The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-10
DUTY OF THE BUREAU
OF CORPORATIONS


tons to gather information on the sub
ject of interstate and foreign commerce, to
investigate the organization, conduct and
management OF corporations and joint
stock companies engaged in such commerce
(other than common carriers subject to the
jurisdiction of the Interstate-commerce
Commission), to report the results of such
investigations to the President through the
secretary Of commerce and labor. and to
compile and publish useful information
concerning corporations engaged in inter-
state and foreign commerce, including in
surance companies. AS an aid to investiga-
ton, the commissioner of corporations is
given like powers to those granted the In
terstate-commerce Commission. Since the
organization of the bureau on Feb. 26. 19O3
exhaustive studies have been undertaken
in the following fields:
First-A systematic study of the law Gre
ating the bureau.
Second-The general subject of interstate
commerce and the powers of the federal
government in relation thereto.
Third-The decisions of the federal courts
relating to corporations engaged in inter-
state commerce which are subject to the
jurisdiction of the bureau.
Fourth-The jurisdiction and powers of
the Interstate-commerce Commission.
Fifth-The decisions of the federal courts
In relation to trade conspiracies. monop-
olies and com binations in restraint of trade.
Sixth-The corporation laws Of the various
States and Territories. particularly those re-
latlng to the annual reports and the returns
Tor taxation purposes required from such
| corporations.
Seventh-The methods of taxing corpora
| tions in each State and the decisions relat-
| ing to the taxation of Interstate commerce.
Eighth-The effect of industrial combina-
| tons upon the prices of the commodities
| sold by such combinations. the effect of
ties subject to such duties. and the reasons
| for the difference, IL any exists, between
| the domestic and foreign prices of commodi-
o of ans
| Ninth-The powers of the federal govern
ment in relation to insurance companies.
parent that the public records of States and
| Territories. the reports of special commit
tees appointed under State or federal au-
| thority, the files of certain government
offices and various commercial and indus
| trial publications. contained a fund of val
| liable informatio on the subjects to be in
vestigated This information is being
brought together, analysed and properly in
| dexed, in order that the facts already
known may be utilized in planning more
| specific inquiries.
Results thus far obtained show that much
| fuller information has been given In the
| past than is generally supposed. The knowl.
| edge already acquired from various sources
| regarding particular corporations will be OF
! decided value in determining what further
| informa ton should be required. By proper
| utilization of the facts at hand unnecessary
| inquiries can be avoided.
FIELD WORK OF THE BUREAU.
The field of work that lies open to the
bureau is almost unlimited in extent and 1,
is believed that If proper means are made
available results of far-reaching conse
! quence can be accomplished. Since July
the bureaus operations have been EXTENDED
so rapidly that the special appropriation
provided is now practically exhausted Ii
order that the Investigations already begun
| may be effectively completed and the infor
| nation gained be utilized to the best possi
| bic advantage liberal addition to the pres
| ent appropriation should be granted.
| Appropriations for the bureau shoult
carry with them ample authority for tn,
| employment of special attorneys and specia
| examiners possessing the qualifications nee
| essary to meet particular exigencies i'm IN,
work For this reason it is STRONGLY urge,
that future appropriations in so far al
they relate TO special attorneys and specia
! examiners, be made in the form of a lum]
sum. with such limitations only as are es
sential to good administration
The creation of the bureau was viewed b.
some with alarm, or at least with suspicion
1t was feared that the powers granite,
might be hastily or inadvisediy used to tn
injury of legitimate enterprise. No sucl
purpose actuated the trainers of the law
no such purpose will control its adrninistra
ton.
| Many corporations have been granted i'm
portant privileges by the public, and som
| of these corporations, through consolida
ton of capital, have acquired extensive In
fiuence in the industrial affairs of the couu
try. Such privileges, IL used improperly
| not only retard the progress of industry
but frequently breed corruption In politics
The legislation creating the Bureau of Cor
| porations was the expression of a pppula
| belief that further safeguards should b
provided for the regulation of business en-
terprises to which special privileges hav
been granted by the people Publicity wi
disclose unfair dealing. dishonesty and cor
ruption: but if properly enforced ii will no
disclose to trade competitors the fruits @
| individual thrift and initiative nor permj
in any other manner the invasion of privat
rights