Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1899-09-21

Conference Of omcisi. to Di.eus. the Trust
Question.

81. Louis. Sept. 2i.-Thc conference Of
governors ana attorney generals 10 dis-
cuss the trust question was late In as
FgmhlIug today,
The members of the committee on
resolutions tollod until after midnight
trying Co bring torvthor the widely di-
ygfgUut views presented. when they A.
uuIly came 10 a. conclusion the matter
was Loft iu che hands uf "a nuh-cum-
mlfiUs composed OF Governor Benton
MuM.lln. chairman. and Attorneys
GUucul Smith and Campbell 10 put In
CO. proper SHAPE. At the iimc set Tor u
resumption of the sessions OF the cone
ference. the subcommittee was Sun az
work formulating the ,iu1lutiunH. which
VIII h' presented in the shape ot rec
concentrations
shortly before 10 o'clock when chair
man fayora called the conference Co ORE
der thCrg was r. very slim attendance ~
both delegates and visitors. liC AM
uuunCed that Gov. McMinin stated tho
committee uu resolutions would De-
ready tu report at n o'clock. and the
conference took a recess until that time.
Al n o'clock the committee on rero-
lutiouH asked Tor further time and tho
conference recessed for another hour.
on rcnHHrmhlinE Mr.. 80 inln pre-
scented the resolutions ~ trcHeut0d by
the committee ON resolutions. They are
uH follows
Tho committee on resolutions. 10
which was referred several resolutions
ana papers iu lieu N all of them. submit
the following with the accommodation
that II be- adopted by this conference:
That we believe the best present
available remedies lie along the follow
Ing lines;
The enactment and enforcement by
the several States and the nation OF leg
lslutlun that shall adequately and fully
define uH crimes any attempted mnnup-
OllEutiou ur restraint % trade On amy
lime ~ industrial activity. with prpyiH-
Ions for adequate punishment both NJ
shall be- found guilty thereof punish.
mout 90 the corporation 20 tho extent
OF its dissolution.
s-Thr enactment by each OF the
States u the Union OF legislation Tor
the adequate and proper control and
regulation of corporations. chartered
hy that state and wr recommend uH
HilunUluua u system ~ reports 90 and
examination by State authority OF the
corporations organized under itH laws
90 the end that they be- brought 90
'llr Observance NJ the laws under which
they ur" created
3-The enactment by each state "
lows that viii prevent the entrance ~
any foreign created corporation into lts
limits Tor any other purpose than inter-
|INNN commerce 'HN|"IN OH NNNNNNH NNNN
win put the foreign created corporation
ou 10 basis Of equality with the domestic
created corporation OF the State on
tered, and subject 10 the same laws.
rules and regulations Of the state that
u vutorH. which are applicable 20 the
domestic corporations ~ that State ana
Co this end we recommend legislation
that would make 10 mandatory upon
corporations seeking 60 engage In bust
ness outside the State ~ their creation
that they procure licenses from the
foreign state ~ o. condition precedent
tp their entry into such States such
llccurD 90 he granted ON such terms and
subject to the same control inspection,
supervision and regulation as the do
nestle corporation Of that State, and
subject Co be- rcyncahlo n the coudl-
tlOns thereof are violated
THE enactment NJ state legislation.
declaring that corporation created Ia
other States than whore created shall
be prohibited from admission into any
state. This proposition a. supported by
decisions of the supreme courts OF Huy-
cral States, but we believe Il should
become legislative enactment, uniform
throughout tho slltos.
6.-Thut no corporation should be-
formed In whole or lu part by another
corporation
G-Thnt no corporation shall own or
huIu any STOCK lu ututhrr corporation ]
engaged in % similar or competitive !
business and that 200 officer or director
" corporation shal De the officer or
director or the uWuor " stock In nnoth- !
or corporation engaged In "a similar or !
competitive business the object or result |
NJ which is 10 create trust or
monopoly.
lily recognising that trusts are |
composed of corpora. lions ana |
that corporations are but crcAi, res III /
the law and can only exist In the place |
of their creation ana cannot migrate |
10 another sovereignty without the conc |
sent ~ that Sovereignty and that this |
consent may be- Withheld when desired. |
we recommend nH the sense Of THIS con. |
ference that each State pass laws pro- /
yldlur that no corporation which IL "A /
momhor of amy pool or trust ln that /
state or elsewhere cnn DO business In |
that State.
Resolved. that II ~ the scnse Of this |
that ull the capital stock ~ .
private corporations should be- fully |
paid either hrlt, On lawful money; on |
second, in property u the actual cash |
value uf the amount uf the capital stock |
and IN an private corporations with n |
capital stock Issued In excess Of Inc |
amount actually paid up AZ above pro. |
yldcd, The shareholders shall be liable
10 the extent ~ twice the face value 81 /
the stock held by each
After remarks by Gov MeMlllln and