The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1899-10-03
REMEDY FOR TRUSTS.

Louis last week, at which the Cover.
nors OF about q dozen States were pre-
sent, passed the following resolutions
regarding trusts:
That we believe the best available
remedies lie in the following lines:
1. The enactment and enforcement
both by the several States and the ma
ton of legislation that shall ado q1ately
and fully define as crimes any at
tempted monopoliZing 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 corporation
to the extent of it's dissolution.
2 The enactment by each of the
State 8 of the Union of legislation for
adequate and proper control and reg
ulRtion Of corporations chartered by
that State, and We recommend as eff
cacious a system of reports to, and ex-
aminations organized under it's 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 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 COR
poration 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 r ap
plicable to the domestic corporations
of that State, and to this end We rec0m
mend legislation that would make it
mandatory upon the corporations
seeking to engage in business outside
of the State of their creation that they
procure licenses from the foreign State
as a condition precedent to their entry
into such State; such licenses to be
granted on such terms and subject
such restrictions as will place the cor
poration subject to the same control,
inspection, supervision and regulation
az the domestic corporation of that
State, and same to be revocable if the
conditions thereof are violated.
4, The enactment of State legislation
declaring that a corporation created in
one State to do bushes % exclusively in
other States shall be prohibited from
admission into any State.
This proposition is supported by de
cisious Of the Supreme Courts Of sew
ersl States, but We believe it should
become legislative enactment, uniform
throughout the States.
8. That no corporation should be
formed in whole or in part by another
corporation.
6. That no cor Doration shall own or
hold any stock in another corporation
engaged in q similar or competitive
business, and that no cfice or director
of q corporation shall be the officer or
director or tue owner of stock in an.
other corporation Engaged in a similar
or competitive business, the object or
result Of which is to create q trust or q
monopoly.
z. Recognizing that trusts are U.s.
ually 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, and that
this consent may be withheld when
desired, we recommend as the sense of
this conference that each state pass
laws providing that no corporation
which is a member of any pool or trust
in that State or elsewhere, can do bus
mess 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 as, first in lawful money,
or, second, in property of actual cash
amount of the capital stock; that in all
private corporations with capital issued
in excess of amount actually paid as
ABOVE provided, the shareholders shall
be liable to the extent of twice the face
value of the stock held by each.
FILIPINOS CAPTURE AN AMIR
ICAN GUNBOAT.
MANILA Cant Ok A hoak'a cPow