The Forrest City times., 1899-09-29

iieve that there is any harm coming TO
our country. lie said he uidnt beIieve
the corporations have secured the DAN
serous power so often aserlbed TO them.
and that the states are stll masters OF
these organizations. Moreover, ne Woulu
MOI join in the criticisms SO frequently
passed upon Ine courts, for he did no;
mink they merited as much. lie did not
know OF any ruling TO the effect that the
states could not regulate corporations lie
sald ne was against trusts, however, be-
cause they drive small shopkeepers ana
small dealers out OF business. tie believed
IL wound be best Tor individuals TO own
business rather than the trusts.
Att'y.-Gcn. Nolan of Montana.
Atty.-Gen. Nolan of Montana said he
would annihilate trusts IL he could. Their
success means the extinguishment of in
dlvidual opportunities. 1t means employ
ers and employees Soiely ana the desJruc-
ton of the middle classes.
Atty.-Gen. Oren oil Michigan.
Atty.-Gen. Oren of Michigan explained
the corporation Jaws of that state at con-
sideIa able length. lie recommended the
encouragement of home industrial cor
porations, even to the extent of allow
ing them to pay a specific tax in place of
all actual property-value tax, and their
protection from being absorbed by for
elBn corporations desiring to DO business
outside OF the states where they were
the full amount OF their capital.
Atfy.-Gen. smith of Texas.
Atty.-Gen. Smith of Texas said that
there was nothing political about the con-
ference, and he was sorry any thought of
going home before it's work was con-
ciuaed. lie then discussed unlfofm cor
poration laws and favored policy which
would compel every corporation doing
business in state to have bona fide
ONCE there for the transaction of bust
ness.
AT p. m. a recess of an hour and half
was taken, after the conference had ac-
cepted an invitation rendered by eX-Gov.
Francis on behalf OF the Country club to
dine with the club members Thursday
evening.
Gov. Pingree's Speech.
After Gov. Sayers called the evening
session to order at S:45 he introduced
Gov. Pingree of Michigan as the speaker
OF the evening. Gov. Pingree delivered a
speech, which he read from manuscript.
His address was. in the main, a review of
the work of the Chicago conference, in
which the speaker took occasion TO reply
to Bourke Cochran. whom he styled the
defender of trusts" He said in part:
AT the Chicago conference the trust
was ably and skillfully defended by
learned lawyers and representatives of Its
interest like Cochran, and was as ably
arraigned by equally eminent representa-
tives of the interests of the people like
William j. Bryan. The speeches of Bryan
and Cochran represented, respectively, the
indictment and defense of the trusts.
Cochran said the trust was the natural
evolution of forces that could not be con-
trolled nor checked. Bryan declared the
trust was the result of conditions made
by man, and, as such, could be checked
and controlled by human agency Cock
ran placed the dollar above man, Bryan
the man above the dollar. Cochran repre-
scented selfish interests, Bryan the human
itarian.
The trust Is a monster. 1t has no con-
cience. There are no good trusts. HUI
man nature makes such a thing impossi.
Die. The trust will not better the condi-
ton OF the people, nor raise wages, until
compelled to do SO, and 1t can not be COM
PEELED because 1t is monopoly. The trust
concentrates wealth. On the other hand
1t destroyes the equality of opportunity
prevent monopoly, and the trust will
die natural death.
Our first duty is to so arrange matters
That the attention of congress can be
called to this evil in such a way that It
will enact suitable law to destroy it."
After the resolution was read IL was re
ferred by the chairman to the commit
tee
Chairman Sayers, upon motion. adj
journed the meeting until Thursday morn
ing at nine O'Clock.
st. Louis, Sept. 22.-At the ad iourned
session of the conference of governors
and attorney generals, the committee
on resolutions made the following re-
port, which, with a supplement by At
t'y.-Gen. Smith of Texas, and Atty.
Gen. Crow of Missouri, was unanimous
ly adopted:
The committee on resolutions. to
which was referred several resolu-
tlons and papers, submit the following
with the recommendation that it be
adopted by this conferences:
I,
lines:
Il, The enactment and enforcement both
by the several states and the nation of
legislation that shall adequately and fully
define as crimes any manipulation or re-
straint of trade in any line of Industrial
activity, with provisions for adequate
punishment, both of the individual or the
corporation, that shall be found guilty
thereof; punishment to the corporation
TO the extent of its dissolution.
q The enactment by each of the states
OF the Union of legislation for the ade-
quate and proper control and regulation
OF corporations chartered by that state
ana we recommend as efficacous a sys-
tenn or reports to and examination by
state authority of the corporations or
gGnlzed under its laws. to the end that
they be brought to a fair observance of
the laws under which they are created
3. The enactment by each state of laws
mat VIII prevent the entrance of any for
elgh-created corporation into it's limits
commerce, except on terms that will put
the foreign-created corporation on a basis
OF equality with the domes tic-created cor
pofatlon or the state entered and subject
10 the same laws, rules and regulations
OF the state that 1t enters, which are ap-
plleable to the domestic corporations OF
mat state, and TO this end we recommend
legislation that would make ii mandatory
upon corporations seeking to engage in
business outside the state of their crea :
loh mat they procure licenses from the
foreign state as a condition precedent TO
thelr entry into such state: such license
10 be granted on such terms. and subject
TO such restrictions as will place the cor
poratlon subject to the same control in
spectlon, supervision and regulation as the
domestic corporation of that state. ami
suJect TO be revocable If the conditions
thereof are violated
4. That enactment of state legislation
declaring that corporation created i'm
one state to do business exclusively in
other states than where created shall he
prompted from admission into any state
This proposition is supported by dec
sions of the supreme courts of several
states but we believe ii should become
IeglsiatVe enactment, uniform through
out the states -
.. Ihat no corporation should he
formed In whole or in part by another
corporation.
ask THAI