The daily morning journal and courier., 1899-09-22
REMEDIES FOR TRUST EVIL
RECOMMENDED BY
 ST. LOUIS CONFERENCE.

State and National Action Aimed at-.
 Business in the Different states-A
 Resolution That All the Capital Stock
 Private Corporations be Fully Paid.
 St. Louis, Mo, Sept. 21.-The confer
 ence of governors and attorneys general
 to discuss the trust question was ex-
 tremely interesting to-day and the ob-
 Ject for which it was called was accom-
 plished in the afternoon, when the fol-
 lowing was unanimously adopted:
 The committee on resolutions, to
 which was referred several resolutions,
 and papers, in lieu of all of them sub-
 mits the following, with the recommen-
 dation that it be adopted by this con-
 ference:
 That we believe that the best availa-
 ble remedies lie along the following l lines:
 1.-The enactment and enforcement
 both by the several states and the na-
 ton of legislation that shall adequately and fully define as crimes any attempt ed monopolization or restraint of trade
 in any line of industrial activity, with | provisions for adequate punishment, both of the individual or the corpora tion that shall be found guilty thereof; punishment to the corporation to the l extent of it's dissolution.
 2-Enactment by each of the states of the union of legislation for the ade- quate and proper control and regulation of corporations chartered by that state and we recommend as efficacious a sys- | tenn of reports to, and examination by | state authority of, the corporations or | ganized under it's laws, to the end that | they be brought to fair observance of the laws under which they are ere ated.
 S-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 inter- state commerce, except on terms that will put the foreign created corpora tion 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- tion that would make it mandatory upon corporations seeking to engage in business outside the state of their crea- tion that they procure licenses from the foreign state as a condition precedent to their entry into such state; such li- cense 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 revoca- ble if the conditions thereof are vio- lated
 Fourth-The enactment of state leg islation, declaring that a corporation created in one state to do business ex- cluslvely in other states than where cre- ated shall be prohibited from admission into any state.
 This proposition is supported by de- csons of the supreme courts of several states, but we believe it should become by legislative enactment uniform throughout the states.
 Fifth-That no corporation should be formed in whole or in part by any other corporation.
 Sixth-That no corporation shall own or hold any stock in any incorporation engaged in similar or competitive bus mess and that no officer or director of corporation shall be the officer or the part owner in another corporation en- gagged in similar competitive business, the object or result of which is to cre- ate trust or 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 migrate to 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 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 conference that all the capital stock of private Corporations shall be fully paid either, first, in lawful money; or second, in property of the actual cash value of the amount of the capital stock; and { that in all private corporations with capital stock issued in excess of the amount actually paid up as above pro- vided, the shareholders shall be liable to the extent of twice the face value of tbe stock held by each
 Attorney General Campbell of Colo rado moved that committee of five be appointed to formulate bill along the line of the resolutions adopted and that each governor present it to his legisla- ture and recommend it to the chief ex- ecutives of other states. MT. Heifner of Washington and Governor Jones of Arkansas objected to this on general principles and the motion was lost. Chairman Savers made short address, telling of his disinterestedness in calling the conference. He said he did not be- liGve the trust was q question of poli- tics, but one purely of patriotism. Sec retary Moore promised to have copy of the proceedings furnished to the governor of every state in the union. The conference then adjourned sine die.
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 Eorestcrs Fight.
 Worcester, Mass, Sept. 21.-Court of the F. of A. had hot