The Vinita daily chieftain. [volume] (Vinita, Indian Territory [Okla.]) 1902-1913, 1909-07-09

Guthrie Oklh., july .. al "iAVNPN~N
ed endorsement to the democratic con-
stitution of Oklahoma from no less
authority than the attorney general of
the United States, Geo. W. Wicker
sham. 1t cannot be said truthfully that
Mr.. Wickersham was making any spec
ial effort to boost the Oklahoma brand
of democracy, in fact he was not think
ing of Oklahoma at all, but was max
ing a speech before the Kentucky State
Bar association on how to control cor
porations. The associated press quotes
as follows "He then took up the mat
ter of determining the value of a cor
poration in separate states, quoting the
supreme court of the United States.
That it was lawful to include not mere
ly the tangible value of the property
but that proportion of intangible prop
erty which the value of the tangible
property in one state bore to the ag-
gregate of the tangible property in all
the states, in which the corporation
did business"
This is exactly the theory that our
state government has used and ac-
counts for the raising of railroad
values for taxable purposes about nine
hundred per cent The railroads con-
tended before the board of assessors
that this was far beyond the physical
value of the railroads, but the board
of assessors contended that there was
an intangible value upon which the
railroads paid dividends which should
be assessed Mr.. Wickersham appears
to be very much in line with the demo-
cratic administration of Oklahoma. In
this respect he does not much resemble
that class of republicans who are now
managing the republican machine.
In speaking of the injustice of allow
ing one corporation to hold the stock
of another corporation, General Wick
ersham said: The device of the hold
ing corporation is the only thing that
has made possible the rapid growth of
the great trusts and monopolies and a
prohibition such as that stated would
go far toward their destruction"
The Oklahoma constitution contains
just such a prohibition as was endors-
cd by General Wickersham. 1t is found
in Section Al, Article 8, and is as fol
lows:
Section Al No corporation chartered
or licenced to do business in this state
shall own, hold, or control, in any man
ner whatever, the stock of any com
petitive corporation or corporations
engaged in the same kind Of business,
in or out of the state, except such
stock as may be pledged in good faith
to secure Indebtedness acquired upon
foreclosure, execution sale, or other
wise for the satisfaction of debt. In
all cases where any corporation ae-
quires stock in any other corporation
as herein provided, it shall be requir-
ed to dispose of the same within
twelve months from the date of ac-
quisition; and during the period of its
ownership of such stock it shall have
no right to participate in the control
of such corporation, except when per
mitted by order of the corporation
commission
President Roosevelt said that his
opinion of our constitution was not
fit for publication General Wicker
sham indirectly endorses this impor
tant part Of our constitution and ad
vises Kentucky and other states tC
enact similar law which he says viii
go far toward the destruction of trusts
and monopolies. One thing is self
evident, either General Wickershan
must be muzzled or every bit of the
stuff recently sent out by the republi
can press bureau will be controverteC
by republican authority.
Just now the remarks of Genera
Wickersham are very timely for thai
part of our constitution which pre-
vents one corporation from holdinl
the stock Of another is under fire anC
strong effort is being made to have
II repealed.
w. j. Bryan repeatedly said tina
Oklahoma had the best state consti
tuition ever framed, and every day see
new converts to that theory. It i
not at all unlikely that some membe
Of the republican administration vii