The Daily Missoulian. [volume] (Missoula, Mont.) 1904-1961, 1909-02-28
HOUSs MEASURE LEGALiZlNc
HOLDING COMPANIES FAVOR
ABLY ACTED UPON.
ACT IS BITTERLY FOUGHT
Proposed Law Is Strongly Opposed
and Vehemently Defended-Cives
Domestic Organizations Authority 70
Hold Securities in Outside Business
Concerns-A New Jersey Progeny.
ecial to The Daily Missoulian.

Special to The Daily Missoulian.
Helena, Feb. 27.-House Bill No. 1850
passed the senate this afternoon by
vote of IA to 8. The measure gives
domestic corporations the right to
hold securities in other corporations
and was bitterly fought in committee
OF the whole and was Vehemently de-
Tended
The senate also passed House Bill
No. 80, the antitrust measure. with
an amendment
When Senate Bill No 100 was taken
up Everett offered an amendment pro-
viding that nothing in the measure
should be taken as nullifying any of
the provisions in No. $40 This amend
ment was adopted
Everett was the first to speak on
the bill, He said he had no personal
interest in it, but while he gave the
advocates of the bill credit for sin
cerity he said he thought in operation
it would prove more farreaching than
they had any idea it would
In fact said Everett ut is the
most far reaching measure ever intro
duced in Montana legislature This
measure may appear on its face to
be harmless, but such is not the case.
The last l6 years in the United States
have witnessed the greatest political
agitation known to our history over
this very question, which, in essence.
means the conservation and protec-
ton of all our natural resources 1t
permits their control and the fixing
OF prices at the very limit the triffic
win stand or the people can bear"
A Trust Bill.
This bin is in the interest of the
trusts, for the purpose of destroying
competition" declared Everett. with
vehemence. Continuing he said that
combinations were not possible until
the New Jersey law was passed. and
now Montana proposed to go that state
one better. He referred to the consti-
tutional provision about foreign cor
porations being denied any or all
rights not enjoyed by domestic cor
porations. while he declared this bill
purposed giving them all the rights Of
domestic bodies.
Cockrell replied briefly He said
this bill which was causing people to
see ghosts" had created undue ex-
patterned after the New Jersey law.
but said that II other states had sim
liar statutes and that when they were
presented the same cry was raised
against them.
Found Harmless.
When analysed however he
said, this bin win be found harmless
The constitution provides that no cor
poration shall directly or indirectly
form a trust or combination and that
basic law is supreme. House Bill No
$40 also embodies these provisions and
they are not repealed by this meas
ure."
Meyer was recognized and he made
a long speech against the bill. He said
he agreed with Everett that it was a
most far-reaching measure.
What is this bill?" he inquired. TT
is simply a proposition whereby one
can control the whole state
body and soul. 1t will simply result
in the freezing out OF the minority
or a Fleeing of the lambs. Every
business interest in this state will be
1t will apply to foreign
as well as domestic corporations and
this is the milk of the whole bill.
do not believe that it is for the bene-
fit of two men at Great Falls; II so
why is this powerful Standard Oil and
lobby here, the same as
ii is when they have other important
Why is il that this meas
ure has not been given greater pub
licity by the press of this state? Simp-
ly because they own most of the press
Of this state. They should not remain
silent on the subject, especially when
its vast importance is realized. These
Great Falls interests would soon find
their way to that New York office.
The Standard Oil is here in its inter
ests."
Long Favors Bill.
Long spoke in favor of the bill, say
ing that 10 other states had similar
statutes and that no dire results had
He said there were two
questions involVed-one of the law and
the other Of the public interests. He
said the arguments against the meas
ure had not been properly presented
for this is not trust bill"
The vote on final passage was:
Ayes-Albright Cockrell. DAILY, Don
Ian. Edwards, Fairbanks, Haviland.
Kessler Long, Muffley, Mccarthy, Rae,
Truscott
Nays-Cardwell, Cowgirl, Everett.
Meyer, McCone Mcdonnell, Romney,
Sykes.
The senate then adjourned until
Monday. Amin and Selway and Tool
ay and ConroW were paired on $50.
The senate concurred in the house
lrl1an ltnnnt inrrea sing the annrnnria..