The Forrest City times. [volume] (Forrest City, Ark.) 1871-1919, 1910-01-14

business
merce act applies that a law be enact
ed providing that no railroad corpora
ton subject 10 the interstate commerce
act shall hereafter for any purpose con-
neeted with or relating to any part of It's
business governed by said act. issue any
capital stock without previous or stimuli
tareous payment 10 II of not less than
the par value of such stock, or any bonds
or other obligations Except notes matur-
ing not more than one year from the
date of their issueD, without the previ-
Gus or simultaneous payment to such cor
poratfon of not less than the par value
of such bonds or other obligations, or.
II issued at less than their par value.
then not without such payment of the
reasonable market value of such bonds
or obligations as ascertained by the in
terstate commerce commission: and that
no property. service. or other thing than
money, shall be taken in payment to such
carrier corporation, Of the par or other
required price of such stock. bond or 9th
or obligation. except the fair value of
such property. services or other thing as
eertained by the commission"
Would Prevent Wrong Practices.
The president continues:
Il believe these suggested notifications
in and amendments to the interstate com
merce act would make il a complete and
effective measure fer securing reasonable
ness of rates and fairness of practices in
the operation OF interstate railroad lines
without undue preference To any indvidu-
al or class over any others.
by my direction the attorney general
recommendations, which will be fur
nished upon request to the appropriate
committee whenever 1t may be desired
In addition to the foregoing amend
ments of the interstate commerce law,
the interstate commerce commission
should be given the power. after hear
Ing, to determine upon the uniform con-
struetion of these appliances as sill
steps, ladders, roof hand holds. running
boards and hand brakes on freight
engaged In interstate commercc-used by
the tratnmen in the operation of trains,
the defects and lack of uniformity in
which are apt to produce accidents and
injuries to railway trainmen. The won
derful reforms effected in the number OF
switehmen and trainmen injured by coup
ling accidents, due To the enforced in
PRODUCTION of safety couplers. is a demon
stration of what can be done il railroads
are compelled TO adopt proper safety APP
planes.
The question has arisen in the opera
tons of the interstate commerce employ
ers liability act, as to whether suit can
be brought against the employer com
pany In any place other than that of its
home office The right TO bring the suit
under this act should be easy of en-
forcement as the right of private per
son not in the company's employ to sue
on an ordinary claim, and process in each
suit should be sufficiently served IL upon
the station agent of the company upon
whom service Is authorized is made, to
bond the company in ordinary actions
arising under state laws Bills for both
the foregoing purposes have been con
sidered by the house of representatives
and have been passed and are now be-
fore the interstate commerce committee
of the senate l earnestly urge that they
be enacted into law
Control of the Trusts.
The second part Of the message is de-
voted TO the control of trusts. After
lengthy discussion of trusts. good and
bad. and the success of prosecutions un-
der the Sherman antitrust act. Mr.. Taft
says.
ut is the duty and purpose of the exec
utive to direct an investigation by the de-
partment of justice, through the grand
jury otherwise, into the history, organ
ization, and purposes of all the industrial
companies with respect to which there is
any reasonable ground for suspicion that
they have been organized for purpose.
and are conducting business on plan
which is in violation of the antitrust
law The work is a heavy one but it
is not beyond the power of the depart
ment of justice. if sufficient funds are
furnished, TO carry on the Investigations
and TO pay the counsel engaged in the
work. But such investigation and
possible prosecution of corporations whose
prosperity or destruction affects the COM
fort not only of stockholders but millions
of wage earners, employees. and associated
tradesmen must necessarily tend to dis
turb the confidence of the business com
munity. to dry up the now flowing sources
of capital from its places of boarding. and
produce a halt in ctr present prosperity
that will cause suffering and strained cir
cumstances among the innocent many for
faults of the guilty few. The question
clearly To the consideration and decision
of the congress whether to avoid business
danger something cannot be done by
which these business combinations may
be offered a means without great finan-
cial disturbance of changing the char
acter. organization and extent Of their
law under federal control and supervision
securing compliance with the antitrust
statutes.
For Government Control
Generally, in the industrial comhina-
lions called trusts the principal bust
ness is the sale of goods in many states
and in foreign markets. in other words
the interstate and foreign business far
exceeds the business done in any one
state. This fact viii Justify the fed
eral eoNerament in granting a federal
charter To such combination TO make
ana sell IN interstate and foreign com
merce the products of useful manufac-
ture under such limitations will Sc
cure a compliance with the antitrust
law. 1t is possible SO To frame a statute
that while il offers protection TO a fed
eral company against harmful. vexatious
and unnecessary invasion hX the states.
II shall subject II 10 reasonable taxation
and control by the states. with respect to
its purely local business
Many people conducting great bus-
nesses have cherished Il hope and be
lief that in some way or other a line
may be drawn between good trusts and
bad trusts. and that il is possible by
amendment 10 the antitrust law 10 make
distinction under which good combina-
tons may be permitted To organize sup
press competition. control prices. and do
il all legally If only they do not abuse
the power by taking too great profit out
Of the business They point with force to
certain notorious trusts as having grown
into power through criminal methods by
the use OF Illegal rebates and plain cheat
ins. and hN various acts utterly Violative
OF business honesty or morality. and urge
the establishment Of some legal line of
separation by which criminal trusts of
this Kind can be punished and thay on
hand -
law 10 carry on their business Now
the public. and especially the business
public ought to rid themselves OF the
idea that such distinction is practic-