The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1899-02-10
THE ~ANTl.TRUsT BILL
especial to The Messenrer1

tSpecidi 10 Inc M~eSSenger.)
Raleigh, N c.. February s.-There
was a discussion over Stevens anti
trust bill before the house judiciary
committee this afternoon.
James H Pou appeared for the cot
ton milling interest Of the state and for
excepted from section 2 OF the bill,
which provides that IL shall not be law
full for any corporation to enter into
any combination, contract or agree
ment with n other person or persons
in the manufacture Of products. He
said that twenty or thirty mills in
North Carolina had an agreement with
cone & Co. TO SEND that firm their
goods 10 be prepared and labeled for
foreign markets. 4 that for 5 per
cent. of valuation Cone & Co. guaran-
teed collections. In this way small
mills were enabled 10 get the benefit
Of the aggregation of capital. This COM
bination or association is not only ben-
efcial to parties directly interested but
keeps the price of cotton as high as it
is in New York, and is, therefore. help
full TO people generally. He asked that
such interests as lumber and truck
ing be also excepted from the provis-
ions of the bill.
Z. L. Harris, OF Raleigh, and Repre-
sentative Julian asked that jobbers and
retailers be excepted, stating tina if
the bill passed as it stood this business
would be killed in the state. In reply
to a question by Mr.. Stevens, Mr.. Har-
ris admitted hat any bill that put an
end to big trusts and combinations
would nave same effect as Stevens bill.
Mr.. Stevens asked for the passage of
his bill. He declared the democratic
party was pledged in it's platform TO
adopt a measure against trusts. He
said he understood it was whispered
thta the feed trust would assume the
role of political highwaymen and leave
the democratic party if the bill passed.
He said if they wished to do his let
them go.
Representative Rountree said he
would support the bin if it only crushed
concerns like the American Tobacco
Company, but he was afraid it would
ruin combinations of smaller enterprises
which he thought necessary at times
Representative Winston said hi
would support the bill if an amend.
ment was added exempting lumber
trucking and fish and oyster interests
4 Mr.. Stevens said the amendment
would be added.
1 Mr.. Winston objected to the penalt,
clause, which provides that a Nortl
i Carolina merchant buying goods from
: a trust shall not be forced to pay.
e Consideration of the bill is continue,
e until Wednesday, when milling repre-
Y sentatives, jobbers and others will g
before the committee.
There was an important meeting O
b the insurance committee this afternoon
t The new insurance law which will b
presented by the house committee TO
morrow is a voluminous affair. 1t ha
: 100 sections and is Intended to take tn
e place of all existing legislation on thi
d important matter. Leave will be aske
to print the bill. Several other bill
8 were brought before the committe,
One vas to tax all companies as nov
e 2 per cent. on gross premium receipt:
but in case the general agent of tn
y company presents al affidavit that one
i fourth of the entire assets of his prir
cipal are invested in certain invest
o ments in North Carolina the tax ma
Is be 800, and, carrying on this seal
until three-fourths of the assets are in
vested, when the tax and license al
PROFESSIONALLY reduced. This is il
tended to promote investment in tn
l. state, but, as a matter of course, wi
30 not be specially interesting to most
the outside companies which cam
l. change their investments to take az
N vantage of this law although the WI
10 is open should they do so.
20 By recent decisions of the cour
b. a discriminating tax can now be pass
We making domestic companies pay lie
= than foreign companies. This is do
al in many states, as home compani
Id nave also to pay ad valorem tax
state, county and city on holdings. B
ey as the Craig bill will become the la
of this state by which all foreign cor
panies doing business in North Caro-
Ia will become domestic corporatio
J. something of this kind is needed
fasten home institutions already e
III listing and which may be incorporate
49, Charters have been granted already f
several insurance companies in Il
state. Some Of the agents in the lar
he est points in the state wish to have ia
" ed insurance agents to shut out mul
plying of agencies and also to shut c
he small agencies. This has not be
or passed upon. although considered
o. some extent by committee today. \
" Webb, of Asheville, pressed this m;
ed | ter.
of