Omaha daily bee., 1902-02-10
Rsoommsnds Stringent Legislation to Step
Railrssa DisorininstiOnL
TAVoRs UNIFORM JURISDICTION : 2
Ts Prevent Over capitalization sp
Laws Are Recommended. y
PLACE FRANCHISE TAX ON cORPoRATlos
Commission says such Tax should BE
Imposed ny several states Based
ON Gross EARNINGS OF
Concerns.

WASHINGTON, Feb. 9.-The second part
of the report OF the Industrial commission
was made public today, 1t covers manufac-
aures and Industrial combinations and in
nS recommendation quotes from Its re-
port to congress Of 1900. in which 1t then
recommended; f4g4, .s-f.
That the promoters and organizers OF
corporations or Industrial combination
which look to the public to purchase or
deal in their stocks or securities should
be required to furnish full detail re-
garding the organization; that pros
pectus or announcement of any kind, soltc-
iting subscriptions which fails to make
full disclosures as aforesaid, or which Is
false, should be deemed fraudulent, and
that all information concerning the cor
poration should9be open to investors, ana
that the larger corporations, the so-cailed
trusts, should be required to publish an
nually properly audited report, showing
the assets and liabilities. with profit Or
loss. such report TO be subject to govern
ment inspection. 10y 19
The committee now recommends that
district attorneys OF the United States be
authorized and directed to institute pro-
ceedings for violations OF the federal anti
trust laws
That combinations and conspiracies in
the form OF trusts or otherwiseC in re-
straint of trade of production, which by
the consensus OF judicial opinion are un-
lawful, should be so declared by legislation
uniform in all jurisdictions and as to all
persons and such statutes should be thor
Oughly enforced.
Penaithe rate DiseriiA '.
That stringent law be enacted by CON
Rress and the several state Legislatures
making both penal and criminal the vicious
practice of discriminating between GUS
toners and cutting rates or prices in one
locality, below those which prevail gener-
ally for the purpose OF destroying local
compositions and that such laws should give
10 any persons damaged right to sue for
prescribed penalties and make 1t the DUTY Of
the prosecuting officer to proceed against
the offenders
= That. 10 prevent over capitalization, the
ssyerai state leaIs1Atures enact laws SINH
lar TO The anti-stock- watering laws OF
Massachusetts; also, to provide for state
suberyision OF all public service corpora
tions. with power to recommend or regulate
rates for service and to pass upon the
y uublic need. desirability or exlgency of any
proposed new service -. N
THAT an annual, franchise tax be imposed
upon all state corporations engaged in in
terstate COMMERCE, calculated upon the
gross earnings OF each corporation from its
interstate business.
That the minimum rate Of such tax be
low hut that the rate be gradually in
creased with increasing earnings.
nw~eau of ReRiatratiOn.
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