Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1902-03-11
TRUSTS AND COMBINATIONS

INTERESTING ADDRESS OF J,,B.
# DILL, THE CORPORATION LAW
YER, AT HARVARD UNIVERSITY
Cambridge, Mass, March 1O.-(Spec-
ial Dispatch. )-At Harvard university,
James 3. Dill, the well known corpor-
alton lawyer OF New York, discussed
for an hour this afternoon the neces-
sity of having national laws to gov
ern trusts or great industrial combi-
nations Besides the members of the
Harvard Economic society, the address
attracted a large assemblage of visi-
tors interested in the questions grow
ing out of the antitrust litigation be-
fore the United States supreme court.
MI. Dill, in opening, made the points
ifrst) that the best intelligence of the
country favored the adoption of ma
tional principles with respect to cor
porate measures; (second) that his
tory showed that in instances where
interstate warfare had affected trade
and commerce unfavorably, federal as
sumption of the matters in dispute
had frequently resulted, and (third)
that whenever a force affecting the
country at large has been found ''to
have outgrown the swaddling clothes
of the express powers of the constitu-
tion.:"> and entitled to the protection
of national law, the American peo-
pie had always overridden mere tech
nicalities, and taken unto themselves
the requisite authority under the i'm
piled powers of the constitution
Saying that he accepted the term
trust to signify corporate aggre-
cation engaged in other than merely
local business, and not confined in its
operations to the state of it's creation
he insisted that the 'ttrust'' was ma
tional in extent, and an integral part
of the best growth and financial de-
velopment of the country.
Present state, legislation tended to
lack of uniformity, to diversity, and to
direct antagonism. Charter grant
ing states are SO shaping their cor
porate legislation added Mr.. Dill
shat their charters will be saleable
product to other than their own citi-
zens. More than this, they are per
mitting those of other states who will
come to them for charters to do things
which they deny their own citizens
The state of New York today forbids
the organization of transportation,
railroad, and what is commonly known
as quasi public corporations. to be Or
ganized under any other than the par
ticular law providing for such corpor-
ations with it's restrictions and safe
guards. Nevertheless, that state has
before it today bill making it law
full to form corporation for the busi-
ness of constructing, maintaining and
operating railroad, telephone or tele-
graph lines under the business corpor-
ations laws, provided all operations of
these companies shall be carried on
wholly beyond it's borders In other
words, New York is assuming to grant
powers to corporations to carry into
effect outside the state that it will
ut to
own territory.
Further, Mr.. Dill contended that
Estate legislation for revenue" was
most pernicious in tendency, since if
the state as a whole, was for sale, the
moral example of the state tended to
make legislators Individually for
sale.''
Mr.. Dill contended that the power
for good legislation affecting trusts
was crippled by the lack of national
jurisdition. Each state legislated for
itself in disregard of the nations
good. The result was confusion and
frequent conflict between federal and
state statutes.
Americans have not as yet be-
gun to realize" declared Mr.. Dill,
1.-THE force and power of these aggre-
cations OF capital. Viewed on the one
hand from the standpoint Of undoubted
advantage to the country. certain in
telligent people are inclined to do
away with all legal restrictions upon
the growth and progress of great or
galnizations. n Others. realizing the
dangers which of necessity accompany
power of any kind, and which when
united in combinations, present, if un-
controlled, more than menace to our
country, are inclined to repress the
trust movement in every possible
way, The safe method, Mr.. Dill
thought, was not in abolishing trusts,
but in properly applying the principles
they represented The basis of dis
cussion respecting the legal control Of
com binatiDnS was MT fi1,sf ,ltilitv and