New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-04-02
1T WOULD MEAN a LOSS OF MILLIONS.
CHARLES 4. COLLIN TELLS LEXOW WHAT HIS
ANTITRUST BILLS WOULD DO.

CHARLES A. COLLIN TELLS LEXOW WHAT HIS
ANTITRUST BILLS WOULD 30.
ALBANY April l.-"Tfese bills will drive from this
State millions of dollars worth of capital. will cut
off the livings OF thousands OF residents and will
lower the commercial standing Of the State TO
large degree" said Professor Charles a. Collin. of
the New-York law firm Of Sheehan & Collin. in an
argument before the Senate Judiciary Committee
to-day on the Antitrust bills. He cited the de-
csion Of Justice Peckham in the United States
Supreme Court to the committee. and said: "In
view especially OF the tendency Of the courts as
shown in the lato decision of the United States
Supreme Court to construe the laws OF this kind
not in pursuance OF what was aimed at by the
fire. mers hut In accordance with the sweeping lam
guage Of their provisions. the language Of these
proposed is exceedingly dangerous 10 business
interests. have sympathized with Senator Ed
munds, who. II appeared in the newspapers
said that he drafted the Antitrust bill but nc
never intended any such resut-an experience
which is very common with drafters OF bills"
Mr.. Collins leading purpose TO argue against
the provisions of the bills which say that mo
stock corporation formed ny the combination Of
the business of two or more persons for the pur
pose OF restricting or preventing competition in
the supply or price Of any article or commodity Of
common shall be authorized 10 do business in
this State" He said: Every corporation well
as every partnership, is formed by the combination
OF two more persons, and necessarily has the
effect Of preventing competition between the per
that do not exaggerate when say that the effect
Of this language Is expressly TO prohibit every for
egn corporation from purchasing, manufacturing
and selling goods In the State OF New York. These
bills Will work hardships on invested capital which
~ not only unjust those holding their stock, but
will also be reactionary on the State Itself They
will drive from II capital which would otherwise.
through it's activity, add 20 the wealth happiness
and prosperity Of the people of this state The bill
which imposes upon these corporations the duty Of
revealing their books. adding 10 the present liabl
ity of officers, directors and Stockholders would
tend very strongly TO drive from the State their
industries and fruits
Senator Lexow-You criticise the first Of these
bills for compelling foreign corporations to do what
domestic corporations are now required to do un-
der the present law.
Mr. Collin-I must differ with you In that con-
cusion. The present law makes no definition of
what shall constitute a combination n competi-
ton and therefore. leaves it TO the construction
Of the court.
Senator Lexow-Then you do not agree with the
general claim that these bills mean nothing. are
not effective but think that under their provisions
trusts cannot exist in New-York?
Mr. Con-1 think that their effect will be 10
Keep foreign corporations from doing business in
this State. Instead of being simply effective they
sweepingy disastrous In their effect
The hearing was here adjourned until tomorrow
morning