The sun., 1907-10-19

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N1<M BSrB~fstt Esa*s
To vas Epuos ~ Tws svs -s9 am
Interested IN sny sinile, ~ m~tsphos. ~
sll~syrv. ~ psgslyl~ u~-d ~ Ne prs~d~n'
fsf lIlwstgstlow ~ srsum~t w NE csm-
psiap n pus oe,Ssv and hope~ey lssc indus
trial cov,orxtisns snd sspsufsIiy wh~n soy
~ he iIsvssrstsov~ sr. drawn srcm NY ywe
prvfessos
a Ntle whil~ sss. whom N. vss eone.der.
lns the question whc ~ what " f~svpns,ble
Ter ssissirs dhminution ~ inds~sf,~l pros
pertty. Ne sssucd th.t Ne vss sct ~ bs h~ld
responslble. inaam,srh as No had only t,wn~tl
on ths ss~ Ileht which illwuioeted b,ssineas
disho0ytv csurina i~csy ~ enssypri-~
That comperispn conrerneh the sss man.
hut whom ths President ~ Cairo nkeued
hifnsrH to dentr, estrsc,lns . tooth with
sn ulc~r M We rcy,. ths sirsls concersecl
me and my profes~ion.
That he h the sisusirt ls plaifl enough, but
whst reprc~~nts tho tooth AMI the st~c~~- at
the end ~ its fsnsp
The inquiry ntere~,s me. and : have
convcrsed conccrntns " with q good law
yer while IN vas In my operating chair.
] may be unable to use Law lingo acc,r-
steiy. hut will endeavor ~ to do. He told
ms that the misconduct of states like New
Jersey In giving charters of corporations
20 be chiefly used In other States by the
comity ~ thoee States. which could refusc
the comfy " thsy wcre ~ mindcci. and tho
misconduct ~ corporations In general. are
tho evils an extirpation ~ which IL de-
inaudcd ny ths President.
But even then . asked: Which IN the tooth
10 be pulled o,N. and which the ulcer caur-
tx... ~. - a 4
I was told that the supreme Court de-
c'ded in the Northern Securities case that
New jersey can chartsr as many corpora =
tioDs a. she plesses: can authorize them tn
engage In interstate commerce under ma
tional regulations: can define their powers;
can prescribe the amount of shares and
bonds snd capitalization. md can eenev-
ally control all such doings.
President Roosevelt thinks, they say.
that only 20 per cent. of all corporations
in our country are had, and that even in
tho bad ones much of thlk D conduct is good.
Which corporation then. or which part Of
IL, represents the tooth to be extracted?
IL there is an ulcer. can IL be not so treated
ss to save the tooth!
II seems incredible that all New Jersey
corporations represent the had tooth that
the President must pull
IL is even more unthin<abIe that New
Jersey represents the bad tooth which
must be extracted by the President from
the nations Jaw, because she has created
the had corporations and will not supervise
them and prevent their badness
My lawyer. nevertheless gave me to under
stand that the President everywhere refers
TO New Jersey as the most offending State
because she has given 10 80 many corpora
tions created by her very liberal franchises.
which he describes as lax franchises and
because by taxes laid on those lax franchises
to do business in other States she defrays
large part of her State expenses. There
fore. he says. New Jersey is an liberated
tooth to be pulled out
All that seems to me very strange and
queer. II is almost, as you said the other
day. like cutting of man 3 head 10 get nd
of an liberated and aching tooth. which any
expert can easily cure. DENTIST.
NEWARK, N. j., October ~.