Daily press. [volume] (Newport News, Va.) 1896-current, 1899-09-22
Plans Agreed Upon by Governors
and Attorney Generals.
REMEDY is IN LEGISLATION
Monopolles by Laws Imposing Proper
Restraint. Convention Aajourns
After Adopting Resolutions.
(By Telegraph.)

ST. LOUIS. Sept. 2l.-Thc conference
Of governors and attorney generals to
discuss the trust question was late in
assembling today. The members oi The
committee on resolutions worked until
after midnight trying to bring together
the widely divergent views presented.
When they finally came to Il CONCLUSION
the matter vas left in the hands OF Il
subcommittee composed of Governor
McMillin. chairman. and Attorney
General Smith and Campbell to be put
into the proper shape.
REMEDIES SUGG ESTED.
At II o'clock Mr.. McA1illin presented
the resolutions as adopted by the com :
mittcc on resolutions: They are as fol-
lows: "... 0
The committee on resolutions. to
which was referred several resolutions
and papers, in lieu of all Of them. sub
mits the following With the recommend
dation that it be adopted by this con-
ference: .. .."
THAT we believe the best present
available remedies lie in the following
lines
The enactment and enforcement both
by the several states and the nation
Of legislation that shall adequately and
fully define as crimes any attempted
nonnpolizaton or restraint of trad. in
any line OF industrial activity, Will,
provisions for adequate punishment,
both of the individual and the corp y
ration, that shall be found guilty thert-
Of: punishment to the corporation 1c
The extent of its dissolution.
CONTROL OF CORPORATIONS. .
-. The enactment by each of tEs
states Of the union of Legislation for all
equate and proper control and regula-
ton of corporations chartered by that
state and we recommend as etlicica-
cious system of reports to. and eN-
animation by, state authority of the
re Ia VIC
TO the end that,"they be brought to-,a
fair observance of the laws under Nhtcl
they are created.
g. The enactment by each state Of
laws that will prevent the entrance Of
any foreign created corporation III -
its limits for any other purpose than
interstate commerce.. except on tern. $
that will put the foreign created cor;,o-
ration on basis of equality With do
mestic created corporation of the state
entered. and subject TO the same laws,
rules and regulations Of the state that
it enters which are applicable to the
domestic corporations of that state. and
tG this enQ we recommend legislation
that would make it mandatory upon
corporations seeking to engage in bust
ness outside of the state Of their Gre
alton that they produce licenses from
the foreign state as a condition prcce-
dent 20 their entry into such state; such
licenses TO be granted on such terms
and subject to such restl lotions as will
place the corporation subject 10 the
same control. inspection, supervision
and regulation as the domestic corpora
tiGn o. that state, and same to be re
vocabln if the conditions thereof are
violated.
STATE. LEGISLATION.
T. The enactment of state legi:sla-
ton de.'larinS that a corporation Great
cd in one state to do business exclusive
~ in other states than where created
shall be prohibited from admission into
any state.
This proposition is supported by deci.s-
ions of the Supreme Courts of several
states, but we believe it should be-
come legislative enactment, uniform
throughout the states.
.. That no corporation should be
formed in whole or part by any cor
poration.
&c. That no corporation shall own or
hold any stock in another corporatin
engaged in Il similar or competiLiv2
business, and that no officer or director
Of q corporation shall be the officer or
director or the owner of stock in an
other corporation engaged in Il similar
CT competitive fsIsinesS. the object or
result Of which is to create trust or
II monopoly. ....5 .
Z. RecoGnlZing that trusts are us
ually composed of corporations, ana
that corporations are but creatures OF
the law, and can only exist in the place
or their creation, and cannot migrate
10 another sovereignty without the con-
sent CT 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 corporation which IS
q member of any pool or trust in that
state or elsewhere, can do business in
that state.
AS TO CAPITAL STOCK.
Resolved. That it is the sense Of
this conference that all the capital stock
OF private corporations should be fully
paid either as, first. in lawful money:
or, second. in property of actual cash
amount of the capital stock; that i'll ell
private corporations with capital issued
in excess of amount actually paid as
above provided. the shareholders shall
be liable to the extent of twice the face
value Of the stock held by each.
Governor 'McMiilin, in presenting the
resolutions. said he was aware Of the
restrain trade are in a degree always
dependable upon federal, state or mnu-
cipai governments for their confirm
ance.
This is no aSSemblage," he said, TO
war on corporations or capital in any
form. The object of these resolutions
is, not to crush corporations or destroy
capital but to regulate them. That is
the ohject Of this conference and w.l2n
that is obtained the whole duty will
have been done"
Attorney General Davis. of Arkansas
made Il few remarks in favor Of the
resolutions. in the course of Which Nc
ceporcd the fact that anything hal