New-York tribune., 1907-11-11
THE PRESIDENT ADVJSED
1hanhs e. b. PrusSimg for Sugges-
mons on Corporate Reforms.

,'9 j." alsNnstoh' Nov 1o-Eugene E Prussing, well
NoWh chicago lawyer, for three years president
eiie Cllzens Association there called on the
teSiueht t yesterday to present his views on cor
PotaIe reforms. The President read and discussed
win interest the brief statement which Mr. Prls-
sing submitted. 1t follows:
raiIroad reform antitrust law amendments and
ST hon ~ CONGRESSES attention General corpora-
Gassed second in Importance phdsgS H may may Iary be
these a corporation matters leads me to offer
era fsT question that of jurisdiction of the fed
Ienge of the opposition BE the Saal
that is 10 saw m 5he ine Of the least resistance
sentiments I ana doy2i government, as well as the
National contrd, upon s these even if extreme.
~ i as distinguished from national incornorsfion
by most men of both VIII De readily granted
&c Compulsory publicity Of accounts the s,biac-
,F ~, Ol DOCKS papers and plans to inspecton &c
u officials will be easily acc0mnlished
i9rneys General. slightly modled viii be G5 m A.
rights men ana G9a WI be approved by
other corrsa haI me right to hold stock in any
'e ia commerce corporations 1t seems TO me tba+
owners of = % o-n -Lts-naneiy to compel the real
0or+ haie-can be achieved by requiring the cor
poration in in U%Sng stock in another and the cor
tbo lu sLockhoIoers respectively in every csee in
companies WIN be permitted and H9heST Tef holding
1in3isv POSSIBLE assault OF local taxation or other
SiJII9'iy discriminating laws. lust as Ta+iSS,Si
p1HS now are while the public in turn viii ba ye
protect Itself '-'' = Is oeaNhg with and can
p, me change Of all state banks and trust comma
a Da single amendment of the national h
Trit VII IA aus" be popular and can be along states
The proposed change is this: Give Nation,
0UenCaro" o"o 9uditlonal powers and their conse-
,n PHStrIo accept and execute trusts bv cornr,x
as "lth the general state laws on tbs+ s,IbPt+
iupobieHe biHe' they exist and in the District of Co
Second-Io accept trust savings and Tina 7orost.
ma & &ep separate accounts of the totals of these
IIidhnS rules for proper notices OF ,itb,1r
aha allow small percentage Of resa-te ce. d -
~ arJ utposlts and also the making of solid hond
Of the S%se ana oiher savings bank investments
.i! .nus every national bank becomes the full cor,
soon tlo % ,. s.4te odhks and trust companies and
banks. ~ 'u 10 become national
Go at the general corporation problem in similar
sue. Keep the subject of Incorporation and 6rdi-
ar control iocal-a state concern make the local
I51tsst -, II possible by appointing com
b. 20 lnNestigate the entire subject. Get the
pest talent Root, Choate Dillon Morawetz Cross
up up ana others OF that type will be glad TO serve
flollc reasons and result will be achieved
IN the form Of code based on principles and ex-
peIlence suited 10 our dual government and varied
yS-utlioHS, Just as II was in Germany In 1870
leto in the enactment Of laws by Prussia and the
Utl-er sLdles OF the empire which have served the
purpose and stood the test of time
/ am sending my paper. with a request for cor7-
menus. 10 the members of the American Bar Asso-
citation and to the great majority of names in T'Ie
Directory of Directors tIIIs rea ching %
fu persons Immediately in touch with the thing it
self The replies already received indicate "a ~ in
doubt good fruit in the shape of suggestions will
result.
At the end OF the interview the President said:
And now, my dear sir, want to pay you a COM
piiment- did not expect you give me single
thlng; instead OF that you have given me several
practical suggestions in concrete form. some of
which entirely ! shall study them with
pleasure l may say you will soon see them
feCted where.