Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1907-01-05
fall to be seriously impaired IL tho
Standard is dissolved.
STATE GOVERNMENTS ACTIVE.

STATE GOVERNMENTS ACTIVE.
Not only has the federal government
been active In investigation and prose-
cution, but a strong agitation is in
progress In many states to force obedi-
ence to their laws by foreign
corporations. Recent developments
I'm Missouri indicate the prob
ability that the charters of ostensibly
independent corporations, such as the
Waters-Pierce and Republic Oil COM
panes, whose stocks are owned by a
company incorporated by another state.
viii be attacked, and IL possible re-
voked. Between the assaults OF the
president and hostile activity of the
states, the trusts are likely to be Sc
verely perplexed before they reach a
secure legal foundation.
Their present position can be de-
scribed in no other way than as dam
gerously precarious. The passage of
the Hepburn bill promised to elimA
mate the worst abuse connected with
the trusts, and the only important
cause of their monopoly position-the
existence of secret agreements between
railroads and large shippers, which
gave to the shipper rates and services
not granted to less favored Competitors
The new law is being vigorously on
forced. The Standard oil company
and the American Sugar Refining COM
Ing and accepting rebates. Sharehold-
ers In these corporations and In the
railroad companies are not fully pro-
tected against this evil. however, as
long as fines assessed against the COR
porations are paid not by the officers
individually guilty OF violation OF the
law, but out of the corporations treas
ury. In this way officers shift the
burden of paying fines from their own
shoulders to those of shareholders who
II they are not morally innocent of law
breaking, are at least presumably ig-
norant that the men chosen to posi-
IONS OF trust are violating their
pledges.
That the public is gaining ground in
It's struggle against the secrecy which
surrounds few of the most powerful
trusts was shown In two directions
during the last year. In the first place
the STANDARD oil company established
a department OF publicity. which has
Tor us avowed purpose the creation
and fostering of a more enlightened"
public opinion concerning the benevo-
lent despotism OF that corporation. II
mas not yet attained TO the dignity OF
an annual report. either to It's stock
holders or 10 any publicly constituted
authority, but a company controlled
py standard Oil interests-the Anal
gamated Copper company--took It's
initial steps In that direction last June.
IL issued an annual Statement" which
cannot properly be called a report, but
when indicates desire TO pay some
attention TO the rights OF Shareholders
10 receive Information concerning the
condition OF their business. The state
ment was interesting so far as Il went
but Il was deficient In the particulars
which every stakeholder should know '
regarding property In which he has
share. There was no income account
and no record OF the profits. notwith-
standing the fact that this company
had placed Its sl53OOO, 900 OF stock In
the hands OF the public The establish
ment or the stock upon an eight per
cent dividend paying basis Is gratify-
ing 70 those who hold IT, hut Ii would
not be sufficient To warrant invest
ment In the securities OF the company
~ the absence OF more definite informa.
lion regarding its operations.
THE STEEL TRUSTS COUP.
II we except the steady progress OF
me country toward control OF its big
corporations, the most important de-
fe'Nf REM OF the wear IN tho naid 20