The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1900-01-12

prevent and punish discrimination, by
which most of the injurious effects Of
trusts can be removed through com.
petition which will then be possible.
Another important recommendation
will be to control trusts as national
banks are controlled. to secure the puh-
lication of their expenditures, receipts,
earnings, dividends, salaries, wages.
operating charges, profits ond other
items which will show their actual
condition at frequent jn,e~vals and
permit the public to ascertain the
value of their stock. The commission
will also recommend that c,rporatiors
combinations and trusts should not /,
permitted to overcopitaliz, or water
their stock. The latter Propositions
are not only suggested in the interest
of the public. but for the benefit Of
individual stockholders, no as inno-
cent investors are frequently the VIC
tins Of manipulation by the directors
and others at the head of the trusts
IL is believed that these two objects
can also be accomplished through
amendments to the interstate law. by
making the products Of t.usts taxable.
like liquor. tobacco and oleomargarine,
the combinations can be brought within
the jurisdiction of the federal court"
1t is very noticeable that this idea
of subjecting to public regulation the
great combinations Of capital and
power which exist through legal in Z.
corporation is gaining converts rapidly
among the more intelligent students Of
the trust problem. 1t was the prn-
cipal topic considered in Governor
Roosevelts recent message, and follow
Ing him comes Governor Nash of
Ohio. whose inaugural address is an
able plea for state supervision of cor
poratons. "These artificial persons"
says he. Except insurance companies.
railroad companies. building and loan
associations and certain banking COM
ranics are practically under no re-
straint by the state and make no re-
ports to her officers. Large mining,
manufacturing. commercial and other
enterprises are carried on by and
through them. Because they are
| created by the state and possess certi.
ficates bearing the impress of her seal.
people are led to believe that they are
safer to do business with and are
more entitled to credit than are pri-
vatc partnerships and individuals. In
very many cases they are less worthy
of confidence. They are authorized by
the state to do business before one dol
lar of the capital stock has been paid"
Governor Nash suggests that before
corporations be permitted to do busi-
ness the state should require that the
capital stock be all paid in. To
make sure that the money is paid in,
Governor Nash would have reports
made to some competent state officer.
He would even so further and require
corporations to make annual reports,
to be filed with the officers indicated.
These reports, among other things,
should show the capital stock paid in,
how the money is invested. what the
assets are, the amount of the liabilities
and the names of the stockholders.
AS condition Of their admission to
OhiO. Governor Nash would also have
foreign corporations make as complete
disclosures concerning their financial
condition and business as domestic
corporations are required to make.
With Governor Roosevelt, he stands
for the fullest publicity as to matters
in which the public has a proper in
terest
1t has been said by cynical COM
mentators that out of this popular dis
cussion Of trusts nothing tangible will
| come. We dissent from that view. 1t
seems to us that public opinion is
rapidly crystallizing about certain
remedial legislation in the nature of
regulation which it will both enact and
| enforce