The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1905-01-10
PRECEDENT FILL ON RE9JLAT.
E%G CORPORATIONS,

u |hatevor eli me- be said Of Mr. Hi
must lie confessed that re is
nan of keen ana penetrating Incigh
lro tlirg and Of fine judg nep H
s conceded 10 be tire most astutt
rail- Dad builder and manager in to-
United States ana what he says re
glrding re control Of corp rlticns
II whicl he himself is a c9nspicrou
I ropr t,er' alive. r az l9ls. interest
ing if not Instructive.
Mr. Hill fayors the plan of icons
ing the corporations. Thi Is the
glan fiIse propoeel by Mr. Bryan. as
TIC Bulletin slowed in quoted ed
itorial from the Me- FORK W rid yes.
terday morning n is interesting to
note that Mr. Hi endorses Mr. Bry
ans plan Eight years ago Mr. Hin
Yas among hat large number Of bus-
sncs3 mcn who viewed with alarm
any iIea emanatiDg from the mind Of
The gentleman from Nebraska, The
1roaidant of the Great Northern
says he favors a capitalization based
on real money and not water The
late lamented Northern Securities
merger" engineered entirely by Mr.
Hill, vas doubtless not under consid
Grafton when he made this statement
He is "oppoSed to pooling and would
De glad to nave rebates suppressed.
He, however, ba,ks at the suggestion
that the government fix the rates, say
ng that il is not zine for statute
aw to supplant the laws OF trade.
1t Is. however. very interesting
,contribt ION TO the subject of regula-
len that Mr. Hill makes in his World
.snterNaewi pbftion Of which i: pun.
ished below: f@iW
/. "Thesa is q very single methoda of
aeai rsi@ Il SO trc3i tup ti1n, says
Mr. HAh = Ct IT ~ made neca. sary
for any industrial corpolation that
wishes to do aa Interstate business to
secures aafedefai license; bu; before
aaSats licenre Is issrsd b'he corporl
ton must prove that aitI capital is'
zeal money anu base upon aetna
ralue.
"a majority OF trt:s.si nowadays are
nc products Of promoters who hlsti
" sgather in two or three concerns
yhstewash hetn oyer and over agar,
issnu sneavcs Of printed aacuri;ies
md carry tlem down to Wall street.
70 iced the lambs.
NJ Every railroad would be happy TO
have rebates abolished and fhe law
Sgain. t them enforced.
'Wag does. not she Interstate .sott
ncrce rommissian -T,r1secqte Presi-l
lent Ripley Of the A.enison fine has
Seca giving Tetaies9 Tie law never
MS been enforced nor any one prose
~ j.
"A pool is a zane IN which you
hand ever YOUR property TO snothe;
nan to diyile-a device by which a
weaker concern seeks TO obtain an
equality with the ,tronger
The inevitable law of nature is
tie survival ~ The ntte3t lou can
rot change that law by legislatures.
1t nay work for a slor; time. but in
the long run nature viii triumph.
"A railway pool would help ono
to.n and ruin The next.
THE Canadian Pacific railway once
out en- a line of steamers from San
Francisco to IFS terminus az Nancou.
yer and cut The transcontinentaI rates
The Transcontinental pool then in ex'
is,cncc paia The Canadian Pacific half
a million a war to iiscqntnSc. bust
moss or OF Sau Francisco
Who paid tiat half million? The I.
hippers. Of course
"southern Planters are burning .aeir /
attba lauan and the Far sIsas, could /
Inc 1000. 1000 bales Of oar eBiOn, but
'hc past year they took only abous
2Cl 006 bales.
"Noi long ag5 VIC made a through !
rate Tor oo.son from Galveston toll
Hcngkong. The govcnmen. ordered
as TO publish orr rate--rnakc 1t
known = tle world We declined ans
tLc rate Tlc cr'ton Is 4
beng burned
In one year the Nor,ntm Securi- |
ties company reduced freight rates .
iwo million dollars. 4
Fl, government avs yc mu pdb /
llsh our rates and have them all /
equa' ized.-cycn fixed by the govern /
N Rta .Hts .t...
f,Cpmpetition Is the text that proves
he survival of The liltcst
NO government has right to put
a check ON one ana give a bounty tot
another.
Tho serious obieciiOu TO trusts is
tho method Of their ereu.iou-n0t for
me manufacturing any particular com
nolity. but for tsle purpose of selling
) ccuritici which represent n hing
more than god will and .ho pro pc
tive profits to The promoferi
4 do not include all trusts in tins
classification, but large majority Of
hem. N
Any company desiring TO do inter
safe business should be compelled 10
satisfy federal department OF com
missiulf that it5 capital stock was &C
tually paid up IN cash or property at
a fair valuation just as the capital Of