Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1908-02-01


stock. jobhing and the manipulation of Sc
curties Certain wealthy men of this
, stamp, whose conduct should be abhorent
to every man of ordinarily decent con
science. and who commit the hideous
wrong of teaching our young men that
phenomenal business success must ordin;
the last few months made 1t apparent that
! they have banded together to work for
reaction Their endeayor Is 70 overthrow
and discredt all who honestly administer
| the law, to prevent any addltional legis-
ation which would check and restrain
them and to secure II possible r tte e1ern
INSCRIPTIONS wrongdoer to do what he
wishes unchecked provided he has enough
movement in which these men are engaged
| Is to make clear 70 the public Just what
| they have done In the past anu Just what
| they are seeking to accomplish In the
! present,
The administration and those who sup,
port its views are not only not engaged
In an assault on property; but are s1renw-
The wise attitude to take is admirably
s.ateu by Governor Fort of New Jersey In
his recent inaugural address; the princi
| pies which he upnolds as regards the
state being of course Identical with those
which should obtain as regards the ma
ton.
lust and fair regulation can only be
rights of the state. The state grants all
corporate powers to its railways and other
bubble ut;.,.ty corporations, and may not
only modify, but repeal all charters and
charter privileges 1t confers 1t may.
therefore, impose conditions upon their
operation at its pleasure or course. IN
the doing Of these things. 1t should act
wisely and with conservatism protecting
all vested rights of property, and the In
terests OF the innocent holders of the Sc
curties of existing Quasi-puDlic corpora
lions. Regulations therefore, upon a wise
basis: of the operation Of these pubic
utilities companies, including the liking or
| q
and subject to court review, should be In
trusted to a proper board. as well as the
right to regulate the output of stock ana
the bonded issues of such corporations. II
this We're done. 1t would inure to the bene-
fit of the people and the companies, for it
!, would fix the value of such securities. and
act rs a guaranty against their deprecia-
! ton Under such a law, the holders OF
existing securities would ind them pro,
teCted. and securities offered would
have. the confidence of the people because
of the guaranty of the state chat they
} were only issued for extensions or better
$ ments. 1t IS difficult to suggest any, legls
$ laton that would rive greater confidence
a to the public and investors than a wise
S public utilities bill: and the mere sugges-
Y class of security holders to feel that their
! holdings We're strengthened, and that the
i state was about to aid the managers Of Its
e public utility corporations to. conserve
r their corporate property for the. public
t benefit and for the protection of invested
canital.
The time has come for the strict super
vision of those great corporations and the
Y limitation of their stock and bond issues
s under some proper pubic official. 1t will
d comnnnics doing a legitimate business and
d eliminate. let us hope those which are
r merely speculative in character and or
5, or crednlous investor Corporations have
come in our business world to remain t for
I al. tne oorporate mln,nous ' IN
many cases. Every urTtness or enterprise
: ho1es,s INCORPORATED sI' NV ne n nn ~
pn s tnr uir' i orrnnizatian Gapita
2, vested in corporations must be as fre.
n. ron Mi1nsiu, "t.n's ~ hnid do eror,.
Is ndlvldnals ana tne STATE snomau at nVet cry
& thlng 10 roster ana protect lhv .rf GO!
u, porate capital and encourage the e1 publ
re- In giving to 1t support and confidence me-
lc Notnlng WI. 40 50 nut, ~ .n ~,
ir tonrrol OVER s.orh anu MI, pp n n -
lie snet so ,.'at M ,,n nav knnw Who
a. te.en anu me pc rtoo, li n hona
that the name on tne staie upon !, , st,n',
IS. as guaranty tina, there Is value neni'i ~,
ana reasonanlc saIeiS IN ,s p th ,ata u u
me SUPERVISION nn tRe r SG,1.is 81
at not for the purpose OF striklng az corpot
I'd ade M OF niz ond nrI
ed capital put rather 10 recognize ana PFC
o. tect ensuing cohulttons ana insure sreats
In safeguards tor the futnr e. .+o+o Who,
as Capital does not 20 mo SAL Mh IL
ed injured: II comes onlv where wise; col
til serVhtlNe' sale lfehl meht is hssuleu, a..
rs II should ne orr policy TO encourage t. . Il" u
he secure corporate rights anu ,ne nes. =
ny terests OF stoc; ana nond hoiders COMM
of ted TO our iegai care
y, HIGHESr REGARD FOR HONESTY.
Under M circumstances would we con-
err tonnnce attocks mon Iow.abidinr propert,
Of or do aueht but condemn those Who hoj
mt i'm rich men as being evil men because .
1r. their riches ON the contrary, our who
he effort is TO insist upon conduct, and ncitl
IS. or wealth nor proprrtv nor any other ella,
in distinction MS bning the proper standar
err by which to Judge & actions of mel
For the honest man of great wealth "
nnye n hearty regard. lust ms we have
!. hearty regard for the honest politician an
honest newsnapcr.f But part of the NOV
:. ment to uphold honesty must be a NOV
OF ment to irown on dishonesty We attnt
vi only the corrupt men of wealth, who M
ny in the purchased politician the most @
to ficient instrument of corruption and In IL
purchased newsnnper. the most cfficie]
m defender of corruption. Our ma
1r: quarrel is not with these agents and re
OF rescntntiyes of the interests They deri
FOR their chief power from the great sinist