Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1910-01-13
Would Prevent Evil Practices.

efectIVe measure for securing reasonable
ness of rates and fairness of practices in
the operation Of interstate railroad lines,
without undue preference to any indi-
NIdual or class over any others, and would
prevent the recurrence of many of the
practices which have given rise in the
past to so much public inconvenience and
loss
In addition to the foregoing amend
ments OF the interstate commerce law,
the interstate Commerce Commission
should be given the power, after a hear
ing, 10 determine upon the uniform con-
struction of these appliances-such as
sill steps, ladders, roof hand holds. run
ming boards and hand brakes on freight
cars engaged in interstate commerce
used by the trainmen in the operation Of
trains, the defects and lack of uniformity
in which are apt to produce accidents
and injuries to railway trainmen.
The question, has arisen in the opera
ton of the interstate commerce employ
erS liability act to whether suit can
be brought against the employer company
IN any place other than that of its home
office. The right to bring the suit under
this act should be as easy of enforcement
as the right. of a private person not in
the company'S employ to sue on an ordi-
nary claim, and process in such suit
should be sufficiently served if 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 considered by the
House of Representatives and have been
passed, and are now before the interstate
commerce committee of the Senate. [
earnestly urge that they be enacted into
law.
Antitrust Law.
The increase in the capital of a bust
ness for the purpose of reducing the cost
of production and effecting economy in
the mana cement has become as essential
in modern progress as the change from
the hand tool to the machine.
Monopoly destroys competition entirely
and the restraint of the full and free
operation of competition has a tendency
to restrain commerce and trade.
The object of the antitrust law was
to suppress the abuses of business of
the kind described. 1t was not to inter
fere with a great volume of capital
which, concentrated under one organiza-
ton, reduced the cost Of production and
made its profit thereby, and took no ad-
vantage of its size, by methods akin to
duress, to Stifie competition with it.
I conceive that nothing could happen
more destructive to the prosperity of this
country than the loss of that great econ
ony in production which has been and
will be effected in all manufacturing lines
by the employment of large capital under
one nagement. do not mean to say
that there is not limit beyond which
the economy of management by the en-
largement of plant ceases, and where
this happens and combination continues
beyond this point, the very. fact shows
intent to monOpOllZe and not to ecOnO-
miZe.
Feared Universal Trust.
There are enough however, of such
successful combinations to arouse the
fears of good, patriotic men as to the
result of a continuance of this move
ment toward the concentration in the
hands of a few of the absolute control
of the prices of all manufactured prod
uctS.
The question which I wish in this mes
sage to bring clearly to the considera-
ton and decision of the Congress Wheth-
err to avoid business danger something
cannot be done by which these business
combinations may be offered a means,
without great financial disturbance, of
changing the character, organization and
extent of their business into one within
the lines of the law under federal control
and supervision, securing compliance with
the antitrust statutes.
Many people conducting great business
eS have cherished a hope and a belief
that in some way or other line may be
drawn between good trusts" and bad
trusts Certainly under the present
antitrust law such distinction exists.
Through all our consideration of this
grave question, however, we must insist
that the suppression of competition, the
controlling of prices, and the monopoly
or attempt to monopolize in interstate
commerce and business are not only I'M
lawful, but contrary to the public good,
and that they must be restrained and
Asks National Corporation Law.
I therefore recommend the enactment
by Congress of a general law providing
fSr the formation of corporations to en-
gage in trade and commerce among the
States and with foreign nations, protect
ing them from undue interference by the
States and regulating their activities so
as to prevent the recurrence under ma
tional auspices, of those abuses which
have arisen under State control. Such
chp q
stock of such corporations to an amount
equal only to the cash paid in on the
stock and if the stock be issued for
property then at a fair valuation ascer-
tanned under approval and supervision of
federal authority after a full and COM
pIete disclosure of ell the facts pertain
ins, to the value of such property and
the interest thereby of the persons to
whom it is proposed to issue stock in
payment of such property 1t should
subject the real and personal property
only of such corporations to the same
taxation as imposed by the States with
in which it may be situated upon other
similar property located therein, and 1t
should REQUIRE such corporations to file
fnll and complete reports of their oper-
ations with the Department of Commerce
and Labor at regular intervals.
Corporations organized under this act
should be prohibited from acquiring and
holding stock in other corporations Eek
ceDt for special reasons upon approval by
the proper federal authorities thus avoid
inc, the creation, under national auspices,
of the holding company, with subordi-
nate corporations in different States,
which has been such an effective agency
in the creation of the great trusts and
monopoliies.
sure of Opposition.
Such a national incorporation law will
he opposed. first by those who believe
that trusts should be completely broken
no and their property destroyed. 1t will
he opposed. second, by those who doubt
tha constitutionality of such federal in
corporation and even if it is valid object
to it as too great federal Capitalization
1t will be opposed, ird, by those VINO
viii insist that mere voluntary incorpor
First Step in Copper Merger.
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