The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1901-12-04
Corporate and Personal.

At first glance, for example, several
questions would arise In connection with
the proceeding against the Northern Se-
curities company, chief among which, per-
haps, is whether this company is engaged
in interstate commerce. On it's face, the
company seems simply to have substitut-
ed corporate for private investment cap
ital, and to have procured controlling in
terests in several carrying corporations.
1t is very doubtful, in the opinion of good
lawyers in government employ, whether
the court would consent to discriminate
between the corporate and a personal
shareholder. and If Mr.. Vanderbilt, or Mr..
Morgan, or Mr.. Hill were, out of his own
purse, to buy the majority of stock in
three different railroads, it is extremely
doubtful whether there Is any law against
combinations which could be stretched to
the point Of arbitrarily saying that the
purchaser must make his choice Of one Of
his interests and dispose of the other two.
Until some other party's rights were in
yaded by person absorbing all this prop
erty, it, is not to be assumed that the
government would turn it's enginery Of
justice against him.
President VIII Peg Away.
The greater probability is that, in the
trusts matter, the president will press
upon congress persistently the ideas set
forth in his message. till that body either
produces such legislation as will satisfy
his demands, or gives the country suf-
ficient excuse for not doing SO. If, mean
while aggrieved parties can make out
what seems to be a fair case against any
industrial combination under the existing
law, the attorney general will proceed
against the alleged offenders.
~. 80
If it shall appear later that the :
trusts have been tampering in any
improper way with the legislative F:
machinery, they will hear from the:
president with some of his old
fashioned a. ndor of speech and di-:
rectness L. action. Contingencies
are possible in which he might :
even "call names out in meeting"
o.. 20
1t. is said that the emissaries Of trusts
who came here to try to head off any re-
Elections on their affairs in the message
or departmental reports got cold comfort
for their pains. They are likely to get
something worse If they presume that,
because it has refused to be goaded into
indiscriminate assaults upon combina-
tions. good and bad, the administration
has issued insurance policies to any OF
them.
To Allow Pooling.
There is practically a confirmation of
the report circulated several days ago that
congress, on recommendation OF the inter-
state commerce commission, may pass
law permitting railways to enter pooling
arrangements, these arrangements to be
under the supervision Of the commission,
which will also have control over freight
rates The presidents message takes up
the long debated question Of the relation
between the interstate commission and
railways very much along these lines.
The paragraphs on the subject are explic-
lily in favor of amendments to the pres
ent law giving the commission greater
power as to the supervision OF rates on
Interstate commerce and making it pos
sible to enforce it's rulings In the courts
If necessary. There is no direct recon-
mendation In favor Of allowing railways
to enter pools for the fixing and main
tenance of uniform rates, but authorities
on the subject state that the intimation
of favor toward the plan is so sufficiently
clear as not to be capable of any other in
depreciation.
On good authority, it is said that the
opinions Of the president and the opinions
on the commission, which is now framing
it's annual report, agree. The report, as
usual, will plead for enlarged powers, and
the presidents attitude will give the plea