New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-10-23
Pi BLICITY AND CORPORATIONS

There seems 10 be- some difference Of opinion
among the managers of important industrial
corporal ions who recently conferred Ia this city
regarding their attitude toward the inquiry by
the Industrial Commission. The president and
the vlce-presdcnt Of the American Tin Plate
Company. who testified at Washington before
the Commission last week appear 10 have sub
mtteh a full and clear statement of the affairs
of that company, did officers of a few other
concerns. while ii + currently reported that
some managers of other corporations are dis
posed 10 resist the inquiry as far as possible and
10 dispute the right of the Commission 10 in
quire into their business. 1t IS only fair to rec
ognizc tina, the subject presents some real diff
culties. 1t is not TO be hastily inferred that Il
company must be offending against The public
by wrongful or extortionate conduct merely be-
cause it does not wish To expose TO actual or
possible competitors the details of its business
But its wishes are not To be exclusively cOnsid
cred. rhe use of corporate franchise with all
the powers and privileges it carries. involves
some obligations toward the public which have
yet 10 he clearly defined by law.
In the recent discussion of the subject al chi
cago ii WAS generally assumed that publicity re.
yardnc its operations might properly be r,-
several States This was apparently regarded
as n protection against extOrtionate manage
meni. the theory that the public. If well as
sured that such an abuse existed, would find
some WAY 10 correct il. Regarding some indus
trial corporations perhap, much the greater
number. such Il provision would work no real
hardship. bu, il cannot BE- said that all stand on
the same footing. Some are rghtfuly in pos
session and use Of secret processes and methods
which II would greatly injnrc them TO have ex
posed Others are rendering the public impor
fant service bv cheapening certain products
which service could not be rendered by them
nor anybody elss n there Mere much competi-
ron in the business \ sweeping Ia w requiring
The same Kind ard degree Of publicity regard
ing the business Of All Industrial corporations
would certainly woYi, against public interests in
sorne cases and most uniuStly.
II vas suggested some time 10 that all the
information which the Government has occasion
70 seek can be obtained through The operation u
law imposing graduated taxes on Industrial
corpora tons. The information light be conf
dentaly treated a. the returns ~ income or
other returns on which taxes have been based.
In all cases where no offence against the public
made exposure Necessary. and the adjustment Of
taxation might be such that the Government.
would secure a large revenue In the aggregate
without Ia the least embarrassing any legiu.
mate business properly conducted. II WAS an.
s"efed that such treatment would not destroy
the trusts but what reason exists for destroy
Ing any concerns which are serving the public
more effectively than private firms or smaller
corporations could If the object Of legsia-
iion j. 50 benefit III" public as far M possible il
viii insure q high degree of defence for all cor
poysiioDs which are doing 10 injustice but are
rendering valuable service. IT The object IL only
10 smash every concern which bias The ability 10
make money, then the 6rst step should be "A
constitutional amendment dsDriying Of all pro.