The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-04-20
A BUSINESS BAROMETER
Prices Of Commodities and an Index to The
Conditions Existing in the Markets
INTEREST in ANTITRUST LEGISLATION
Merchants Anxious to Have the
Trusts ControlIed--Cotton seed
OIL Rcview-Trnde Notes.


The chief tonic In business circles is the
proposed apti-trust legislation in Texas, The
commercial man is always conservative and
is i1clined to go slow In all radical changes
in laws which affect business. without eS-
rcption tho expression is that the trusts must
be controlled, at least regulated. The bust
re IS mar hopes TO see legislation enacted that
viii relieve him OF many OF the exactons of
the trusts. but would. II lie had his way,
love the proposed new law. ii passed. take
effect three or even six mouths after It's
rassaze. in order to give business time to
adjust itself to new condition. The insu-
rance feature is the one to which the ltrong-
es; objection is urged. and 1t Is believed that
this clause will be greatly modified by amend
mtnts.
The New York journal OF Commerce In an
article on the Regulation of Trusts. afe'
discussing the ruling OF the SUPREME cont
nays;
II is a monstroas proposition that one State
should create corpoi atIons 10 40 business In
other states In violation OF their own laws,
but that is the exact fact today Ana TINS =
called comfy between the States y Is ldl9
for State to enact that tn nominal cdpltdl
suall not exceed the actual Investment Iot
another State Will grant a charter VITA no
sucn uualncation. aud under that Ohartel
3
Union II lis idle Tor a state to enact that no
corporation shall be organized with capital
OF more than one million dollars sOmu otueV
STATE will give charter with no suCh re-
strictlun and the company ORGANIZED win
such a charter. and Win capital OF twenty
millions viii 20 into the stat whlch I'M
poses restrictions and buy up all the cor,
uoratiOns O. giyeu limo of business anu
rlactlcally substitute Onc CORPORATION WIN
SO 0gu 900 capitnl for twenty CORPORATIONS
with miltol each. aud do " IN violation OF
lam ff Z hn ia n
ness claim the privilege Of doing t1is undol
tne clrak OF comitv nj states, and take an
litigation into Federal courts
state regulation ard fed't.u regulation nave
broken down But while the the1rWS 90 our
tliucal institutions are al adverse 70 du
extension Of Federal DON they are al' wv
favor of the extension OF he uower OF the
St4tp4 II would he eutir " Va acto'd with
our uoliticG theories. and with the legal
theories Of corporate rights that prevailed
unit yrrV recently. If Delaware rurporAtions
Nrrr barred OUT Of MASSACHUSETTS, and Now
jersey coruorat'o ps ont Of New York unless
they complied with all the conditions i'm
uGEed b. those State, mon curporaUouS ol
their own creation II " 1uu9 certain tn5'
Federal regulation i9 tutls because 40 liul'
commerce rs intsrstate commerce In Lego
sense state regulation would be effective u
every coronation were required to secure
charter from each state In which Vt seek
u 10 business. or TO submit tself 70 the ron
ditions IMPOSED by the state IN which 4
seeks 10 do business It ig absurd that
state should create a corporation ~ do huFi
ness in every State except itself aud VI y
an cffenee 10 plend comfy between the state
~ behalf Of a CORPORATION organized IN an
State IN violation NJ the laws Of that state
Tne stock EXCHANGE puruort4 t1 exact tptor
nation from ccrnorations that they refuse L
the governments Of the states IN which tho
DO business The phrase Interstate com
merce has been narrowed and the phraR
Of comfy ~ tho States has heen EXPANDED
tn there is practlcally no legal control what
ever Of the huge corporations that are 9b
soa0ing entire lines OF h,Sahancal nroduc