The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1910-02-07

Unless there Is some unlooked-for de-
rangement of the legislative schedule.
| Congress to-day viii receive the most
radical bin which il has received-and
which had any prospect OF becoming a
/ lawn the last fifty years, according 10
experts who are familiar with the course
of law-making.
The Taft Federal Incorporation bill,
which the administration believes viii
provide a safe method for national rec
ognition Of large combinations and which
will. at the same time, give control Of
such combinations to the government,
will be presented by Senator Clarke, OF
Wyoming. and Representative Parker, Of
New Jersey. chairmen of the Judiciary
committees Of the Senate and House.
idea an Old One.
Although the idea of national incor-
poration is. perhaps. as old as the United
States. and has been discussed for the
last ten years, it did not become a con-
crete proposition until the last few
months.
Since November l the Attorney Gem
eral and many Of his advisers have been
interested in this bill The completed
draft represents. the administration be-
lieves. the best plan which can be brought
forward.
A few weeks ago the President did
not expect TO see the Incorporation bill
become a law al the present session. This
expectation was based upon the belief
that in matters so important to the whole
nation Congress would be unwilling 10
act conclusively without prolonged con-
sideration.
Since the proposition, however, has
been made the subject Of discussion
among public men, the attitude Of the
administration has changed, and it is now
believed the bill may 60 far along the
road toward passage this year if it does
not actually become a law.
Big Cases Pending.
While il has been said the Supreme
Court will not decide the Standard OH
/ case and the American Tobacco Company
case until October. it is believed the de
flSlbll must Ah btfdtiE Will t'f 1AilNh A.IF
corporations If the decisions do favor
/ the government. it has been pointed out
there is not one big combination of cap
ital which does not face dissolution
Unless there is legislation along the line
proposed i'm this bill, the great business
/ concerns of the nation are therefore in
danger Within the last few days George
W. Perkins. Frank Vanderlip, and ]. J.
/ Hill have Endorsed the Taft plan. The adj
minlsTation does not believe that because
there is combination Of capital there is
combination Of evil. and, for the sake of
business. il would like 70 see Congress
pass this bill
/ On the other hand administration ad-
viseTs point out that Federal incorpora-
/ ton does not tend 10 grant immunity to
offending concerns or to permit the Gre
alton Of monopolies or stock watering
with its consequent evils Under the
proposed plan, corporations viii be re-
I strained and subjected TO regulation.
which, It would appear, is to be more
/ drastic than that under which the rail-
roads now do business.
/ One principal objection to Federal in
corporation, which so far has not been
/ met. IS there is no provision for the con-
/ troll by any State OF corporation which
/ has a national charter As the bill is
drawn. the control of all corporations
which take out charters is vested I'm the
United States. and there does not seem
! to be any method by which a State could
| interfere with its operation, although It
violated state laws.