The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1903-08-28
OPINION is STRONG THAT MERGERS SHOULD Be CHECKED
The report proposed the following rene

The report proposed the following RENE
dies:
First, We can tax them to death; or, II
them until their growth and enlargement
visions requiring direct taxations. and in
view Of these provisions 1t is probably I'm.
possible to discriminate in the matter Of
nssns.
BY most Of the States upon corporations at
ly thereafter. This franchise tax is in al
most all States in some way graded so as
to tax the small corporation at higher
5sfS than the The ss1
millions.
In our Judgment the graduation should be
nstaS e. but SSwn 'e %e Would De sS
ra?s. the first hundred thousand Sc. and
the first million cheap. and raise tho rate
Eith each succeeding million. The United
ton of over one thousand millions. The
graduating stages might be slow ano easy
sn emo to please the most
the United States Steel Corporation con-
s'nus under s If! iXste sha & 1s1sti0n
''Second-We can compel them to render
better and cheaper service: Il tn. COM
6lnatioI Of the Northrn Pacific and the
Great Northern railroads is a great enough
public disaster to have warranted the at
tention which 1t has attracted. It could have
been prevented much easier than hy a
United States statute that required airy
corporation engaged in interstate commerce
to reduce sI It's rates 90 per cent to and from
prevented by combination. merger. common
control or agreement Cansress can enact
that: any corporation or any individual
Goods At lower rates wherever by COM
where competition Is left free.
Thtrd-f necessary, the State itself can
enter the Industrial field as a producer and
restore tho force Of competition to its
former supremacy by becoming itself a
GREAT eppiaus use Followed s ' the reading of
Tho report IS signed by all the members
Lonsan. Henry Budd. Gardiner Lathrop
George whitelock and John Morris, Jr.
A resolution was offered by Mr.. Busby Of
n .t Carolina. providing that the report
note that It did not express the views of the
Judge Hammond Of Georgia spoke briefly
tndorsing the report.
OFFERS A SUBSTITUTE.
William L. Royal. Richmond, Va, offered
as a substitute for the report a paper the
essential ideas Of which were that the in
Jury done the public by trusts was through
unreal compettion-that Is, the giving away
OF goods to destroy weak rivals. or by SELL
ing goods below cost for the same purpose.
Stop this, he said. and the trusts power for
evil IL ended. His remedy was that Con-
gress pass law establishing corporation
commission in each State and Territory,
having complete authority Of any associa-
ton that treats its rival In trading dishon-
estly. by giving away its goods or selling
them below cost for the purpose Of destroy.
ing the complainant. to fine the offending
corporation to sucvh an extent as will
make 1t oner Its goods for sale. in fact in
stead Of In pretense II 1t chooses to enter
into trade.
He found authority for this act in the
commerce clause and the fourteenth amend
ment, but he recommended an amendment
to the Constitution, giving Congress power
by Appropriate legislation to suppress and
prevent dishonest competition In trade.
There was very animated discussion of
motion to table. There was also great ex-
element on the hoor and finally It was
agreed the report should be taken up at
later session.
At the conclusion of William A. Glasgow's
paper. discussion Of the report of the Com
mtttee on Commercial Law was resumed.
After much discussion, a resolution offered
by F. N. Judson Of st. Louis directing that
the report be recommitted with instruc-
tons to the committee to report remedies
for illegal combinations which threaten
commercial Intercourse. was adopted This
action Is regarded as victory for the party
which contended that the subject of trusts
10 an appropriate one for the American Bar
Association to consider