davidaulloa/AmericanStories huggingface dataset:
Los Angeles herald., 1910-01-08
CENTRALIZED POWER

Nor is the Capitalization of federal
power under the act likely to be ex-
cessive. Only the largest corporations
would avail themselves of such a law,
because the burden of complete federal
supervision and control that must GER
tainly be imposed to accomplish the
purpose of the Incorporation would not
be accepted by an ordinary business
concern.
The third objection that the worst
offenders will not accept federal su-
perVision, is easily answered. The de-
crees of injunction recently adopted
in prosecutions under the antitrust
law are so thorough and sweeping
that the corporations affected by them
have but three alternatives before
them:
First-They must resolve themselves
into their component parts in the diff
ferent states, with a consequent loss to
themselves of capital and effective or
ganization, and to the country of con-
centrated energy and enterprise; or,
Second-In defiance of law and under
some secret, trust, they must attempt
to continue their business in violation
of the federal statute and thus incur
the penalties Of contempt and bring
Los Angeles herald., 1910-01-08
EXECUTIVE DUTY

1t is the duty and purpose of the
executive to direct investigation by the
department of justice, through the
grand jury or otherwise, into the hlsto-
ry, organization and purposes of all the
industrial companies with respect to
which there is any reasonable ground
for suspicion that they have been or
ganized for a purpose and are conduct
ing business on plan which is In Vio-
lation of the antitrust law.
The work is a heavy one, but it is
not beyond the power of the depart
ment of Justice if sufficient funds are
furnished to carry on the Investigations
and pay the counsel engaged in the
work. But such an investigation and
possible prosecution of corporations,
whose prosperity or destruction affects
the comforts not only of stockholders,
but of millions of wage earners, en-
ployes and associated tradesmen, must
necessarily tend to disturb the conf
dence of the business community, to
dry up the now flowing sources of cap
ital from it's places of boarding, and
produce halt in our present prosper
ity that will cause suffering and
strained circumstances among the in
nocent many for the faults of the guilty
few.
The question which I wish in this
message to bring clearly to the consid-
Grafton and discussion of congress is
whether, in order to avoid such pos
sible business danger, something can
not 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 fed
eral control and supervision, securing
compliance with the antitrust statute.
Los Angeles herald., 1910-01-08
DESIRED LAW

I therefore recommend the enactment
by congress of a general law providing
for the formation of corporations 10
engage in trade and commerce among
the states and with foreign nations.
Such law should provide for the issue
of 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 fair valuation,
ascertained under approval and super
vision of federal authority, after ful'
and complete disclosure of all the facts
pertaining to the value of such prop
erty and the interest therein of the
persons to whom it is proposed to issue
stock and it, should require such cor
porations to file full and complete re-
ports OF their operations with the de-
partment of commerce and labor at
regular intervals.
Corporations organized under this act
should be prohibited from acquiring
and holding stock in other corpora
tions Except for special reasons upon
approval by ohe proper federal author
ites), thus avoiding the creation, under
national auspices, of the holding COM
pany, which has been such an effective
agency in the creation of the great
trusts and monopolies.
If the prohibition of the antitrust
act against combinations in restraint of
trade is to be effectively enforced 1t IS
essential that the national government
shall provide for the creation of ma
tional corporations to carry on lagiti',
mate business throughout the United
States. The conflicting laws of the
different states of the Union, with re-
spect to foreign corporations, make it
difficult, if not impossible, for one cor
poration to comply with their require
ments so as to carry on a business in
a number of different states.
Los Angeles herald., 1910-01-08
COURT BURDENS

I venture to think that this is to put
into the hands of the court a power
impossible to exercise on any con-
sstent principle which will insure uni
formity of decision essential to just
Judgment 1t is to thrust on the
courts burden that they have no
precedents to enable them to carry
and to give them a power approach
ing the arbitrary, the use of which
might involve our whole judicial sys-
tenn in disaster.
In considering violations of the
antitrust law we ought, of course,
not forget the law makes unlawful
methods of carrying on business,
which, before it's passage, were re-
garded as evidence of business sagacl-
ty and success, and that they We're de-
nounced in this act, not because of
their intrinsic morality, but because
of the dangerous results toward which
they tended, the concenU .tion of in
dustrial power in the J ends of the
few, leading to oppresS a and injus-
tice In dealing, theref e, with many
of the men who have y ID the methods
condemned by the stat te, for the pur-
pose of maintaining profitable busi-
ness, we may well facilitate a change
by them in the method of doing bust
ness and enable them to bring it back
into the zone of lawfulness, without
losing to the country the economy of
management by which, in our domestic
trade, the cost of production has been
materially lessened, and, in compete
ton with foreign manufacturers. our
foreign trade has been greatly in
creased.
Through all our consideration of this
grave question, however, we must in
sist that the suppression of competition,
the controlling of prices and the
monopoly, or attempt to monopolize in
terstate commerce and business are not
only unlawful but contrary to the pub
lie good and that they must be re-
strained and punished until ended.
Los Angeles herald., 1910-01-08
CONSTITUTIONALITY

