Courier Democrat. (Langdon, N.D.) 1891-1920, 1899-09-28
CURE FOR TRUSTS.
ST. LOUIS CONVENTION OUTLINES a
REMEDY.
Resolution. Are Adopted Outlining
the Legislation Needed to Control
the SO-Called Trusts and Com.
bines-Dificulty I'm Reconciline
the Widely Divergent Views Pre-.
scented for Con.ideration-Lons
Session of the Committee on
Resolutions Required Before an
Agreement Was Reached.

st. Louis, Sept. 23.-Aftfer two days
OF speech-making the governors, at
torney generals and other state repre-
sentatlves who have been holding IL
conference here on the invitation of,
GOV. Sayers of Texas, adopted resolll-
tons outlining the legislation needed
to control the so-called trusts and COM
Dimes and adjourned sine die.
Ihe recommendations embodied were
agreed to after lang session of the
committee on resolutions. SO widely
divergent We're the views presented
for its consideration that it was after
midnight when the committee was
able to arrive at any conclusion. The
whole matter was then referred to a
subcommittee composed of Gov. Nc
Mlllm of Tennessee and attorney gen
arals Smith of fTexas and Campbell of
Colorado to put into proper shape.
me conference was to have met at
y o'clock. but it was noon before it got
down to business as the committee on
resolutions was not ready to RAPPORT I'M
til then. The delayed regrets of the
attorney general Of Ohio We're then
read and the Gov. McNIillin chairman
OF the committee on resolutions. pre-
sentett the report of that committee.
The following are he resolutions:
First-The enactment and enforcement both
py the several states and the nation, of legis-
lation that shall adequately and fully define
as crimes any attempted monopolization or
restraint restraint OF trade in any line of industrial
activity. with provisions for adequate punish-
3 ment. both of the individual or the Corpora
tion that shall be found guilty thereof. pun
its dissolution
Second-The enactment by each Of the states
OK the Union OF legislation for the adequate
fVoIo
tons chartered by that state, and we recon-
mend as efficacious system OF reports to and
examination by state authority OF the
poratluns organized under it's laws, to the end
that they be brought to fair observance of
the laws under which they created.
Third-The enactment by each state of laws
that will prevent the entrance of any foreign
chartered corporation into it's limits for any
other purpose than interstate commerce.
cept on terms that will put the foreign-cre-
ated corporation on basis of equality with
the domestic-created corporation of the state
entered, and subject to the same laws rules
and regulations of the state it enters, which
are applicable to the domestic CORPORATIONS
OF that state. and to this end we recommend
legislation that would make it mandatory
upon corporations seeking to engage in bust
ness outside the state of their creation that
they procure licenses from t..c foreign state
as a condition precedent to ;heir entry into
such state; such license to be granted OH such
terms and subject to such restrictions will
place the corporation subject to the same
control inspection, supervision and regulation
as the domestic corporation OF that state, and
subject to be revocablc If the conditions thereof
violated
Fcurth--The enactment Of state legislation
declaring that corporations created in one state
to do business in other states than where
ated shall be prohibited from admission into
the state.
This proposition is supported by decisions of
the supreme courts of several states, but we
believe it should become legislative enact
nlent uniform throughout the states.
Flfth--That no corporations should be formed
In whole or in part by another corporation.
m ttND,p 1,an hold
any stock in another corporation engaged in
similar competitive business and that no
officer or director of corporation shall be the
officer or director of a corporation shall be
the oTTer of stock in another corporation
gagged in similar or competitive business the
object result of which is to create trust or
monopoly.
notwithstanding that trusts usually
composed OF corporations. and that corporations
are but creatures of the law and only exist
in the place of their creation and cannot mi
CRATE to another sovereignty without the
the sense of this conference that each state
pass laws providing that no corporation which
Is member of any pool or trust in that state
Or elsewhere can do business in that state.
Resolved, That it is the sense of this confer
ence that all the capital stock of private
porations should he fully paid. either first, in
lawful money. or, second. in property of the
actual cash value of the amount of the capital
stock. and that in all private corporations with
q capital stock issued in excess of the amount
actually paid up above provided. the share
holders shall be liable to the extent OF twice
the face value OF the stock held by each.