The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1899-09-21
MADE CRIMINAL.
Organizations For MOnOpOliza-
tiOn or Restraint of Trade
OutlaWed by Resolution of st.
Louis Conference.
PROVIDE PUNISHMENT
For individuals and Dissolution
For the Concern.
A Number of Other Drastic
Measures Are Proposed.
PROVIDE PUNISHMENT

St Louis, Sept z1.-The conference
of governors and attorney generals TO
discuss the trust question was late in
assembling today. After last nights
session the visitors were entertained
until a late hour by prominent St.
Louisans and as a result they were not
up early this morning. The members
of the committee on resolutions tOiled
until after midnight trying to bring to-
gether the widely divergent views pre-
sented. When they finally came to
conclusion the matter was left in the
hands of a committee composed of
Governor Benton McMillin, chairman,
and Attorney Generals Smith and
Campbell to put into proper shape.
At the time set for a resumption of
the session of the conference, the sub
committee was still at work fOrmulat-
ing the resolutions which will be pre-
sented in the shape of recommenda-
tions. Shortly before 10 o'clock when
Chairman Sayers called the conference
to order, there was a very slim attend
ance of both delegates and visitors. He
announced that Governor McMillin sta
ted the committee on resolutions would
be ready to report at IL o'clock and
asked that the conference take a recess
until that time.
on motion of Governor Jones of Ar
kansas, the conference accordingly took
a recess
At II O'Clock the committee on resoIu-
tiOnS asked for further time and the
conference recessed for another hour.
On reaSSembling Mr.. McAIillin pre-
sented the resolutions as adopted by
the committee on resolutions. They are
as follows:
The committee on resolutions to
which was referred several resolutions
n nd in of all of h
nit the following with the recOmmen-
dation that ii be adopted by this con-
ference:
That we believe the best present
available remedies lie along the fol-
lowing lines:
1. The enactment and enforcement
both by the several states and the na-
tiOn 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 extent
of its dissolution.
2 The enactment by each of the
states of the Union OF legislation for the
adequate and proper control and regu-
1atiOn of corporations. chartered by that
state, and we recommend as efHcacious
a system of reports to, and examination
by state authority of the corporations
organized under its laws. to the end
that they be brought to a fair Obser-
vance of the laws under which they are
created.
g. 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
interstate 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 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 Gre
alton that they procure licenses from
the foreign state as a condition pre-
cedent 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
pOratiOn of that state and subject 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 business exclusively in
other states than where created shall
be prohibited from admission into any
state.
This proposition is supported bv de-
cisiOnS of the supreme courts of several
states, but we believe it should become
legislative enactment, uniform through
out the states.
s. That no corporation should be
formed in whole or in part by another
corporation.
6. That no corporation shall own or
hold any stock in another corporation
engaged in a similar or connective
business, and that no officer or director
or the owner of stock in another cor
poratlon engaged in a similar or COM
petitive business, the object or result of
Wh1cn IS 10 create a trust or monopoly.
Z. Recognizing that trusts are usual
" composed of corporations. and that
are but creatures of the
law and can only exist in the place of
their creation and can not migrate to
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 a
Of any pool ,5r 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 should be fully
paid either, first in lawful money; or,
in property of the actual cash
value of the amount of the capital
stock; and that in all private corpora
tions with capital stock provided. the
share holders shall be liable to the ex-
tent OF twice the face value of the stock
held by each
Governor McAIillin in presenting the
resolutions, said he was aware of the
fact that trusts and combinations to
restrain trade are in a degree, always
dependable upon federal, state or
government for their contin-
uance- This is no assemblage,' he
said. ito war on corporations or capital
in any form. The object of these reso-
lutions is, not to crush corporations er
destroy capital. but to regulate them.