Second, there are those who doubt
the constitutiondlity of such federal
Incorporation. The regulation Of inter-
state and foreign commerce is certain
ly conferred in the fullest measure up
on congress aud if congress shall in
sist that it may provide and authorize
certain agencies to carry on the COM
merce, it would seem to be within its
power The power of incorporation
has been exercised by congress and up
held by the supreme court in this re-
gard.
Why, then, with respect to any form
of interstate commerce. like the sale
of goods across state boundaries and
into foreign commerce, may the same
power not be asserted? Indeed, it is the
very fact that they carry on inter-
state commerce that makes these great
industrial concerns subject to federal
prosecution and control.
How far, as incidental to the carry
ing on of that commerce, it may be
within the power of the federal gov
ernment to authorize the manufactur-
er of goods, is perhaps open to dis
cussion. though a recent decision of
the supreme court would seem to an
swer that question in the affirmative,
Even those who are willing to con-
seeded that the supreme court may sus-
tain such federal incorporation are in
clined to oppose it on the ground of
it's tendency to the enlargement of
the federal power at the expense of
the power of the states.
1t is sufficient answer to this argu-
ment to say that no other method can
be suggested which offers federal pro-
lection on the one hand and close fed
eral supervision on the other of these
great organizations that are, in fact,
federal, because they are as wide as
the country and are entirely unlimited
in their business by state lines.
Los Angeles herald., 1910-01-08
RICH GOLD DISCOVERY
REPORTED AT NACORl

From the Rio Chico, near Nacori, in
the northern part of the Alamos dis
trict of Sonora, there comes informa-
tion of rich gold strike that has been
made recently in that vicinity.
Nacori is about days ride from La
Dura, on the Yaqui river. The reports
sent out are that quartz Lodges have
been discovered, 100 rect or more in
width, and that selected samples of the
rock assay from one to four ounces in
gold a ton, and sixty to 600 ounces in
silver.
1t is said the late Pete Keno of Ell
Paso, while packer in the army under
General Crook at the time he was pur-
suing Geronimo and his Apaches and
Apache scouts, brought to Crook many
samples of quartz filed with coarse
gold which they found near Nacori
which is near the scene of the new
strike, and Keho, who had mined in the
early days of Colorado and California,
predicted that around Nacori would
some day be found the richest gold
mines of Sonora.
Los Angeles herald., 1910-01-08
GRIPS DISTRICT
FIND IS GALENA

ELY, New, Jan. News of an i'm
portant strike in the Cripps mining dis
trict, across the line in Nye county,
has been brought here by Martin Hor-
ton, a we'll known merchant of Blue
Eagle. The strike, which uncovered a
ledge running high in galena, with
god values in gold and silver, was
made by a man named DIGGER, while
prospecting near Willow creek about
four miles over the dividing line be-
tween White Pine and Nye counties.
The extent of the ledge, according
10 Mr.. Horton, had not been deter
Anined at the time he left for his sew
Apty-five mile journey to Ely, but ac-
riding to his report it promises to
ult in mine that will eventually
I've one of the best paying proper
~ along the line of the new railroad
Goldfield.
the five days following his dis
ry DIGGER hoisted twenty-one
let's of ore from the shaft, each
+ Eet averaging about 200 pounds.
ore, which was the first taken
ran high in lead, with forty
ces of silver and S. in gold to the
eyer, says Mr.. Horton, is man
lneans, being worth in the neigh
of 100000, and is well able to
op the property.
Los Angeles herald., 1910-01-08
METAL MARKET

