The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1899-09-22
PLANS OF
GOVERNORS
For Putting a Curb on the Growth
of the Trusts.
NO WISH TO CRUSH CORPORATIONS

Tho Resolutions Urge the Enactment
by states and Nation OF Legislation
That shall Define as Crimes Any At
tempted Restraint Of Trade.
St. Louis, Sept 22.--After two DAYS
OF speech making the governors, at
torneys general and other state repre-
sentatiyes who have been holding a
conference here on the invitation Of
Governor Sayers, of Texas. adopted
resolutions outlining the legislation
needed to control the so-called trusts
and combines and adjourned sine die
The recommendations embodied were
agreed to after a long session OF the
committee on resolutions. SO widely
divergent were the views presented for
its consideration that It was after mid
night when the committee was able
to arrive at any conclusion. The whole
matter was then referred to a sub
committee composed OF Governor Nc
Millin, Of Tennessee, and Attorneys
General Smith Of Texas and Camp
bell of Colorado, to put into proper
shape.
In presenting the report of the COM
mittee on resolutions Governor Nc
Millin said he was aware of the fact
that the trusts and combinations in
restraint of trade are in a degree de-
pendable upon federal, state or mu-
nicipal governments for their contin-
uance. He believed il was incumbent
upon the national state and municipal
governments to restrain the operations
OF these trusts and combinations. 1t
is not the object of this conference to
crush corporations nor to interfere
with capital in any legitimate form,
but to regulate them so as to meet the
fair demands of all the people.
The resolutions, which were adopted
without a dissenting vote. make rec
concentrations in substance as follows
The enactment and enforcement both
by the several states and the nation
of legislation that shall adequately
and fully define as crimes any at
tempted monopolization or restraint of
trade with provisions for adequate
punishment, to the extent of the cor
poration's dissolution.
The enactment by each of the states
of the union of legislation for the ade-
quate and proper control and regula-
ton Of corporations chartered by that
state, and we recommend as efficacious
system of reports to, and eXamina-
tion by state authority of the corpora
tlons organized under its laws.
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 in
terstate 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 to this end we rec |
ommend legislation that would make |
1t mandatory upon corporations seek !
ing to engage in business outside the |
state of their creation that they pro- |
cure license from the foreign state, |
subject to be revocable if the condi- |
tions thereof are violated.
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 other state.
That no corporation should be form |
ed in whole or in part by another cor |
pOration.
That no corporation shall own or |
hold any stock in another corporation |
engaged in a similar or competitive |
business, the object or result of which |
is to create trust or monopoly,
We recommend 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 business in that state.
1t is the sense of this conference |
that all the capital stock of private |
corporations should be fully maid |
either in lawful money or in property |
of the actual cash value of the amount |
of the capital stock.