Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-09-22
Important Step Taken Toward Reg
ulating Trusts and Combinations.
RESOLUTIONS
rhc object |. MOTTO Crush Corporn-
tions or capital, but TO Regulate
Them men,nr which Ills Pros
posed TO Have Enacted Into Law
ofSiNtcs mud Nation.

tBy Telegraph to Vir~!nIan-Pilot.)
St. Louis, Sept al.-The conference of
Governors and Attorney Generals to
discuss tho trust question, was late in
assembling to-day. The members OF
the Committee on Resolut ions worked
until after midnight trying to bring to-
gether the widely divergent views pre-
scented. When they finally came TO Al
conclusion the matter was left in the
hands OF IL Subcommittee composed of
Governor Benton McAlillin, chairman
and Attorneys General Smith and
Campbell TO be put into the proper
shape.
AT IL O'clock Mr.. McMililn presented
the resolutions as adopted by the Com
mittee on Resolutions. They are MS fol-
lows
"'rhe Committee on Resolutions to
which was referred several resolutions
and papers, in lieu of all of them, sub
mts the following with the recommen-
dation that it be adopted by this con-
ference:
That we believe the best present
available remedies lie in the following
lines:
/. The enactment and enforcement
both by the several states and the ma
ton of legislation that shall adcquate-
~ and fully define as crimes any at
tempted monopolization or restraint OF
trade in any line of Industrial actlvi-
~, with provisions for adequate pun-
iShmcnt, both of the individual or the
corporation. that shall be found guilty
thereof; punishment to the corporation
to the extent of Its dissolution.
.. The enactment by each of the
states of the Union of legislation for
adequate and proper control and repu-
iation OF corporations chartered by
that State, and we recommend as eff
hcacious Il system of reports to, and
examination by, State authority os the
corporations organized under lis laws,
to the end that they be brought to a
fair observance of the laws under
which they are created
.. The enactment by each State Of
laws that will prevent the entrance of
any foreign created corporation into
lis limits for any other purpose than
Interstate commerce, except on terms
that will put the foreign created cor
poration on basis of equality with the
domestlc-created corporation of the
State entered. and subject to the same
laws, rules and regulations of the
State that ii enters. which are applica-
Bile to the domestic corporations OF
that State, and to this end we recon-
mend legislation that would make II
mandatory upon corporations seeking
to engage in business outside of the
otale Vi tneir creation that they DrO-
cure licenses from the foreign State as
condition precedent to their entry
into such State: such licenses to no
granted on such terms and subject Ia
such restrictions rs Will place the cor
poration subject to the same control
inspection, supervision and regulation
as the domestic corpora ton OF that
State. and same to be revocable If ibe
conditions thereof are violated.
4. Inc enactment of State 1ncisya
ton, declaring that corporpt ion
created in one State to do business ex-
clusvely in other States than where
created shall be prohibited from adj
mission into any State
This proposition Is supported by de-
cisions OF the Supreme Courts or say
eral States. but We believe It should he
come legislative enactment. uniform
throughout the States
6. That no corpora ton should be
formed In whole or In part by another
corcoration.
6. That no corporation shall own or
hold any stock in another CONFORMATION
engaged In n similar or comnetitiye
business, and that no officer or director
of corporation shall be the officer or
director or the owner of stock in an
other corporation engaged in a similar
or competitive business, the object or
result Of which Is to create a trust or
monopoly. Is ~ :. !.
q Recognizing that trusts are usually