NEW YORK, Jan, THE market for
standard copper on the New York Metal
exchange was easy today with spot and all
deliveries up to the end of April closing at
$1325@13.50. The English market was easy
and a shade lower with spot closed at f61
2s Cd and futures at f62 Is. Local dealers
quote lake copper at s13.75414; electricity
tic, -S13.5O@13.75; casting, $13.25 1880
Imports of copper at Atlantic ports for the
week by steamers amounted to 1l05 tons;
exports for the same period were 5045 tons
Tin was easy with spot closing at S32.75Q
SO; Jan $32.70@32.90; Feb. March and
April, SS2,75@33. The London market had
quite a sharp break, closing with spot at
was quiet with spot quoted at $4671s %
4.72h New York and S465 asked East st.
Louis. The London market was higher
with spot quoted at f13 1Ss 3D. Spelter
closed dull with spot quoted at $6.10l6 6.25
New York and s6Q6.o71s East st. Louis
The London market advanced TO t23 Is sd.
Iron was higher in London with Cleveland
warrants closing at sis I'd. The local mar
ket was unchanged.
Los Angeles herald., 1910-01-08
OIL EXCURSION
TO MATERIALIZE
NORTHERN MEN WILL INVADE
SAN JOAQUIN FIELDS
BOOM ATTRACTS INVESTORS
FROM EVERY WHERE
New Wells Come In Daily Values
in Realty Rapidly Advance-oil
Flows over from Regal Hole
on Section Fourteen

Plans are now beginning to take
shape to run an excursion of oil and
business men from San Francisco to
Coalinga. The excursion will be in
motive and kind similar to that run
from Los Angeles last fall. The San
Francisco people are figuring on a
crowd of between .150 and 200 promi-
nent men for the excursion.
The wide activity in the San joaquin
fields has become far-reaching and in
point of oil interest has attracted all
eyes in California and the western
country.
Investors are seeking the fields for
almost every line, fact borne out i'll
the business section of Coalinga few
days ago, when a parcel of land on
Front street sold for 5000 a front foot.
The North Midway field is eX-
periencing a boom comparable only to
such wild excitements as followed the
opening of the mines in southern Ne
vada, especially at Goldfeld. Every
day one or more wells are brought in
at North Midway, and those who have
not yet struck it are expecting to any
minute. Excitement has become in
tense and nobody has time or in
clination to knock
Regal Well Comes In
The Regal Oil company, controlled
by the Union Oil company, in section
IA, Midway, is reported to have
brought in a we'll at 251S feet yester-
day. The we'll is in the northwest
quarter of the section and at last re-
port was flowing over the top with
23 gravity oil.
The tools were blown out when the
well came in, and no examination has
yet been made, but it is said a large
flow of oil is assured.
California Midway well No. 1 has
reached a depth of 1850 feet, in brown
shale formation. This company is now
down 100 feet in it's well No. 2 and
has just started it's well No. 8. Work
is being pushed rapidly and indications
are for big results. it is said.
Los Angeles herald., 1910-01-08
CLAIMS
NEAR COALlNGA
OIL MEN STAKE ABOUT $4,000
ACRES
GROUND LIES OUTSIDE OF PLAT
WITHDRAWN
American Petroleum Company DeliV=
ers Lumber for Derricks-Southern
Pacific lnstaIIs Boiler Plant and
Drills Eight New Wells

