The Daily Texarkanian., 1899-09-25
THE ANTITRUST RESOLUTIONS.

conference-Gov. Benton McMillin
chairman of resolutions commit
tee:
"The committee on resolutions,
to which was referred several reso-
lutions and papers, 10 lieu of all of
them, submit the following, with
the recommendation that it be
adopted by this conference
"That we believe the present
available remedies lie along the fol
lowing lines
l TIE enactment and enforce
meut both by the several states and
the nation of legislation that shall
adequately and fully define as
crimes any attempted mauipula-
tion or restraint of trade in any
line of industrial activity, with pro-
visions for adequate punishment,
both of the Individual or the cor
poration, that shall be found guilty
thereof, punishment to the corpor-
alton to the extent of its dissoIu
ton.
2 The enactment by each of
the states of the Union of legisla-
tion for the adequate and proper
control and regulation of corpora
tions chartered by that state, and
we recommend as efficacious a sys-
TEN of reports to and examination
by state authority Of the corpora
tions organized under its laws, to
the end that they may be brought
to fair observance of the laws
under which they are created.
3 The enactment by each state
of laws that will prevent the en-
trance of any foreign created cor
porations into its limits for any
other purposes than interstate
commerce, except on terms that
will put the foreign created corpor-
poration on a basis of equality with
the domestic-created corporation
of the state entered, and subject to
the same laws, rules and regula-
tions of the state that 1t enters
which are applicable to the domes-
tic corporations of that state, and
to this end we recommend legisIa-
tion that would make it mandatory
upon corporations seeking to en-
gage in business outside the state
of their creation that they procure
licenses from the foreign state as a
condition precedent to their entry
into such state; such license to be
granted on such term and subject
to such restrictions as will place
the corporation subject to the
same control, inspection, and SUI
pervision and regulation as the do
mestic corporation of that state,
and subject to be revocable if the
conditions thereof are violated.
4. That enactment of state legis-
iation declaring that a corporation
created in one state to do business
exclusively in other states than
where created shall he prohibited
from admission into any state.
This proposition is supported by
decisions of the Supreme Courts of
several states, but we believe it
should become legislative enact
meut, uniform throughout the
states.
5. That no corporation should
be formed in whole or in part by
another corporation.
6. Thatno corporation shall own
or hold any stock in another cor
poratlon engaged in similar or
competitive business and that no
officer or director of a corpora
tion shall be the officer or director
or the owner of stock in another
corporation engaged in a similar or
competitive business, the object or
result Of which is to create trust
or monopoly
7 Recognizing 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 creation,
and cannot migrate to another
sovereignty without the consent of
that sovereignty and that this
consent may be withheld when de-
sired, we recommend as the sense
of this conference that each state
pass laws, providing that no cor
poration which is a member of any
pool or trust in that state or else
where, can DO business in that
state.
Resolved, That it is the sense of
this conference that all the capital
stock Of privatecorporatonss should
be fully paid either first, in lawful
money or second, 10 property of
the actual cash values Of the