The pioneer press. (Miller, Hand County, S.D.) 1893-190?, 1899-09-28

st. Louis, Sept. 23.-Aftfer two days
of speech making the governors, at
torney generals and other state repre-
sentatiyes who have been holding a
conference here on the invitation Of
Gov. Savers Of Texas, adopted resolu-
tons outlining the legislation needed
to control the so-called trusts and COM
bines and adjourned sine die.
The recommendations embodied were
agreed to after a lang session Of the
committee on resolutions. So widely
divergent were the views presented
for its consideration that it was after
midnight when the committee was
able to arrive ut any conclusion The
whole matter was then referred to
subcommittee composed of Gov. Nc
iillln Of Tennessee and attorney gen
arals Smith of fTeXas and Campbell Of
Colorado to put into proper shape
The conference was to have met at
. o'clock, bat it was noon before it got
down to business as the committee OH
resolutions was not ready to report I'M
til then. The delayed regrets Of the
attorney general of Ohio were then
read and the Gov. McMilliu, chairman
OF the committee on resolutions, pre-
sented the report of that committee.
The following are he resolutionS
First-The enactment and enforcement. both
by the several states and the nation. OF legis-
lation that shall adequately and fully define
as crimes any attempted monopolizatlon or
restraint or trade in any line of industrial
activity, with provisions for adequate punish
ment, both of the individual the corpora
ton that shall be found guilty thereof pun
ishment to the corporation to the extent Of
its dissolution
seeond-The enactment by each of the states
OF the Union of legislation for the adequate
and proper control and regulation OF corpora
tions chartered by that state and recon-
mend as efficacious system OF reports to and
examination by state authority of the cor
porations organized under its laws. to the end
that they be brought to a fair observance OF
the laws under which they created.
Third-The enactment by each state oc laws
that will prevent, the entrance OF any foreign
charter cd corporation into it's limits for any
other purpose than interstate commerce, ex-
cept on terms that will put the foregn-cre-
ated corporation on a basis of equality with
the domestic-created corporation OF the state
entered. and subject TO the same laws, rules
and regulations OF the state II enters. which
are applicable to the domestic corporations
OF that state, ard TO this end we recommend
legislation that would make IL mandatory
upon corporations seeking to engage In busi
ness outside the state OF their creation that
they procure licenses from the foreign state
as condition precedent TO their entry iato
such state: such license to be granted on such
terms and subject TO such restrictions as VIII
place the corporation subject to the same
control inspection supervision and regulation
as the domestic corporation Of that state. and
subject to be revocable II the conditions thereof
are violated
Fourth-The enactment OF state legislation
declaring that corporations created In one state
to do business In other states than where ere
ated shall be prohibited from admission into
the state.
This proposition is supported by decisions OF
the supreme courts OF several states but we
believe IL should become legislative enact
ment uniform throughout the states.
Fifth-That no corporations should be formed
in whole or in part by another corporation.
Sixth-That no corporation shall own hold
any stock In another corporation engaged In q
similar or competitive business and that
officer or director OF corporation shall be the
officer or director OF corporation or shall be
the owner OF stock in another corporation en-
gagged in similar or competitive business. the
object or result Of which is TO create trust
monopoly.
Seventh-Recognizing that trusts are usually
composed OF corporations and that corporations
are but creatures of the law and can only exist
in the place OF their creation and cannot MI
crate to another sovereignty without the con-
sent of that sovereignty. recommend as
the sense OF this conference that each state
pass laws providing that no corporation which
Is member OF any pool or trust in that state
or elsewhere can do business in that state.
Resolved, That IT is the sense of this confer
ence that all the capital stock OF private cor
porations should be fully paid. either first in
lawful money, Or second. in property OF the
actual cash value Of the amount of the cap tai
stock. and that in all private corporations with
a capital stock issued In excess Of the amount
actually paid UP above pro vided. the share
holders shall be liatie TO the extent of twice
the face value OF the stock held by each.