporation
from holding the shares of another cor
poration, but will the corporations that
have subscribed be anxious to take aivan-
tage of its May not many of them be glad
of chancs to escape paying the money
they promised? II looks more aud more as
if the expense of the fair would have to be
borne finally by the national government.
The confirmation of Swayne and Mtzell
was simply outrageous. Mizell introduc ed
partisan politics into the United States
court in Florida, aud Swayne upheld him.
Had they been democrats, and had Mr..
Cleveland been President, they wolld have
been promptly removed. But they a~e re-
publicans They were seeking to make po-
litical capital for their party. Under the
circumstances, President Harrison, who
breaches political purity and winks at po-
litical debauchery, refused to interfere, and
the republican Senate seams to have tn ought
that what these men did was deserving of
reward, so it confirmed their nominations,
taking care not to let the public hear how
some of the democrats show wed up Swayne's
and Mizsll's unitness. Bat need any one
be surprised at slch things on thu part of
republicans! Does anybody expect the Re-
publican party to be honest! The only way
the people can get rid of such officials as
Swayne and Mizell is to turn the Republican
party out