The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-09-22
Plans Are Decided Upon at Confer
ence In st. Louis.
REMEDIES ARE SUGGESTED
Governors AND ATTORNEY GEN
ERALS COMPLETE WORK.
Propose to Enact Laws That VIII
Regulate Evils of Great Combines
Define AS Crimes Attempted
Monopolization of Trade In Any
Line of Industrial Activity.

st. LOUIS Sept. 21.-After two days
of speechmaking the governors. attor-
ney generals and other statesmen who
have been holding a conference here by
invitation of Governor Sayers of Texas,
adopted resolutions outlining the legis-
1ation needed to control the so-called
trusts and combines and adjourned
sine die.
The resolutions embodied were agreed
to after a long session of the commit
tee. SO widely divergent were the
views presented for its consideration
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 McMillin of Tennes-
see and Attorney Generals Smith of
Texas and Campbell of Colorado to
put into proper shape.
The conference was to have met at 8
o'clock, but it was noon before it got
resolutions was not ready to report I'M
til then.
Governor McMillin, chairman of the
committee on resolutions, presented
the report of the committee. 1t was as
follows:
Report of the Committee.
1.-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-
dation that it be adopted by this con-
ference. That we believe the best pres
ent available remedies lie along the fol-
lowing lines:
Enactment and enforcement by the
several states and the nation of legis-
lation that shall adequately and fully
define as crimes any attempted monop
olization or restraint OF trade in any
line of industrial activity, with provis
ions for adequate punishment, both of
the individual or the corporation, that
shall be found guilty thereof; punish
ment to the corporation to the extent
of dissolution.
1.-The enactment by each of the states
of the Union of legislation for the ade-
quate and proper control and regula-
ton of corporations, chartered by that
state, and we recommend as efficacious
a system of reports to and examina-
ton by state authority of the corpora
tons organized under it's laws, to the
end that they be brought to a fair OBJ
servance of the laws under which they
are created
od1 GOIc1SA SOA pOIdJlOllS.
1.-THE enactment by each state of laws
that will prevent the entrance of any
foreign created corporation into it's
limits for any other purpose than in
terstate commerce, except on terms
that will put the foreign-created corpo-
ration 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
that it enters, which are applicable to
the domestic corporations of that state
and to this end we recommend legisla-
ton that would make it mandatory
upon corporations seeking to engage in
business outside the state of their ere
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, supervis-
ion and regulation as the domestic cor
of that state, and subject to
be revocable, if the conditions thereof
are violated.
Confne to One State.
THE enactment of state legislation,
declaring that 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
several states, but we believe it should
become legislative enactment, uniform
the states.
THAT no corporation should be
formed in whole or in part by another
That no corporation shall own or
hold any stock in another corporation
engaged in a similar or competitive
business, and that no officer or director
Of a 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
Creatures of the Law.
BY recognizing that trusts are usu-
ally composed of corporations, and that
are but creatures of the
aw and can only exist in the place of !
heir creation, and cannot migrate to
another sovereignty without the con-
sent of that sovereignty, and that this |
consent may be withheld when desired 4
We recommend as the sense of this con-
erence that each state pass laws pro-
fiding that no corporation which is a |
member of any pool or trust in that
state or elsewhere can do business in
hat state.
Resolved. That it is the sense of
his conference that all the capital /
took of private corporations should be |
ully paid, either first in lawful money.
II, second, in property of the actual /
ash value of the amount of the capt.
al stock, and in all private corpora !
ions with capital stock issued in ex-
ess of the amount actually paid UP as
Dove, provided the shareholders shall
'e liable to the extent of twice the face
-alue of the stock held by each"
Governor Savers then put the uues-
ion and the resolutions were adopted
Without q dissenting voice
It Never Disappoints.
naa,,ln ,r.hn are troubled 1.ritl -.