The Bourbon news., 1899-09-26
WORK FINISHED.
RESOLUTIONS Adopted By the Anti Trus.
Conference at st. Louis.
NO Corporation Should Hold Amy stock in
another Corporation Engaged in q .
Similar Competitive Business
State Legislation Urg

oT. LOUIS Sept 22-After two days
~of speech making, the governors, at
torneys general and other state repre-
ssentatives who have been holding a
conference here on the invitation OF
Gov. Sayers, of Texas, adopted reso.
lutions outlining the legislation need
ed to control the so-called trusts and
com oines and adjourned sine die.
Following are the resolutions:
THAT we believe the best present
available remedies lie along the fol.
lowing lines:
Il The enactment and enforcement
both by the several states and the ma
tion of legislation that shall adequate
ly and fully define as crimes any at
tempted monopolization or restraint of
trade in any line of industrial activity.
with provisions for adequate punish
ment, both of the individual or the
corporation, that shall be found guilty
thereof, punishment to the corpora
ton to extent of it's dissolution.
50 The enactment of 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 recommend as
eficacious a system of reports to, and
examination by, stare authority of the
corporations organized under it's laws,
to the end that they be brought to a
fair observance of the laws under which
they are re-enacted.
''3. The enactment by such state of
laws that will prevent the entrance of
any foreign-created corporation into
its 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 dOmestic-created corporation OF
the state entered, and subject to
the same laws, rules and regula-
tions of the state that it enters
which are applicable to the do
mestic corporations of that state, and
to this end we recommend legislation
that would make it mandatory upon
corporations seeking to engage IN
business outside the state of their cre-
alton that they procure licenses from
the foreign state as condition prece-
dent 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 control, inspection, super
vision and regulation as the domestic
corporation of that state and subject
to be revocable if the conditions there
of are violated.
Il The enactment of state legisla.S
tion declaring that Z corporation cre-
ated in one state to do business eXclu-
sively in other states than where Gre
ated shall be prohibited from admis-
sion into any state.
This proposition is supported by
decisions of the supreme courts of sew
eral states, but we believe it should
become Legislative enactment, uniform
throughout the states.
IS. That no corporation should be
formed in whole or III part by any cor.
poration.
''6. That no corporation shall own
or hold any stock in another corpora
tion engaged in a similar or competit-
i've business, and that no officer or the
owner of stock of another corporation
engaged in similar or competitive busi-
ness, the object or result of which is
to create trust or monopoly.
80. Recognizing that trusts are usu-
ally composed of corporations and that
CORPORATIONS are but creatures of the
law and can only exist in the place of
their creation, and can not migrate to
another sovereignty without the con-
sent of that sovereignty, and that this
consent may be withheld whcn desir-
ed, we recommend as the sense of this
conference that each state pass laws,
providing that no corporation which is
m ember of any pool or trust in that
state or elsewhere, can do business in
that state.
Resolved, That it is the sense of
this conference that all the capital
stock of private corporations should
be fully paid either first, in lawful
money, or second. in property of the
actual cash value of the amount of the
capital took, and that in all private
corporations with capital stock is
sued in excess of the amount actually
paid up as above provided, the share
ho Of
twice the face value of the stock held
by each"
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