Decorah public opinion. (Decorah, Winneshiek County [Iowa]) 1895-1928, 1899-09-27

that Governor McMillin stated the
committee ON resolutions would be
ready to report at IL o'clock and asked
that the conference take a recess.
Resolutions Presented.
On reassembling Mr.. McMillin 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
and papers, in lieu of all of them, sub
NIT the following, with the recOmmen-
dation that it be adopted by this con-
ference: That we believe the best
present available remedies lie along
the following lines:
First The enactment and enforce
ment both by the several states and
the nation of legislation that shall
adequately and fully define as crimes
any attempted monopolization or re-
straint of trade in any line of indus
trial activity. with provisions for ade-
quate punishment, both of the individ-
ual, or the corporation, that shall be
found guilty thereof; punishment to
the corporation to extent of it's disso-
luton.
For Control OF Corporations.
Second. The enactment by each of
the states of the union of legislation
for the adequate and proper control
and regulation of corporations, char
tered by that state, and we recon-
mend as efficacious a system of re-
ports to, and examination by, state au-
thority of the corporations organized
under it's laws, to the end that they
be brought to a fair observance of the
laws under which they are created.
Third. 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 ap-
plicable to the domestic corporations
of that state, and to this end we rec
ommepd legislation that would make
it mandatory upon corporations seek
ing to engage in business outside the
state of their creation that they pro-
cure licenses from the foreign state
as condition precedent to their entry
into such state; such license to be
granted on such terms and subject to
such restrictions as will place the cor
poration subject to the same control,
inspection, supervision and regulation
as the domestic corporation Of that
state, and subject to be revocable IL
hn It'll
Prohibited from Other States.
Fourth. The enactment of state leg
islation, declaring that corporation
created In one state to do business ex.
clusively In other states than where
created shall be prohibited from ad-
mission into any state. This propo-
sition is supported by decisions of the
supreme courts Of several states, but
we believe 1t should become legisla-
tive enactment, uniform throughout
the states.
Fifth. That no corporation should
be formed in whole or in part by any
corporation.
sixth. That no corporation shall
own or hold any stock in another cor
poration engaged in similar or COM
petitive business, and that no officer
or director of corporation shall be the
officer or director or the owner of
stock in another corporation engaged
in similar or competitive business,
the object or result of which is to
create trust or monopoly.
Each State Should Pass Laws.
Seventh. Recognizing that trusts
are composed Of corporations, and
that corporations are but creatures of
the law, and can only exist ia the
place of their creation, and cannot mi
crate to another sovereignty without
the consent of that sovereignty, and
that this consent may be withheld
when desired, we recommend as the
sense of this conference that each state
pass laws, providing that no corpora
ton which Is member of any pool or
trust In that state or elsewhere, can
do business in that state.
Resolved, That 1t is the sense of
this conference that all the capital
stock of private corporations should
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 is
sued in excess of the amount actually
paid up as above provided, the share
holders shall be liable to the extent of
twice the face value of the stock held
by EACH"
The resolutions were adopted and
the conference adjourned sine die.