Omaha daily bee., 1906-12-08
CUyTKUT Of CORPORATIONS
Secretary Metoalfs FsvOrs Federal
franchise as q Curb
MEAT PACKING LEADS THE INDUSTRIES
Bureau of Immigration shows Allen
Arrivals OF over Million
During the Past Fiscal
Year.

WASHINGTON, Dec. THE report Of
Secretary of Commerce and Labor anet-
caife is in part as follows:
The work of the bureau of manufac-
lures has been prosecuted along the lines
Indicated in my last annual report and in
accordance with the law, which requires
the department, through this bureau, TO
promote and develop the various manu-
and markets for the same at home ana
abroad by gathering, compiling, publishing
and supplying all available and useful In
formation concerning such industries and
markets. During the year a large mass or
information has been collected by the bu"
reau in regard to the manufacturing IN.
dustries of the country, having special
reference to extending the sale OF Alneri-
can products in foreign markets. Under
the system followed the bureau ts en-
abled to speedily reach any PARTICULAR in
dustry and promptly inform It's repre-
sentatives of any particular opportunities
that are offered for the promotion Of
American trade. Commercial reports made
by American diplomatic and consular oti-
GERS are prepared for publication by this
bureau, and through this means oppor-
tunities are frequently offered for the sale
OF American manufactured products
abroad The possession OF classlhed INST
communicate directly with the parties inn
mediately interested, and in number Of
cases during the year information OF the
character described has been sent in ad-
vance to manufacturers, who have protited
thereby.
bureau OF corporations
The bureau of corporations has contin-
ued the work outlined in the annual re-
ports OF the commissioner. The results
thus far obtained. fully Justify the crea-
tion of the bureau. Its Investigations
have furnished reliable information re-
garding the conduct and business OF cor
porations engaged in interstate and for
eign commerce. The facts presented as TO
the relation of such corporations TO the
states and the inability Of the states to
effectually curb the improper exercise OF
corporate powers lead inevitably to the
conclusion that the federal government
must directly regulate and control such
| corporations
Of the methods suggested for exercis-
| ing this power the federal franchise plan
seems the most feasible. This plan is sim
| ply to require the greater Industrial cor
| porations to obtain license from the
| federal government II they are TO engage
| would be no interference with the powers
| of a state over the creation of corpora
| tions nor their actions wholly within the
| state. Under a license the federal govern
| ment should require as condition prece-
| dent to granting the license, a full dis
| closure Of all facts necessary to show the
| ownership, properties, financial condition
| and management of the corporation; fur.
| thermore, the corporations records should
| be open to proper inspection; annual re-
ports should be required; and, finally, the
government should have the power to re-
woke the license and prevent the continue
I ton of engaging in interstate and foreign
| commerce In the event the corporation
fails in its obligations toward the govern
ment or is convicted of violating fedora
does but little to correct corporate abuses
but II the penalty be the denial of thu
i right to continue business a most effoCtivi
remedy is provided. 81. BE- 80