Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1902-12-04
FOR ATAXON TRUSTS
This Is Congressman Hepburn's
Idea.
KILL dLLEGlTlMA1E CONCERNS
Takes Morean's Steamship Deal as an
Observation-Disclosures Give Collectors
of Internal Revenue Authority to
Fix Value on Stock of Corporations.
(By III. ]. Mahin.)

(By II. j. Mahln)
Washington, d. c., Dec at is not un-
likely that one of the many bills for trust
legislation which will be presented to con
gress at this session or the next may come
trayed quite an interest in the trust ques-
ton: lie has some splendid and very de-
Tern Inc IDEAS on the matter, He says
meet with favor with congress and de-
cilnes to state. whether or not he will pre-
sent t,d his opinions in the form of a bill;
stock of corporations, this tax to be levied
and collected by the machinery provided
Mr.; H.eepbnrn.s idea of remedying the trust
evil. He refers of course. to that class
of combinations formed not for the legiti.
mate, purpose of trade or. commerce but
for the, sole purpose of making money out
of stock values. And this is exactly the
class of trust that causes all the evil
declared Mr.. Hepburn in discussing the
matter matter When You take away the oppor-
tnnity of the professional promoter of get
ting rich 1,i,.4 simply through the organization
quantities of stock based on nothing but
the visionary dividend earning capacity of
the proposed enterprise. yon will at once
lions. In my opinion II prohibitivc tax on
f nae stock Of every corporation which is
would wipe snch CORPORATIONS out OF ex-
istence. and when that was done combina-
lions would he made only for the legiti-
cured Combinations of the latter class in
my opinion are not harmful.
As an example take Mr.. Morgan's
Morgan have In engineering this gigantic
scheme If 1t We're not for the great profit
he could derive, not through the Legitimate
business of shipping; but through the issu-
ance of stock based on the combination.
If the matter We're analysed it would he
found that Mr. Morgan is not posted OF
al. nsf cd fhn 4 tnttS
ing the actual business of navigating the
He as Il professional promoter sees an
opportunity TO make great combination
on when fabulous amount of stock can
be issued and sold, and through which in
nous profit; The motive for the railroad
mergers. will he found to be the same. and
1t is this gambling on, the possibilities of
the money making end of the trust and
not the Legitimate. earnings which should
be the real cause for the combinations and
the real source of profit
TO put my ideas in to execution would
simply give the collectors of internal reve-
nue. authority to fix value on the stock
CARS, would have the i't' tax on an' stock ok
10 aa not sed t h actual value sub
cry instance to be sufficiently. high to
, make the existence of such stock impossi-
done aud that the right of apneal might
be had from the decision of the Internal
} revenue collector. provision should he
made for n special hoard of appeal and
even the Judgment of this board might lie
appealed from In the federal courts. This
, In my opinion would be ample machinery
: and a. practical method of reaching the
evil effects OF trusts. 1t, however. is a
l remedy that has occurred to me during The
past few months and beyond thinking ii
out along the lines suggested | have given
- 1t no careful research
Wilson Watching Stock Disease.
At the cnhnet. meeting the other day
Secretary Wilson talked to the President
: and his counselors about the foot and
: mouth disease that has become epidemic
among the live stock of New England
From the information received Secretary
Wilson is inclined to, ,elieve that the dis.
, ease has been prevalent in New England
for some time and has been concealed
He believes that the quarantine measures
taken VIII prevent the spread of the dis
taken to stttmp 1t out if 1t has secured u
/, foothold
a A Record Breaker
George z; Roberts, director, of the mint
b r report His annual report hand
ed in the other day shows that the num-
! Der, of pieces of money coined at the sew
: eral mints last year has never been eX
y ceeded in the history of the. country. Il
: also shows that the amount of gold In TIL,
> treasury at this time. is greater than wa.
! ever known in tho history of this or an,
y other country. While the number o.
i pieces coined was greater the aggregar,
o value of the coinage declined from s136,
I 340,7Sl in the fiscal year 1901 to S94526.
= IT'S In the last fiscal year. Mr.. Robert.
: calls attention TO the fact that the golt
; coinage Of the country is now entering al
> most entirely into storage and snys tina
: the coinage of the entire annnal deposit
= is unnecessary. Ahont 100000 LOO of thu
Whch s m ehf an Is Il a To Ye e gq
!, for in a gneration to come.
White House Chandeliers.
:, Senator Allison is to have Il famous chan
u delier IN his committee room Some of tn
y historic fixtures of the White House whicl
= have been removed in the reconstruction o
u that building are to be preserved and givel
q permanent place In the capitol. Per
q haps the most notable of these are TIL
i nine huge glass chandeliers. two of whcl
y hung in the old east room and appear il
: eyeiw published picture of that apartment
: The other hung IN different parlors. Eacl
one of the chandeliers was composed o
many thousand pieces of cut glass an
each, cost more than Sl;aO. When. take
to the capitol one Will be hung in, tn
h vice presidents room. in the speaker
- private Office. two In the corridor hack o
the house and the remainder In committe
:. rooms of the senate including that of Senu
!, tor Allison Of own. Tie chandeliers az
'e made to he lit by gas hut as there is II
ly gas in the capitol bT!ld,ng electricity wi
e places for from thirty-fve to fifty light
m and aside from artistic value are regnrde
a as valuable historical acquisitions to tn
= capitol.
= A Difference.
l. An idea as to the financial growth of til
u country can he gotten from the fact tina
In the year 1850 1t required only min
81 clerks to perform all the work In the o
y flee of the treasurer of the United State
~ Tho present number on the clerical fore
LIS is 425.
ct The Nickel Plate Road
lie will q Ford tic patrone on onnor+r,;t