The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-02-08
TAFT WILL NOT PRESS
FEDERAL INCORPORATION

WASHINGTON, Feb THE federal
incorporation bill. introduced in congress
today. Is not to be pressed for passage
at this session
II the bill should pass. President Taft
has stated his willingness 10 stand as its
sponsor and to take the responsibility
Tor having recommended 1t.
Further than this. tho president told
several callers today that he would not
make the Incorporation bin an admins
Iration measure He declared he felt he
had no right to do so, and that II did
not rank with the proposed amendments
TO the interstate commerce law, the
postal savings banks and the measures
designed for the conservation of natural
resources. These latter were promised
In the platform upon which the president
was elected. and he feels that the party
is responsible for their passage at this
session OF congress
President Taft believes that there are
many things In the incorporation bill that
VIII commend themselves To the leSisla-
tors. He will not attempt to influence
senator's or representatives in It's favor.
however
The bill now goes to the Judiciary com
mittee OF congress for consideration.
Wall Street Awakened.
Wall street interests, inclined at first
to look upon the idea of federal char
ter with the utmost favor were rather
rudely awakened when IT was learned
that the president would insist that in
any bill passed on this subject there
should be included the provision that
nothing in the act should be construed
as eXempting corporations from the op-
GRAFTON of the antitrust act. a great
many corporations, IT Is said. were look
Ing forward to federal charter as an
indication that past sins were forgiven,
provided there were no more traussres-
slonS In the future
Frank d, Vanderlip and George w.
Perkins OF New York. who saw the presl-
dent last week, told him that the cor
porate interests were anything but
nlpnSpH
posed measure and that few, Ii any, COR
porations. would take advantage OF the
act.
The president. 1t Is understood, retort-
ed that the act was voluntary one and
that the corporations that did not care
10 come under federal control could not
be made TO do so.
He thought in time, however, once the
provisions OF the act were complied with,
would appeal TO corporations. and that
they would come to see the many advan-
tageS that the act contains.
Exemption Not Possible.
AS to exempting companies with fed
eral charters from the operation OF the
antitrust law. the president said that
was impossible The constitutionality of
the proposed act is a serious question.
however. as it would deprive the states
OF jurisdiction over corporations holding
federal charters,
Already Attorney General Wickersham
is being piled with inquiries regarding
VARIOUS Oh inc Dill. re mas eA-
planned that the organizations whose op-
erations are covered by IL are amenable
TO national authority for the reason that
they thus have but one master as against
forty-six they might have did the repeal
of their charters or punishment for Of
lenses rest with the states,
There are number OF reasons ad-
vanced why more satisfaction may be Sc
cured by giving the federal courts jurfs-
diction. Litigation In the federal courts
is more economical and moro rapid and
a federal jury is less liable to prejudice.
One OF the main objections to the bill
Is the denial of the right OF state juris-
dictlon over the corporations. but the
officials believe that after the law has
had a working chance il may be possible
to modify It's provisions to make them
ess Objectionable from the states rights
point OF view The proposed law does
not contemplate supervision OF railroads.
as they exercise the right OF eminent do
main
This is matter that Mr. Wickersham
says may be taken up later.