Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-02-12
Publicity for Corporations.
Iomaha Bee. ]

The industrial commission has added
its voice to the popular demand that
the great industrial corporations shall
be required to make public all facts
connected with their organization and
financial condition in which the public
lis Interested. 1t is comprehensive
plan of publicity and supervision which
the commission recommends, but IT
does not go beyond what is necessary
for the proper information of the pub
lie. The requirement that all informa-
ton concerning corporation should be
open to investors is entirely reasonable
and will not be objected to by a corpo-
ration that intends to deal fairly and
honestly with the public. Equally rea-
sonable and proper is the recommends
ton that the larger corporations en-
gagged in interstate commerce be re-
CURED to publish annually a report
showing assets and Liabilities, with
profit or loss, such report to be subject
to government inspection. AS to the
recommendation that district attorneys
of the United States be authorized and
directed to institute proceedings for
violations of the federal anti-trust
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 1T shall be be the duty of the sew
cral district attorneys of the United
States, in their respective districts, I'M
der the direction of the attorney gem
eral. to institute proceedings in equity
10 prevent and restrain such viola
tons" further providing that such
proceedings may be by way of petition
setting forth the case and praying that
such violation shall be enjoined or 9th
erwise prohibited" This seems to give
ample authority to United States dis
trict attorneys to institute proceedings
against combinations which they be-
lieve to be in violation of the federal
anti trust law.
The creation of a bureau. as sug-
gested, the specific duty of which would
gagged In Interstate or foreign COM
merce, is necessary to government SUI
rervision., 1t would correspond with the
bureau which has the supervision OF
rational banks. AS recommended by the
commission the bureau would make
such inspection and examination of the
business and accounts of the corpora
tons as would guarantee the complete
ness and accuracy of the Information
needed to ascertain whether such COR
porations We're observing the conditions
prescribed by law. 1t would also collect
and publish facts regarding the COM
binations for the information of con-
gress and the public. as is done by the
comptroller of the currency regarding
the condition of the national banks.
Such supervision would work no hard
ship to corporations intended to deal
honestly and fairly with the public.
The demand for publicity and the
national supervision and regulation OF
corporations doing an interstate busi-
ness is so general that congress can not
fail to see its duty in the matter. The
PEOPLE, with practical unanimity, want
a law that will compel the great COR
porations to give the public informa-
ton regarding their financial condition
and they also want proper supervision
and regulation of the combinations by
the general government. They have no
aoubt that the power to do this resides
Ia the government and they insist that
1t shall be exercised.