The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1890-09-16
IoWA's ANTITRUST LAW.
Cnmbrous and Productive
Of EnoonvenieEces Not Contemplated by
Its Authors--som -Glaring Defects Dis
eusamd.

SIS "~h&NAhk DssENta AsA~
cussed.
DEs MONIES, sept. l5.--Iowa has ON her
statute books an anll-tust Law, enacted by
the last Legislature, which appears 20 be a
very bungllng piece of legislation. IL re-
quIres the secretary Of state 10 procure
from each aud every corporation organized
under the laws OF the state a statement
under oath as TO whether said corporation
has merged all or any part OF its business or
interest in or with any trust, corporation
or association Of persons or stockhold-
ers. The answer must be sworn 90 by the
president, secretary, treasurer. or any di-
rector OF the company. So far, this part Of
the law has proved unexpectedly cumhrous
and productive OF Inconvenience not con-
templated by lfs authors. In the first place
it Il not confined 10 corporations which can
go into trusts and combines. and not even to
these organized for pecuniary profit. Con-
seqaently tho secretary of state has had 70
send out blanks 10 churches. benevolent so-
eieties and secret societies. which could by
ne possibility have any object Ia going into
secretary of states Office very
much aud has caused the officers
Df such societies no end of
rigid and the secretary of state has no OPP
tion bat to enforce II ia the best OF his
ability. The answers, however, are coming
In very slowly. as might be expected. An
other fact which makes tho enforcement
difalealt il that there IN no record Of corpo-
ratIons, which have been discontinued.
Hundreds OF corporations have been organ
ixed under the simple laws ga procedure ,f
the state, and have subsequently been
merged Into other corporations or iapscd
out OF existence altogether There Is no
law which compels dissolved corporation
10 make any report of les dissolution TO any
state officer. Consequently large
number of these defuact corporations
have been requested 10 swear that they
are Ia no pool or trust. The score
tary OF state viii never know whether they
are In u condition 20 answer or not. Another
serious ditlicmlty VIII arise when the secre-
tary turns In his list OF corporations who
have refused or neglected TO answer TO the
attorney general. Tho latter official II re-
quired to begin proceedings against all de-
lInquent corporations hy himself or the
county KrtUFHgy. Tie Is EIyen 30 dTscrGtlOn.
80 hundreds OF cases will be begun over the
state which have passed out OF existence,
and against others which from their nature
could not be guilty Of violation OF the
spirit OF the law. A refusal 10 make this
affidavit viii be followed by re-
vocation Of charter, and II tho law
II literally enforced Ii win go hard
with great many church societies and be-
neyoient organizations The attorney -gen-
erals oface II already overwhelmed with
business, and there l. mo- provision for more
assistance. What he can do with the anti
trust law IL difficult 20 foresee. An anus
Ing result Of the law so far II that the readi-
est and promptest replies como from those
! corporations at whom the law Is supposed
10 be directed. None Of the corporations
which are notorionsly In the combines have
found the slightest diniculty In swearing
that they have not entered into any trusts.
As whole, II Is exceedingly doubtful II the
antitrust Law % Iowa Will accomplish the
end desired.