New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-02-08


ing only the requirement of the actual
/ property. In practice, however. as was
/ pointed out IN the case OF Mr.. Hartman
/ ana the Illinois Central. the requirement OF
/ as little as SO per cent often carried with II
tuh control Of the mana cement of another
corporation
Of course, another feature OF the pro
posed law which would check the cen
tralization OF power through stock tTansac-
tons is the requirement that all the
organic and other important transactions
Of the federal corporation must be with
tie knowledge and approval of the Com
missioner OF Corporations This would
etfectually check the secret requirement
OF control through orders for the purchase
Of stock. placed through brokers VINO do
not reveal the identity OF their principals
The purchase by a corporation of the entire
property Of another could not be concealed
from the Commissioner of Corporations.
nor could il De attended by that secrecy
which has often attended the requirement
OF stock control The publicity attending
the transaction would enlighten the mi
nority stockholders whose property it was
sought 70 acquire and the entire transac-
ton would necessarily be open and above
the property of other corporations. if
carried to d point which constituted Il
monopoly Of industry. would render the
federal corporations as subject to prosecu-
ton under the Sherman act as any cor
Poration operating under state charter.
\ prominent member of the administra-
ton, commenting on the popular misap-
0T tafy, oE Lra- Iar7fF
recommendations, declared to-day that it
was almost useless to prepare any state
rnent for newspaper publication with great
care, that discrimination in the use OF
language or careful choice Of terms was
lost on the average newspaper reader. He
insisted that the average newspaper reader
rather prided himself on his ability to skim
through a newspaper during the ten or
fifteen minutes he spent riding to his place
or business, and the consequence was that
he gained from even the most carefully
prepared article only a superficial knowl-
edge, and more often than not mere
assortment Of hasJy and erroneous impress
sions- Experience with newspaper dis
patches certainly supports that view to a
considerable extent A Washington dis
patch TO The Tribune printed last Novem-
Der, recited the fact that . majority of the
freslcenIS cabinet had had meeting at
which they had discussed certain develop
ments which they regarded as indicating
the existence of a concerted movement
10 disCredit the Taft administration and
they purposed to lay their conclusions be
fore the President on his return from the
West. The dispatch then recited the rea-
sOuing which led TO their conclusions
and was commented on editorially from
one END OF the country to the other
and in almost every instance The Tribune
uas quoted as asserting that such con
CeTted movement existed, whereas II had
merely Chronicled the views OF a majority
OF the Cabinet. The correspondence which
las reached the President and the Attorney
General to-day regarding the federal in
corporation proposition indicates an equal
caTelessness in reading even the Attorney
Generals abstract OF the administration
TnaaS sure