The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-08-29
Liver Trouble Indigestion and Chronic Consultation for ManxYsa.

signafied an organization by which the
control of several corpora lions was
vested by transfer of stock or other
wise, in central committee or board
of trustees, who controlled or suspended
the work of any of the corporations at
pleasure, and could thus regulate pro-
duction and defeat competition, thus
controlling the prices of the necessaries
and conveniences of life. This surren-
dering of the powers of corporation by
it's own act, to control of a trust, was
an act of legal hari kari, and afforded
ground for a forfeiture of it's charter by
the state. This penalty being invoked
many corporations seeking results not
to be permitted by way of trusts,
formed new corporations of great mag
nitude that swallowed the smaller.
which became extinct. 1t is estimated
that over 500 of these organizations
have been formed that have taken over
the stock Of many corporations, in all
lines of industry, with a capitalization
of billions of dollars. represented by
preferred and common stock. 1t is
believed that the preferred stock rep
resents more in value than the prop
erty purchased, and that the common
stock usually has no real basis of value
Those who sell their plants or stock
to these enterprises, the glib-tongued
promoters who launch the scheme, and
the persuasive bankers who float the
stock of the capitalized venture
are the ones who reap the harvest, while
the gullible ones Of the public who in
vest in the stock are the losers
THE states have made their laws
more explicit than the act of congress.
Nearly all of them have some form OF
law Furnishing trusts, pools or combin-
atoms, and during the last year the
states of Arkansas, Indiana, Kansas,
Michigan, Missouri, New York, North
Carolina and Texas have, by amend
ments made their laws more sweeping
in terms and more severe in penalties.
In considering the course of state
legislation on the subject of combina-
tions. one cannot but be struck with
some Inconsistencies that can only be
explained by the necessities of politics
When it is considered that labor cost
is the very large percentage of every
thing that is made and sold, 1t seems
strange there should be no inhibition
upon organizations that exercise a COM
plete and rhonopolistic control of about
all the trades and exist to maintain the
price of wages or to increase them. We
read no enactment and hear no denun-
citation of combinations that, by most
drastic methods, frequently bringing
widespread ruin in their train, add
largely to The cost of both the convent
ences and necessaries of life. Statutes
afford many strange contrasts but none
more remarkable than this-that COM
binations may exist and be fostered to
advance to the consumer the cost Of
labor, but organizations to advance the
price of the finished article are to be
punished with severity. The reconcil-
ing of these inconsistencies and the at
tempted enforcement of the state laws
solving the most absorbing problems
will he +nI ,,,tNI. i,,t1
interest. The earnest hope of every
patriot will be that those who write the
law, those who construe its meaning,
and those who enforce it will be guided
by the light that will come from calm.
deliberate investigation, and not be
swayed by the catch phrases of the po-
litiCal demagogue.'
In connection with his address, Sena-
tor Henderson read letter from
President Choate, under date of Lon
don, Aug. II. In speaking of the study
of comparative legislation, which is
now in progress between the United
States and most enlightened foreign
nations, Mr.. Choate said:
THE laws delays. which seem to be
constantly on the increase, may well
engage the earnest attention of the as
ISOLATION and no opportunity should be
lost to Counteract the inevitable ten
dency to elaborate procedure and I'M
necessary multiplied appeals, which
cause a large proportion of these de-
lays"
The acting president was instructed
by resolution to cable Ambassador
Choate extending the greetings of the
association and regretting his absence.
Adolph Moses of Chicago presented
the memorial of the Illinois bar asso-
citation for the creation of John Mar
shall day, Feb. 4, 1901.
The chair was instructed by resolu-
ton to appoint committee of ID on the
subject.