New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-08-29

I.fih
cs s,,,,' phrases Of the political demagoeue
MR. CHOATE ON THE LAWS DELAYS
In connection with his address ex-senator
Henderson read letter from President Choa'''
under date Of London. August II. In spe'N,"S
~ the study OF comparative legislation when
70 now in progress between the United 9'a,'S
and most enlightened foreign nations MI
Choatc says:
Tho laws DELAYS. which seem to he con
stantly on the increase may wei ens@H ,
earnest attention Of the association anu ~ ~ ~
nortunitv should he lost to counteract the j"
s.vitablc tendency to elaborate picce'lui' ON
unnecessarily multiplied appeals, Whi'h CAUSE q"
large proportion Of these delays.
The acting president was instructed by r'so-
lution IN cable 10 Ambassador Choate eN'e""-
ing the greetings OF the association ana TO-
GREETING his absence.
AdoIph Moses Of Chicago. presented the nv
mortal Of the Illinois Bar Association TOT "'e
creation Of John Marshall Day-FebruarN -
1901-whlch marks the hundredth ann''e'S"'
- b,s ascension 10 the Office OF Chief Justice OF
the United States The Chair was instructed ny
resolution to appoint a committee Of fifteen
anent the subject
The secretary treasurer and Executive Com
r,ittee submitted reports. after which the Cen
eral Council was nominated. The new O"uh'"
will be nearly identical with the old
At the close Of the nominations appointment
was taken until the evening
During the afternoon there were meetings OF
tbo legal educational section. and the section
on patent law.
NEW,JERSEY AND THE TRUSTS.
At the evening session Edward @. Keasbey' Of
Newark ~ j. delivered the principal address,
his subject being "New-Jersey and the Great
CORPORATIONS" He spoke at great ieng'h, HiS'
reviewing the present situation in that state
Then he took the subject UP on its historical
side and said
capt y for The promoiion Of industries is not
new policy IN Now-Jcrsoy As early as i1sl, WIFI
and NoW-Ierscy determined 10 form "a company t9r
the purpose Of shng C bsr Act o
Incorporation It was through tie influence amu
exeron Of Alexander Hamilton hat ne p. Th Wa
snrie and seif-containcd nation OF the several
tised by him and on November %. 1871 the Legs
lature Of New-Jersey passed an act TO incoiRotdte
He q" dF sSf Mannfacgrcs The authorized
capital was 0@"o and the conpahy W. Stso [ nn6
powered TO hold property 10 the amount oi $780,
Solct0 was subscribed and over S1"N palG M.
ernor o. the state was authorized to subscribe. and
did subscribe in he name Of the state ioT SnSrgs
izod n he held FOR the purpose Of raising Sol"9
more The society was forbidden to go into general
,nJ 5o@nen rivers With powers Of condemnation.
and given the right 10 take toll and PROVISION was
made for the Incorporation of The inhaMtAntS or
sue ne as me society should select and this
Alderman and was 10 bear tho name OF the great
lawyer William Paterson. who took part IN fran,
New-Jerscy and The United States The cite chosen
Pator g has Been engaged for more than
century in useful manufactures, and her SIX mills
tributed very largely 10 the development or me
LEGAL affairs has lately given 10 the country It's
V'ce-President ana IFS Attorney General
A DEFINITE AND PROGRESSIVE POLICY.
After a minute analysis of subsequent legis-
lation regarding corporations Mr. Keashey said
in part:
1t has been assorted with some that New Jersey
has encouraged foreign enterprises 10 be incor-
porated under her laws with view 10 obtaining
relief from the proper restrictions and obligations
imposed by the laws under which they really bt-
Ions. and it is suggested that Il Is only through
abused nos ''-
Of les a'H H and judicial decision in New Jersey
will show that in dealing with the organzation
consistent. definite and progressive policy ms
policy is different from that Of many States II
s 9oey or Of eap " regards CARDS 5
corporation as means OF nnnsnS IhT sa1 ayeon
mont OF resources and the promotion OF industries
s2 the 'qTR sness ana "a deals wh it as It
deals with individuals and partnerships in the CON
duct of their affairs 1t adopts the principle thai
men. whether assoc lated as partners or in JOINT
stock companies under the name Of corporauons'
should be allowed all the liberty that Is CON
sistent with public safety and order, that freedom
~ contract Is an essential part OF me Hnterty OF
the citizen, and that the largest PracuCanle
dom Of the individual is for the best interest oil
fhe cement Of stability Is an important charac
fcristic Of the laws governing corporations IN New
1.as during a long period and these were made
along the lines Of development already laid down
ent ana Uniform The courts have not been easily
disturbed boy sudden changes OF pubic opinion Win
to rely upon orderly development Of legal prin-
cples governing corporate enterprises Stability in
iuducement IN the choice OF domicile for an o.
5 5eod and ~hi'2 View Of the possy Of failure
and The sudden end Of me corporate me- II IS also
know that in case Of dissolution # will have sMful
treatment and decent burial IL is a fact of some
pany IN New-Jersey that In case OF Insolvency or
corporation is in the hands Of The Court Of Chan
Gerry and that this IS but one court for ne whole
cases IN equity and acting together, with the Chan
Of the court are fixed and well known and there is
conflict of local jurisdiction with respect TO IN,
that this court is well known to consist Of men Of
integrity and sound discretion, well acquainted with
the law.
NEW-JERsEY'S PROTECTION TO TRUSTS.
have given some Of the reasons why the cor
This does not answer the question which seems to
he more urgent at the present time. why New-Jer-
sey permits her laws 10 be made use OF for the
purpose Of giving legal form 10 those great aggrc-
gatiOas Of rival enterprises which have been con-
demncd ln 9th States combinations in restraint
az trade and against public policy. How can She
Justify the fact that she permits and even encour-
ages The formation Of corporations which appaar-
trusts
The question is broad one. and New Jersey has
not attempted to give answer TO 10. She has
simply acted under the well established policy of
encouraging the aggregation OF capital }or bust
purposes. and has found herself suddenly
cOnfronie ed with a new condition arising out Of an
unexpected development in the world OF trade and
industry.
The difficulty is that there IS nothing really new IN
the situation except the extraordinary size Of the
corporations. the large amount Of property