The Miller press. [volume] (Miller, S.D.) 190?-current, 1910-01-13

lease any rallrOaO, or any OlntE
ton which completes with II respecting
business to which the interstate com
merce act applies; that a law be enact
ed providing that no railroad corpora.
act shall hereafter for any purpose con-
nected with or relating to any part OF It's
business governed by said act, issue any
capital stock without previous or stimuli
taneous payment to 1t Of not less than
the par value of such stock, or any bonds
or other obligations Except notes matur-
date of their issue), without the previ-
Gus or simultaneous payment to such cor
poration 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
t~erstate m commissions; and that
no property, service, or other thing than
money, shall be taken in payment to such
required price of such stock, bond or 9TH
er obligation, except the fair value OF
such property, services or other thing as
certained by the commission"
Would Prevent Wrong Practices.
The president continues:
II believe these suggested notifications
in and amendments to the interstate COM
merce act would make 1t a complete and
effective measure for securing reasonable
ness of rates and fairness of practices in
the operation of interstate railroad lines,
without undue preference to any individu-
al or class over any others,
by my direction the attorney general
has drafted a bill to carry out these
recommendations, which will be fur
nished upon request to the appropriate
committee whenever it may be desired.
I'm addition to the foregoing amend
ments of the interstate commerce. law,
the interstate commission
should be given the power, after a hear
ing, to determine upon the uniform con-
struction of these appliances-such as sill
steps. ladders, roof hand holds, running
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. 10 produce accidents and
injuries to railway trainmen, The Won
derful reforms effected In the number OF
switchmen 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 II railroads
are compelled to adopt proper safety APP
pliances.
tons of the interstate 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 as easy Of en-
forcement as the right OF a private per-
son not in the company's employ to sue
on an ordinary claim, and process In each
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 con-
and have been passed, and are now be
fore the interstate m
of the senate. l earnestly urge that they
be enacted into law"
Control Of the Trusts.
The second part of the message is de-
nightly discussion of trusts, good and
bad, and the success of prosecutions un-
der the Sherman antitrust act, Mr.. Taft
says:
utive to direct an Investigation by the de-
partment of justice, through the grand
jury or 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 a purpose,
and are conducting business on a plan
which is in violation of the antitrust
law. The work. is a heavy one, but it
ment of justice, If sufficient funds are
furnished, to carry on the Investigations
and to pay the counsel engaged in the
work. But such an investigation ana
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 it's places of boarding, and
produce a halt in our 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 inan-
cial disturbance, OF changing the char
acter, 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.
For Government Control.
Generally, in the industrial combina-
ness is the sale of goods in many states
and In foreign markets.; In other words,
the interstate and foreign business far
state. This fact will justify the fed
eral government in granting a federal
charter to such a combination to make
merce the products of useful manufac-
ture under such limitations as will Sc
cure a compliance with the antitrust
law. It is possible so to frame a statute
that while ii offers protection to a fed
eral company against harmful, vexatious
and unnecessary. invasion by the states,
II shall subject II to reasonable taxation
and control by the states. with respect to
it's purely local business.
MANY people conducting great bust
nesses have cherished a hope and a be-
lief that in some way or other a line
may be drawn between good trusts and
bad trusts and that II is possible by
amendment to the antitrust law to make
a distinction under which good combina-
tons may be permitted to organize, sup
| press competition, control prices, and do
II all legally II 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
ing. and by 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 they, on
the other hand. be permitted under the
law TO carry on their business. Now,
the public, and especially the business
| public, ought to rid themselves of the
idea hat such a distinction is practic-