The usual secrecy prevailed aronud
town on the last night of the year and
about dark teams were going in diff
ferent directions carrying people out
to locate, or relocate claims, accord
ing to r. K. Eastman of Coalinga.
Most of the locating was done outside
Of the territory set aside by the gov
ernment. In all about $4,000 acres were
located.
The American Petroleum company
30, 20-15, has the lumber on the ground
for it's we'll No. 8, north 30. Its der
ricks are completed for it's wells 10
and II on the same property.
The X. T. and o. Oil company has
erected a boiler plant on the south
west corner of Z, 20-15, and is erecting
two derricks to be operated from this
plant. On 10, 20-14, it has three wells
drilling and two rigs up. 1t has five
wells drilling on 10, 20-15, and one
derrick completed. On the east side
this company has several wells near
ing completion.
It is reported that H. G. Bender has
resigned from the K. 7. and Q. Oil
company.
The Acorn Oil company, 2, 20-14, has
passed through it's water and is now in
blue shale, with promising signs for a
we'll at an early date.
The Zier Oil company, 1, 20-14, Is
completing we'll No. 13 and has erected
it's derrick for it's well No. IA.
The Stockholders Oil company, %,
1916, is down 1150 feet in its siX-inch
casing.
Clements off Water
The Coalinga Unity Oil company 12,
20-14, has the water cemented off IN
it's well No at depth of 700 feet In
ten-inch casing. It's derrick is COM
pleted for its well No. 8, which will be
spudded in as soon as No. is COM
pleted Mr.. Shreeves has the contract
on these wells and is making his usual
record breaking time on them.
The New San Francisco Crude Oil
company has completed its we'll No.
at a depth of 1450 feet in eight-tnch
casing. 1t will be put on the beam in
a few days and has the earmarks of a
good well.
The Claremont Oil company has
erected an assessment derrick on the
northwest corner of 4, 20-15.
The Boychester Oil Company. 1S
Ellis, is down 900 feet in its we'll No. l.
The Best Yet Oil company, Is, 21-15,
is rigging up for its we'll No. l and will
spud in as soon as its pump reaches
here from Los Angeles. r. M. Cook
is experimenting the work on this
property.
The Gold Tip Oil company, 2, 20-14,
has resumed work on it's well No. 1,
which has been shut down for the lats
few days on account of a scarcity of
drilling water. 1t is down 300 feet in
121h-inch casing.
The Sierra NIadre Oil company, 2,
2O-14, has the lumber on the ground
for its bunkhouse and other buildings.
Los Angeles herald., 1910-01-08
VIEW MILL BEGINS
ON ITS WINTER RUN

JND MOUNTAIN, New, Jan. 7.
Fairview mill is running again.
ent Reece Wampler came out
Tonopah in his auto Saturday
ster a conference with Secretary
rs Gordon it was decided to re-
Roperations at once at both the
Sw>A and the mill. The mill was
FSarted Monday morning and has been
sfunning steadily ever since. The mine
will be reopened within a few days.
Shoshone creek is at itself again, and
enough water is coming down that
course now to run all the mills in camp.
The Fairview is in the peculiarly for
tunate position of not having to pipe
water to it's mill. The mill is located
on the banks of Shoshone creek and
was the first to make use of the water
of that stream. About twenty tons of
ore treated every twenty-four hours.
The custom mill, owned by George
B. Jacques and associates and located
down the stream from the Fairview
mill, is to begin work in a few days.
Los Angeles herald., 1910-01-08
GOOD AND BAD

Many people conducting great busi-
nesses have cherished q hope and
belief that in some way or other
line may be drawn between good
trusts" and "bad trusts" and that it
is possible by amendment to the anti
trust law to make q distinction under
which good combinations may be per-
mitted to organize, suppress compe-
tition, control prices and do it all
legally if 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
cheating, 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
~ 4. i /
member Stock and Bond exchange OF San
Francisco and eastern exchanges.
Los Angeles herald., 1910-01-08

business public, ought to rid them
selves of the idea that such distinc-
tion is practicable or can be intro
duced into the statute. Certainly un-
der the present antitrust law no dis
tinction exists. 1t has been proposed,
however. that the word reasonable"
should be made part of the statute,
and then it should be left to the court
to saw what is a reasonable restraint
of trade, what is a reasonable sup
preston OF competition, what is d red-
sonable monopoly.
Los Angeles herald., 1910-01-08
NeVS of the Mines and Oil Fields
L0RDSBURG SHELTER
BLOWS IN; MINES ARE
GIVEN NEW MARKET

The Park Hills Mines company, Homer
LaughIin building, Los Angeles. is in
receipt of n communication in effect that
the smelter at Lordsburg, n. NJ, has
blown in for permanent operations, thus
affording n market for ores mined at
and near this point.
The Park Hills Mines company will
ship to this plant instead of to Eel PasO,
as its high grade silver and gold ores
are just what are required to make a
nigh grade bullion.
with the blowing in of the new smell
ter freight charges will be greatly re-
duced and mines not able TO operate
when the nearest market was El PasO
cah now do so at handsome profit.
Los Angeles herald., 1910-01-08
You Can Make Money in Oil Stocks

