Warren sheaf. [volume] (Warren, Marshall County, Minn.) 1880-current, 1910-01-06
TAFT TO ATTACK
THEW|CkED TRUSTS
DISPATCH TO CHICAGO. PAPER
GIVES FULL DETAILS OF PRES.
dents MESSAGE.
DECLARES LAW IS VIOLATED
Sherman Law Strong Enough To Rout
EviI.-FederaI Incorporation Recon-
mended as Refuge for Honest
Business Organizations.

Chicago, Jan. At is possible to
present the full details of the corpora.
ton message which President Taft will
send to congress next Wednesday, says
Washington special to the Tribune
The message also deals with the pro-
posed amendments of the interstate
commerce law.
With respect to the corporation, the
presidents views, summarized, are:
No amendment to the Sherman anti.
trust law Is necessary.
Many large corporations are violat.
ing the Sherman law.
1t is the duty of the executive to en-.
force the law, but if this be done, as
is his intention, panic or commercial
chaos may be precipitated.
AS refuge for the large combina.
lions he recommends national incor-
poration law.
What Laws Should Provide.
He says the law should provide:
Voluntary Incorporation
Supervision by the bureau of corpo-
ratlons of such combinations as Sc
cure national Incorporation
Control by the bureau of corpora
tons of all issues of stocks and bonds
which shall be paid for in cash, prop
erty or services.
Prohibition OF a corporation to own
stock in competing corporation.
Annual reports covering the final.-
cial condition, the business organiza-
tions and corporate transactions of
the corporation.
The safeguarding of business Sc
crets, while at the same time provid-
Ing for the publication of al facts so
far as they may be in the public in
terest.
Defends Proposed Law.
The president will declare that, in
his opinion:
The law is constitutional.
1t Will not lead to any greater con-
tralization Of power.
It will enable the large corporate
combinations of capital to operate
lawfully for their own economic ad.
vantage and to have q public stand
ing. = !: -
It will enable people to share in
economy Of administration the cheap
'ness of products.
1t will insure efficient regulation in
the interest Of the public.
1t will eradicate the trust evils.
1t will prevent monopoly.
1t will produce fair competition.
Discuss Sherman Act.
The message begins with a discus
sionOf the Sherman antitrust law. It
reviews the decisions rendered by the
supreme court of the United States
in connection with the construction of
this law.
1t specifically mentions the case of
the United States vs.. the E. c.. knight
company. The president says that ow-
ing to the narrow scope of the plead
iags Of counsel In this case, the court
was unable to take into consideration
the questions which it ought to have
been able to consider, and that the
court consequently was compelled to
hold that the sugar trust did not come
within the limits of the law.
AAtS CASE, uO"0NoT, O1U not cover
combinations for purely manufacturing
purposes. Later decisions have con-
Btructed the law to cover effectively
almost every phase of industrial op-
-srations.
If these decisions are to be upheld
by the decisions to be handed down. Ia.
ter (the president does not refer speci-
IDEALLY to the Standard Oil and tobacco
trust prosecutions, but he unqnestion
ably has them in mind, it will be the
duty of the executive to proceed
against many corporations which are
violating the statute.
The president says that while under
3he common law, only contracts ne
tween combinations would be inhibite.
as in restraint of trade which are TIN
IOEeonable, practically the same result
nus been attained by The decisions OF
tie court, which has held that incl.
dental and indirect restraint Is not in
hibited.
He bel1ves this to be proper. The
law, as it exists, is efficient to put out
of business vast number of corpora
nOns as they ave now organized. I'm
der the circumstances he does not con-
slider any amendment to the law really
necessary. H. =.