The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1899-01-19

agency at one or the other of Mr.. Dill's
bureaus. The bureaus represented by the
East Orange lawyer are.-The New Jer-
sey Registration Company OF East Or
ange The Corporation Trust Company OF
Jersey City and The New Jersey Corpor-
alton, Guarantee and Trust Company OF
Camden Senator Allan l.. McDermott
is president of the Jersey City bureau.
There is no lawyer in the State that
comes anywhere near doing the corpora
ton business that is done by MI. Dill,
although in Jersey City and Newark
there are many lawyers who make a Spe-
cialty of this line.
1t is estimated that there are upward OIL
10000 New Jersey corporations. Each
year the Governor by proclamation, wipes
out from 800 to 800 corporations because
of their ailur to pay their taxes. Last
charters under the Governors proclama-
ton. OF 10, LOCO companies, only about
one-half are subject to a State tax, the
have fifty per cent of their stock EN-
ployed in the State in mining or manu-
featuring. Last year the total number of
these miscellaneous corporations assessed
was 5,l5S and the aggregate capitalization
of these assessable companies was over
81, $40, 600, 600.
The companies exempt because of the
stock invested here are chiefly the smaller
ones, having authorized capital stock in
the neighborhood of S200, 600. None of the
big trusts incorporated under the laws OF
Liz a Ids v OAi ~ Z ot1oON
and put up large. works here. although
some few have absorbed plants ALREADY
in existence. The American Cotton OIL
200, eco, Geo, has less than $500. 700 invested in
New Jersey. The book trust, Incorporated
as The American Book Company, with
penny invested here. The Ameriea..
Mailing Company, with a capital OF
SIG. eco, 900. has noting invested in the
State.
sos Oc0 oAo has nothing invested in the
Company, with a capital stock of $685.
$500; the Glucose Sugar Refining Conn
pany. with an authorized capital OF
$4,000, Gee: the National Lead Company,
the lead and linseed oil trust. with a
capital stock OF $50, 0o0, 900; the STANDARD
D.stiHing and Distributing Company,
which last week absorbed the Westener
Whiskey trust, known as the Spirits Dis
tributing Company, also a New Jersey
corporation. and now substantially. con-
trolls all the distilleries in the United
states. with a capital stock of S24. 900, 600;
the Standard Rope and Irvine Company,
with a capital stock of si2.0 600; he
capital stock of S125. 051, SEQ; the Union
Typewriter Company, with a capital
OF $50. 600, 600; the Federal Steel Company.
with a capital stock of $500, 900, 600; the
American Linseed Company, with a cap
ital stock of $4,000, 600: ~ternauon Sill
verware Company, with a capital stock
of 5000 600; National Biscuit Company,
with a cpaitaI stock of $50. 600. 000: OtIs
Elevator Company, with a capital of
S11, COO, coo; the United Breweries Company,
with a capital stock of S.. 900. 600; Con-
tinental Tobacco Company, with q zap
ital stock of $l5,0O0,O00: American indles
Company, with a capital stock OF
with a capital stock of SO. 600, 600; the
American Fisheries Company, with a cap
ital stock of $1O,O 0 ego; American steel
a capital stock of $50, 900, 900: Pressed Steel
Car Company, with a capital stock OF
SIS, COG, 000.
as the American Potteries Company
which controls the old pottery pants IN
Trenton. with a capital OF S2i,0uO wy. tne
electric light trust. known as the Eeclrlc
Company of America, with a capital OF
S25, 000, 600; the United Heating and Light,
ing Company, the trust !, 70 oo eo ond. OF
whicn have some capital invested in the
State. The American S9ga& -os R sed
Company. with a capital OF H,oo6, 4gO. mas
considerable property along the tucson
and is said to control a big refinery at
Camden. Less than fifty per cent. OF its
capital. however. is invested in New Jer7
sey. The United States Rubber company
with a capital stock of $39.33o,5OU, mas 300
GOO invested in the State.
There are also many concerns, which
are trusts in their way, Incorporated I'M
der the laws of the State, having notnlng
invested here. such as the American SOFA
Fountain Company, with a capital OF 30
$50. 600: American Steel Casting company,
with a capital of 81, GOO. 600; H. b. Clafiin
Sc. 900, COO: Hecker-Jones-Jewell
Milling Company, 5000 COO; H~erring-Hail-
Marvin Company (now in receivers
hands,. s., Sc, oo0 q. Heywood BTot iNdTp 4
Wakefield. 1909, oOo' Nalional u, Tune WORKS or
Company. $3,001 200. There. are about sew
enty-five companies in the STATE, IN the
miscellaneous corporation class, having d
capital stock of over $4,000, 600, and about
forty per cent of all the corporations
have a capital stock of more thar
81, Oo0. 600.
der the New Jersey laws, is not the pig
trust. but only one of its links. 1t was
originally known as the Standard Oil
Company of New Jersey, and had a capi-
Jersey was dropped from the corporate
title. The pipe line If Incorporated under
another name, being known as the New
York ans Company, and pays tax on
its gross receipts without regard to its
Capitalization. The New Jersey stand
ard Oil Company has issued its Sl0.000 lC0
634. 900 is invested in its plant at Bayonne
and Communipaw, Jersey City
There are many trusts in process of for
nation, such as the chewing gum trust,
the sewer trust and the carbon trust,
which, it is expected, will Incorporate un-
der the laws of New Jersey.
In discussing the corporation law of the
State and its application to trusts, a gen
tleman who has made a close study of
the situation aid to a News repre-
sentative yesterday:-"Trusts can be just
as well formed under the laws of New
York or Pennsylvania as under the laws
of New Jersey. In those States the fees
are, of course, higher, but there is moth
ing in their corporation law to prevent
the trusts gaining an existence there.
The only thing hat can be said against
trusts being formed here is the fact that
such combinations cannot fail to be det-
rimental to the people at large. but this
can Just as well be said about almost
any other State in the Union. There are
only a very few of the States in which
the corporations could not be formed.
The big corporation business in New Jer-
sey is very largely due to the persistent
drumming up of the business by New
York attorneys and the fact that the
legislators of that State residing outside
of New York City are continually tinker
ing with the corporation laws. So far as
New Jerseys laws are concerned, they
have nothing whatever to do with the
formation of trusts. The Corporation law
has virtually been the same in New Jer-
sey since 1875. The trouble is not with
the law, but with the trusts themselves.
1T would be a very difficult task to amend
the Corporation law of the State in a
way to prevent these combinations COM
ing here. And even il it should be done,
they will be able to go to other States
and secure charters