The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-09-22
REGULATION OF TRUSTS
Stringent Measures Urged by
the Conference.
NOT TO DESTROY CAPITAL
No Intention to Crush Corporations-An
Attempt to Curtail Menaclng EVIL.
Agricultural Classes Must Be
Protected

St Louis, Sept 21.-After two days of
speechmaking the governors, attorney
generals and other statesmen who have
been holding a conference here by invi-
tation of Governor Sayers of Texas
adopted resolutions outlining the legis-
lation needed to control the so-called
trusts and combinations and adjourned
sine die. The resolutions embodied We're
agreed to after a long session of the
committee. So widely divergent Were
the views presented for its considera-
ton that it was after midnight when
the committee was able to arrive at
any conclusion. The whole matter was
then referred to a subcommittee COM
posed of Governor Mcmillan Of Ten
nessee and Attorney General Smith OF
Texas and Campbell of Colorado to put
into proper shape. The conference was
to have met at o'clock, but it was
noon before it got down to business, as
the committee on resolutions was not
ready to report until then. The delayed
regrets Of the attorney generals We're
read and then Governor Mcmillan,
tions, presented the report of the COM
inittee.
THE committee on resolutions. TO
which was referred several resolutions
and papers, in lieu of all of them sub
NIT the following with the recommen
dalton that it be adopted by this con-
ference:
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
islation that shall adequately and fully
define as crimes any attempted monop-
olies or restraint 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 dis
solution.
THE enactment by each state of the
union of legislation for the adequate
and proper control and regulation of
corporations, chartered by that state,
and we recommend as efficacious a sys
ITEM of reports to and examination by
state authorities of the corporations or
ganized under dts laws to the end that
they be brought to fair observance
of the laws under which they are Gre
ated
1.-THE enactment by each state of laws
that will prevent the entrance of any
foreign created corporation into its
limits for any other purpose than inter
state commerce, except on terms that
will put the foreign created corporation
on a basis of equality with the domes-
tic created corpora ton of the state en-
tered, and subject to the same laws,
rules and regulations of the state that
it enters, which are applicable to the
domestic corporations of taat state and
to this end we recommend legislation
that would make it mandatory upon
corporations seeking to engage in bust
ness outside the state of their creation
that they procure license from the for
eign state as condition precedent
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, supervision and
regulation as the domestic corporation
of that state, and subject to be recov-
cradle if the conditions thereof are VIC
lated
THE enactment of state legislation
declaring that a corporation created in
one state to do business exclusively in
other states than where created shall
be prohibited from admission into any
state. This proposition is supported by
decisions of the supreme courts of sew
eral states, but we believe it should be-
come legislative enactment, uniform
throughout the states.
That no corporation should be
formed in whole or in part by another
corporation
THAT no corporation shall own OF
hold any stock in another corporation
engaged in a similar or competitive
business and that no officers or direc-
tors of a corporation shall be the officer
or director or the owner of stock ir
another corporation, engaged in SINH
lar or competitive business, the object
or result of which is to create a trus
or monopoly.
by recognizing that trusts are usu'
ally composed of corporations and thai
corporations are but creatures of the
law and can only exist in the place OF
their creation and cannot migrate tC
another sovereignty without the con-
sent of that sovereignty and that this
consent may be withheld when desired
We recommend as the sense of this con-
ference, that each state pass laws pro
viding that no corporation which is q
member of any pool or trust IN that
state or elsewhere can do business ir
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 cast
value of the amount Of the capital stool
and in all private corporations with
capital stock issued in excess of tn
amount actually paid up as above pro
yided, the shareholders shall be liab
to the extent of twice the face value o
the stock held by each"
Governor Mcmillan, in presenting III
resolutions, saio he was aware of tn