Omaha daily bee., 1902-02-11
puBLIcITY FOR CORPORATIONS.


The Industrial commission has added
its voice to the popular demand that the
great industrial corporations shall be re-
quired to make public all facts con
nected with their organization and inan-
cial condition in which the public is in
terested. 1t is a comprehensive plan Of
publicity and supervision which the com
mission recommends, but it does not go
beyond what is necessary for the proper
information of the public. The require
ment that all information concerning a
corporation should be open to investors
is entirely reasonable and will not be
objected to by a corporation that intends
to deal fairly and honestly with the pub
lie. Equally reasonable and proper is
the recommendation that the larger cor
poratlons engaged in Interstate com
merce be required to publish annually q
report showing assets and liabilities,
with profit or loss, such report TO I've sub
ject to government inspection. As to
the recommendation that district at
torneys Of the United States be author
lied and directed to institute proceedings
for violations Of the federal antitrust
laws, that authority already exists.
What is known as the Sherman law in
vests the circuit courts of the United
States with Jurisdiction to prevent and
restrain violations of that act and says
that "it shall be the duty of the several
district attorneys of the United States,
in their respective districts, under the di-
rection of the attorney general, to insti-
tute proceedings. in equity to prevent
and restrain such Violations further
providing that 'such proceedings may be
by way of petition setting forth the case
and praying that such violation shall be
enjoined or otherwise prohibited" This
seems to give ample authority to United
States district attorneys to institute pro-
ceedings against combinations which
they believe to be in violation of the
federal antitrust law.
The creation of a bureau, as suggested,
the specific duty of which would be to
look after the corporations engaged in
interstate or foreign m is neces-
sary to government supervision. 1t
would correspond with the bureau which
has the supervision of national banks.
As recommended by the commission the
bureau would make such inspection and
examination of the business and accounts
of the corporations as would guarantee
the completeness and accuracy of the
information needed to ascertain whether
such corporations were observing the
conditions prescribed by law. 1t would
also collect and publish facts regarding
the combinations for the information OF
congress and the public, as is done by
the comptroller of the currency regard.
ing the condition of the national banks
Such supervision Would work no hard
ship to corporations intended to deaI
honestly and fairly with the public.
The demand for publicity and the ma
tional supervision and regulation of cor
porations doing. an interstate business
is so general that congress cannot fail t
see its duty in the matter. The people
with practical unanimity, want a Law
that will compel the great corporations t
give the public information regarding
their financial condition and they alsc
want proper supervision and regulation
of the combinations by the general gov
eminent. They have no doubt that tn,
power to do this resides in the govern
ment and they insist that it shall b.
exercised.