Mower County transcript., 1903-01-14

lion IN SI0e state court.
FACTS SHOWN BY EVIDENCE
IN THE FEDERAL COURT.
a large amount OF testimony has al
ready been taken in the federal court
and this testimony SHOWS, among other
things, that the stockholders Of the
Northern Pacific Railway company
have already exchanged more than 98
per cent of the total capital stock Of
that company for the stock of the
Northern Securities company.<*It It also
shows that the. stockholders of the
Great Northern Railway company have
already: exchanged 80, per- cent. of the
total capital stock of that company for
the stock of thee NoEthern5 Securities
company; thus giving the latter COM
pany complete control of the property
and lines of railway of both the Great
Northern and Northern Pacific Rail.
way companies. The testimony also
shows that during January, 1902, a
joint circular was issued by the officers
OF the two railway companies, with
drawing an equalizing or competitive
rate between junction points in this
state where the distance was greater
by one route than the other, and re.
Quiring the freight to be shipped by
the shorter route unless the shipper
was willing to pay distance tariff or
higher rates by the other road. refer
to this only for the purpose of showing
the effectiveness of this consolidation.
The executive officers of the state
are doing, and will continue to do, all
in their power to defeat this consolida.
ton. 1t may be that the courts will
decide that the laws of one state can
be evaded or violated by means of
corporation organized under the laws
OF another state; if so, all the benefits
of the more perfect union," so earnest.
ly sought by the trainers of the con.
st1tution and so much desired by all
law abiding citizens, will not be real
lied. | have an abiding faith, how.
| ever, that the laws of this state will
be sustained, and that the attempt to
| evade them in the manner stated will
| be defeated.
The law of this state prohibiting tho
| consolidation of competing lines OF
railway is declaratory of wise public
policy and any effort to weaken or un,
dermine it should be defeated, and
every effort put forth to enforce and
strengthen it's provisions.
We hear much these days of good"
| and bad trusts. 1 do not wish to
| take any of your time in discussing
the fallacy or correctness of such
term. do assert, however, without
| hesitation, that no trust or combina.
tion is more dangerous to the public
! welfare than a combination of trans.
| portation companies, or facilities,
which either has the power to or docs
| stlf1e or remove competition in freight
and passenger business.
1t seems to me that few, if any, com.
| binations of trusts can be successfully
maintained unless they are connected
with, or in such position that they
can control the avenues and means ol
| transportation.
TO PROMOTE MONOPOLY
AND STIFLE COMPETITION
This Northern Securities company il
the most ingenious scheme eve,
| brought into existence to promote
| transportation monopoly and stiIlc
competition.
If you agree with my conclusion in
| this matter you will use every mena:
| in your power to strengthen and all
| the state lin its efforts to enforce thI
! laws. already upon its statute bou..:
against such consolidation; and pas:
any additional legislation which you
may be advised by the legal repres7n.
tatives of this state is necessary &c
accomplish this object. Every well
| Wisher of both the state and nation is
! seriously considering the complex
| problems involved in the solution oi
| the so-called Trust Question:" The
| first great duty OF a corporation
| through which such consultations as
are called trusts" are made possible
! is to obey all constitutional laws
| adopted for their regulation or control; !;
whether such regulation or control can
! be successfully accomplished through
national legislation is a question about
which there seems to be much differ
| ence OF opinion. Each state, however,
I can very largely regulate and control
| corporations of it's own creation. II
thus becomes the imperative duty oil
this state to do what it can and tc
! adopt such additional laws as may be
| necessary for the accomplishment oil
| this object.
I call your attention to the condition
| of the suit OF the state against tha
| Northern Securities company and the
| two railway companies involved, sc
that you may be informed of the situa
tion and pass such legislation as am
informed the attorney general will
submit to you, provided it meets with
| your views, looking toward the re
moval of some of the obstacles en-
countered by the state in it's suit.
Our state is engaged in great legal
battle to protect our rights. The state
of Washington has a suit pending in
the supreme court OF the United
States, and by order of the president
| Attorney General Knox has cons
menced action looking to the dissolu
| ton of this company. Realizing the
power of corporate wealth congress
has appropriated $500,00O to aid tho
legal officers of the government in
| prosecuting this and all other illegal
trusts and unlawful combinations
Whatever the result there need be nc
apprehension, for there is a power
greater than corporate wealth; greater
than even the supreme court Of the
United States, and that is the power
of the American people, and when onca
aroused no evil can resist this mighty
| force. a..S5s &