The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-09-22
Strong Repressive Measures Recon-
mended for Adoption by Congress
and State Legislatures.
CLOSE OF THE CONFERENCE
REPRESENTATIVES, OF ONLY EIGHT
STATES PRESENT YESTERDAY.
Farewell Speech by the Governor Of
Texas, Whose Efforts to Secure a
Large Attendance Were Fruitless.

/ ST.. LUIS, sept. TWO udys VI
speech-makipg, the Governors, attorneys
general and other state representatives who
have been holding a conference here on the
invitation of Governor Sayers. of Texas,
| adopted resolutions outlining the legislation
| needed to control the so-called trusts and
| combines and adjourned sine die. The con-
| ference was to have met at 8 o'clock this
morning. but 1t was noon before it got down
to business. as the committee on resolutions
was not ready to report until then. The
delayed regrets Of the attorney general Of
Ohio were read and then Governor Nc
MILAN, chairman of the committee on reso-
buttons, presented the report of that COM
mittee. 1t follows:
THE committee on resolutions, to which
were referred several resolutions and pa
pers. In lieu Of all of them. submit the toll
lowing, with the recommendation that 1t be
adopted by this conference:
That we believe the best present avail
able remedies lie along the following lines:
by both the several States and the Nation
OF legislation hat shall adequately and
fully define as crimes any attempted monop7
Of Industrial activity, with provisions for
adequate punishment Of both the individual
and the corporation. that shall be found
ton to the extent Of its dissolution.
"Second-The enactment by each of the
States OF the Union OF legislation for the
adequate and proper control and regulation
OF corporations chartered by that State,
and We as eficaciouS a system
of reports to and examination by state au-
thority Of the corporations organized under
its laws. to the end that they be brought to
a fair observance Of the laws under which
they are created.
'"Third-The enactment by each State Of
laws that will prevent the entrance of any
foreign-created corporation into its limits
for any other purpose than interstate COM
merce, except on terms that will put the
foreign-created corporation on a basis OF
equality with the domestic-created corpora
ton of the State entered and subject to
the same laws, rules and regulations OF the
State that It enters which are amenable
and to this end we recommend legislation
making 1t mandatory on corporations seek
ing to engage in business outside the State
from the foreign State as a condition pre-
cedent to their entry into such State. such
license to be granted on such terms and
subject to such restrictions as will place
the corporation subject to the same. con-
troll, inspection. supervision and regulation
as the domestic corporation and subject to
"Fourth-The enactment OF legislation de-
claring that a corporation created in one
States than where created shall be prohib-
tied from admission into any State. This
proposition is supported by decisions OF the
believe it should become legislative enact
ment uniform throughout the States.
Fifth - That no corporation snould De
formed, In whole or in part, by another
"Sixth~That no corporation shall own or
hold any stock In another corporation en-
gagged In a similar or competitive business,
and that no officer or the owner OF stock In
another corporation engaged In a similar or
competitive business, the object or result OF
which Is to create a trust or monopoly.
ACKNOWLEDGEMENTS that trusts are
usually composed of corporations. and that
corporations are but creatures of the law,
and can only exist in the place Of their ere
alton and cannot migrate to another SOW
ereignty without the consent of that sover-
| eighty, and that this consent may be With
held when desired. we recommend as the
sense of this conference that this state pass
a member of any pool or trust in that State
or elsewhere can do business in that state.
Resolved, That 1t Is the sense, OF this
conference that all the capital stock OF pri-
vate corporations should be fully paid either
first, in lawful money; or, second. In prop
erty of the actual cash value of the amount
corporations with a capital stock issued in
excess of the amount actually paid up as
liable to the extent of twice the face value
Of the stock held by each"
Governor McMillin in presenting the reso-
~lutions. said he was aware Of the fact that
trusts and combinations to restrain trade
are, in a degree. always dependable upon
federal. state or municipal governments for
their continuance. This is no assemblage.''
said he, ito war on corporations or capital
in any form. The object Of these resolu-
tons is not to crush corporations, or de-
stroy capital. but to regulate them. That is
the whole object Of this conference, and
when that is obtained its whole duty will
have been DONE"
Attorney General Davis, of Arkansas.
made a few remarks in favor Of the reso-
buttons, in the course of which he deplored
- st. 49, o-yet-- L-I S.-.--
the conference to mar the harmony Of its
proceedings.
Chairman Sayers then put the question
and the resolutions were unanimously
adopted by the representatives of the States
Thomas, of Colorado. and Attorney General
Taylor. of Indiana, having gone home last
evening, left only eight States represented.
Attorney General Campbell. of Colorado
then moved that a committee Of five be
appointed to formulate a bill along the line
Of the resolutions adopted and that the Gov.
ernors at the conference present II to their
respective Legislatures for enactment, also
recommending 1t 70 the chief executives OF
other States. Governor Jones. Of Arkansas
and Mr.. Heifner. of Washington. made some
objections to this and 1t was lost.
SAYERS'S FAREWELL REMARKS.
Resolutions thanking Governor Sayers fol
his efforts in behalf of the conference were
adopted. Before declaring the conference
adjourned Governor Sayers said:
"Of course 1t goes without saying that
feel very grateful TO you not only for TIT
manifestation Of your esteem and recogni
ton OF the proper discharge OF my duties al
your presiding officer. but l want to expires,
m nskDo s,nssss and ,,s earnest nesp x. Erstat md sns
Sestion which ] felt 1t my duty 70 make 4