The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-09-22
SAVERS FIGHT ON MONOPOLY.
STRONG ANTITRUST RESOLUTIONS
ADOPTED AT ST. LOUIS.

| ere Present, All Voted for Them.
State Legislation to Keep Out For
eign Corporations and to Control
Those at Home, Is Recommended.
| Provision Also Recommended
Against Natcred stocks.
ST. Louis, Sept. 21-The conference of
Governors and attorneys general to dis
! cuss the trust question, was late in as
! sembling to-day.
The members of the committee on res
| olutions worked until after midnight try
| ing to bring together the widely divergent
/ views presented. When they finally came
| 10 conclusion the matter was left in
| the hands of a subcommittee composed
of Gov. Benton McMHln, chairman, ana
Attorneys General Smith and Campbell,
TO be put into the proper shape At II
! o'clock Mr.. McMiHin presented the reso-
| lutions as adopted by the committee on
resolutions. They are as follows:
THE committee on resolutions, to which
was referred several resolutions and pa
pers, in lieu of all of them, submits the
following, with the recommendation that
it be adopted by the conference:
The Remedies Sugg ested.
THAT we believe the best present avail
able remedies lie in the following lines:
First. The enactment and enforcement.
| both by the several states and the nation
| Of legislation that shall adequately and
| fully define as crimes any attempted mo-
| nopolization or restraint of trade in any
| line or industrial activity, with provisions
| for adequate punishment, both of the in
| diVldual or the corporation. that shall he
| found guilty thereof; punishment to the
| corporation to the extent of its dissolu-
| ton
Second. The enactment by each of the
| states of the union of legislation for ade-
| quate and proper control and regulation
| OF corporations chartered by that state
| and we recommend as efficacious a system
! OF reports to and examination by state au-
| thority of the corporations organized I'M
| der its laws TO the end that they be
| brought TO a fair observance of the laws
| under which they are created.
Against Foreign Corporations.
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 com
| merce, except on terms that will put the
| foreign-created corporation on a basis of
! equality with the domestic-created corpora
| ton of the state entered, and subject TO
| the same laws, rules and regula tons of the
| Stdtt l4ldl IL enters winch are aDnl1CaDhe 10
| the domestic corporations of that state and
| to this end we recommend Legislation that
would make ii mandatory upon CORPORA tons
| seeking to engage in business outside of
| the state of their creation that they pro-
| cure licenses from the foreign state as
| condition precedent TO their entry into
| such state; such licenses to be granted on
| such terms and subject to such restrictions
| as will place The corporation subject to the
| same control inspection, supervision ana
| regulation as the domestic corporation of
| that state, and same to be revooabie if the
! conditions thereof are violated.
| Fourth The enactment of state legs
! ladon, declaring that a corpora ion created
| in one state to do business exclusively in
| other states than where created shall be
| prohibited from admission into any other
| state This proposition is supported by
decisions of The Supreme Courts of several
states, but we believe ii should become
legislative enactment uniform throughout
! the states.
To stop Combinations.
'Fifth. That no corporation should be
formed in who.e or in part by another cor
| pora lion.
sixth That no corporation shall own
| or hold any stock in another corporation
| engaged in a similar or competitive bust
! ness and that no officer or director of a
| corporation shall be the officer or director
! or the owner of stock in another corpora
! ton engaged in d similar or competitive
business, The object or result of which is
| to create a trust or a monopoly
Seventh. Recognizing that trusts are
usually composed of corporations, and
| that corporations are but creatures of the
| law. and can only exist in the place of
! their creation, and cannot migrate to an
| other sovereignty without the consent Of
! that sovereignty, and that this consent
| may be withheld when desired, we rec
ON 4 DC n n conference
| 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.
After Watered stock.
Resolved That it is the sense Of this
| conference that all the capital stock of
| private corporate should be fully paid
| 10. either in lawful money or in property
/ OF actual cash amount of the capital
| stock; that in all private corporations
| with capital issued in excess of amount
! actually paid as above provided, the share
holders shall be liable to the extent of
twice the face value Of the stock held by
| each"
| Gov. Mcmillan, in presenting the resolu-
! tons. said he was aware of the fact that
| trusts and combinations 10 restrain trade
| are in a degree always dependent upon
| federal state or municipal governments
! for their continuance.
! war on corporations or capital in any
! form The object of these resolutions Is,
| not to crush corporations, or destroy cap
| ital. but to regulate them That is The
whole OBJECT Of this conference, and when
that is obtained the whole duty viii have
| been done"
Attorney General Davis Of Arkansas
made few remarks in favor Of the res
olutions. in the course of which he de-
plored The fact that anything had come
up during the conference 10 mar the har-
| mony Of les proceedings.
Unanimously Adopted.
Chairman Savers then PUT the question
! and the resolutions were unanimously
| sdonted by the representatives, Of the
| states remaining, Gov. Shaw Of Iowa ana
| GOV. Thomas of Colorado, and Attorney
| General Taylor of Indiana having gone
home last evening, leaving only eight
| states represented.
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