The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-01-05
Odds AND Ends
or
$3.50 and $500
SHIRTS
==ONLY==
SEE OUR CORNER WINDOW.
Burg. E. Zeis

rates: for the reasonable and just ex-
ercise of such power in classifying and
regulating freights and fares, by pro-
viding that such power shall be exer-
cised in a way to yield such railroad
corporation not less than per cent per
annum upon the value of its road and
property. to be ascertained by Such
! commission, for summary proceedings
/ in the courts on the complaints of rail-
roads or private parties concerning any
decision of the interstate commerce
commission; for the imposition OF
/ percentage tax on the gross receipts OF
/ all such corporations in lieu of taxes
on property and stocks and bonds and
I in lieu of all taxes on the bonds and
stock in the hands of stockholders, the
property of such railroads and bonds
and stock to be entirely exempt from
state and local taxation; for just
plan of distributing such taxes by the
4 federal government among the states
/ in which the roads operate, the percent
age to be adjusted so as to yield in the
aggregate an amount equal to the
taxes now paid by the roads ana to be
increased gradually through q perlod
of ten years until it reaches an aggre-
gate of per cent or the gross receipts
of such corporation.
The act also shall provide for the
| correction of existing abuses and for
! the prevention of rebates, preferences
and determinations.
There is also a. provision for the
!
! United States treasury for employees
disqualified by injury or age for ac-
/ tive service, by the setting aside of
/ percentage of the gross receipts, and
/ for arbitration of disputes between
the railroads and employees.
Heyburn's Bill.
A national board to exercise super
vision and control over corporations is
provided for in a bill introduced in
the senate by. Senator Hepburn tits
proposed that congress create a new
| department of government to exist in
/ connection with the department of
commerce and labor, to be known as
the national board of corporations"
This board shall consist of five per-
sons, four to be nominated by the
president, for terms of four years each
/ at salaries of $1,000 annually, and the
fifth member shall be the secretary Of
labor
Authority far greater than that en-
| joyed by the departm ent now entrust-
ed with the regulation of so-ealIed
| the national board Of corpora tons, if
| Senator Heyburn's bill becomes a law.
The bill provides that the board shall
have the power to compel the produc-
ton Of all books or documents, or the
attendance of witnesses necessary to
/ the investigation of any question af-
/ fecting the right of a corporation to
engage in business under the pro-
visions of this act
Under the provisions Of the bill no
corporation would be permitted to en-
gage in business in any state other
than that in which it is Incorporated,
unless satisfactory proof is first sub
mitted to the national board that such
corporation is Incorporated for a legiti-
4 mate purpose. that 1t is solvent; that
1t is not party to any agreement to
| operate in restraint of trade or COM
merce or which results in giving to it
or any person or corporation engaged
in the trade an unfair advantage over the
/ otnerS; that it is nOta party to any pooling
plan, which when carried into effect,
/ would create a monopoly of the trade
or business in which such corporations
are engaged; that no voting pool exists
1 by which the full and free right to vote
4 the stock of the corporation by the ac-
tual owners of such stock is abridged
l or prevented; that no part Of the capt.
tai stock Of such corporation shall be
owned, controlled or voted by any other
| corporation.
1t is provided that an interstate
/ transportation corporation doing busi-
ness as a common carrier shall not be
controlled by any other corporation
I engaged in like or similar business or
by any trust or controlling pool of in
terests or other arrangement or mer-
Der of operations or interests of such
4 corporations. If the corporation is
| one engaged in the production Of coal
or coal products. or engaged in any
other productive or manufa curing or
commercial industry. it is provided
that it shall not receive any rebate or
advantage in rates or transportation
which would give to it any discrim-
mating advantage as against any 9TH
er person or corporation shipping
products of a similar character over
such transportation lines under like
conditions
In the case OF all corporations 1t is
provided that the.- shall not become
parties to any trust arrangement
which would create monopoly of
any commercial interest.
The bill would require all corpora
tons to file annually with the national
/ board of corporations detailed state
ments of their affairs. together with
af1davits that the provisions of the
measure creating the national board
had been complied with.
Won sDaun starts for Paris.