Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1909-11-20

| The other provisions Of the act In like
manner az any other fled and publish
cd rate the agreement. however not
TO amount TO q contract TO maintain
the rate for any given time. but
each party 10 have tho right To With
draw from or alter such rate
"Rv specifically empowering tho
comm isslon 90 prescribe regulations.
under which shippers shall have thu
privilege Of designating the route over
which their shipments shall be care
ricd.
"ny providing that no railroad conn
pauy shall acquire stock lr amy come
petinr railroad COMPANY. and. pos ii-
bly,. that no railroad company eng1g-
ed iu Interstate commerce shall hold
stock iu competing railroad
BY provlding that mo- railroad CONE
pany engaged IN Interstate commerce
shall issue any additional stock or
bonds except with the approval of thu
commission. and for a price not less
thpn par for stock. and not less than
the reasonable market value for bonds
THESE notifications Boz the act would.
10 IS believed. make 10 am effective
measure 60 obtain reasonable rates and
fairness 81 practises I'm tho operation
OF interstate milrood lines
SHERMAN ANTITRUST LAW
Mr. Wickersham. IN speaking OF the
sherman antitrust law. said that no
statute was 80 generally misundvr-
stood.
The speaker said the great purpose
TO be borne in mind IN connection with
this and similar legislation Is always
the preservation OF the freedom e.
trade
NO doubt" said he "the sherman
act Is sufficiently comprehensive To- 1a-
stroy such monopolies as the holding
corporation. but az the same time that
the national government FORCES
weapon to destroy abuses 10 must pro-
vide a substitute Tor those legitimate
enterprises that are equally dependent
for their excellence upon the system 20
abused
IT must provide a means Of enabling
cooperative enterprises % engage free
ly in interstate and foreign commerce
without interference by state action.
which fetter. conine and destroy the
possibility OF such free pursuit. This
can only be done by the enactment ~ a
federal law providing for the formation
OF corporations to engage In trade and
commerce among states, protecting
them from undue Interference by states
and regulating their activities so as 10
prevent the recurrence under national
auspices Of those abuses that have
arisen under state control
such a law should provide for the
organization and management of trad
ing corporations. IT should protect
corporations organized under IL from
undue interference by state authorities,
subiecting its real and personal prop
erty only 90 such taxation as Is impos-
ed by the state upon other similar
property located therein and 1t should
require II to file complete reports 81
It's operations with the bureau OF COR
poratiOns or some other similar office.
such corporations should be pro-
hibited firm acquiring or holding stock
of other corporations.
These agencies Of commerce. thus
created under national authority, should
appeal TO legitimate investors and 40
legitimate enterprises. They would not
afford the same opportunity for stock
watering and stock juggling as exists
today under the complex and conflicting
regulations OF many states but they
would offer 20 investors a security that
does not exist under the present sys-
tenn: and. n awaited Of 90 a large ex-
tent. Il might be advisable az some
future time 70 prohibit trading corpora
tions. organized under state laws, from
engaging i'm Interstate commerce.
This. however. should be considered
only II the state OF voluntary organiza-
tion under national law should make II
clearly contrary TO the general welfare
that no other than national corpora
tons engage In interstate trade