L you buy intelligently at the present time
there are ninety-nine chances in a hundred
OF your making good money in a purchase
Of California oil stock. There are many good
buys but just at the present time believe
that point out to you absolutely the
best opportunity to make a modest investment
bringing you big returns that has ever been
offered in the California oil fields.
This stock is the initial ground floor offer
ing in company operating in absolutely
proven territory in Coalinga. This property
is owned outright. Small capitalization, no
promotion stock shallow easy drilling, but
wells run from 150 to 400 barrels. owing to
extremely prolific nature of underlying sands.
Choicest piece of undeveloped shallow prop-
erty in entire state OF California.
Call at our office. 614 Herman w. Hellman
Bldg, we will give you all the particulars
Of this, showing you maps and, II you desire,
arrange for free trip for you to Coalinga to
see the property. II you cannot call fll out
and mall the coupon printed below without
delay.
NoTE-To every one sending in this coupon
VIC will send free Of charge for the next six
months copy of the monthly publication
Securities" which is Allied with photos OF
the oil fields and valuable information aboue
California oil.
Los Angeles herald., 1910-01-08
SUPERIOR AND GLOBE
REACHES WATER LEVEL

GLOBE, Jan. 7.-Superior & Globe
has reached permanent water level at
a depth of $50 feet in its shaft, and
crosscutting of the formation in both
directions has begun there. Four we'll
defined veins outcrop on this property.
including the Yuma vein, upon which
the Big Johnnie shaft of the Old
Dominion is opened. If conditions re-
main normal the Yuma vein should be
cut within $50 feet, while at least one
of the other veins, lying on the OPP
posite side of the shaft, should be ex-
nosed before that.
Los Angeles herald., 1910-01-08
GOLD STRIKE SAID TO
BE RICHEST AT MIDAS

MIDAS, New, Jan. 7.-William Bow
ser has just made a strike of the rich
est ore ever found in the camp. 1t is
fully one-third gold, according to Judge
J. Matthews, and is undoubtedly the
finest ever seen here. The shaft is
but a few feet deep and the ore is
,ound in tale. Therefore, as yet, Mr..
Bowser cannot define the strike.
Los Angeles herald., 1910-01-08
OIL REDUCED is CENTS

NEW YORK, Jan. THE Standard
Oil company today announced a reduc-
ton of 10 cents barrel in the prices
of refined oil, making refined in cases
5000, refined in tanks $4.40, and stand
ard white $3.50.
Los Angeles herald., 1910-01-08
MILL REaIN NEXT WEEK

The search for oil on the T. A. Wells
land by o. C. Heck and associates will
BEGIN next week, according to plans
now formed, says a Coalinga in
formant.
Los Angeles herald., 1910-01-08

on an inevitable criminal prosecution
of the individuals named in the decree
and other associates; or,
Third-They must reorganize and ac-
cept in good faith the federal charter
suggest.
A federal compulsory license law,
urged as a substitute for federal
incorporation law, is unnecessary ex-
cept to reach that kind of corporation,
which, by virtue of the consideration
already advanced will take advantage
voluntarily of any corporation law;
while the other state corporations do
ing an interstate business do not need
the supervision or the regulation of a
federal license, and would only be un-
necessarily burdened thereby.
The attorney general, at my sugges-
ton, has drafted a federal corporation
bill embodying the views 1 have at
tempted to set FORTH and it will be at
the disposition of the appropriate
committee of congress.
WILLIAM H. TAFT.
The White House, Jan. Z, 1910.
-eS@
It's as easy to secure bargain in usei
Los Angeles herald., 1910-01-08

SAN FRANCISCO, Jan. 7.--Consolidated was
the best trader in the mining market today
and sold off 20 points to $7,65 bid Florence
was in good demand with $2.70 bid. Fraction,
Daisy and Jumbo Extension did not move from
yesterdays quotations.
The mill report Of the Tonopah Mining COM
pany for the past week showed a total of
1890 tons of ore were crushed of an average
value of S22. 90 per ton. The bullion shipment
consisted of rs bars of bullion valued at s60 800,
and 36 tons of concentrates valued at $l5,300.
The mines OF the Cripple Creek district,
Teller county, Colorado, produced 734500 tons
of ore during the year 1909 with a gross bull
lion value of $15, 1885, 113. Seventeen of it's min
of record amounting to $11Oi,62O. The divi-
dends of close corporations not making their
distribution known would probably add not
less than $1,000 900 to the dividend account
Following were the closing quotations:
cor To1rr1rT n TOTcTDTC,r
Los Angeles herald., 1910-01-08
ABUSE OVERCOME

TO tho suggestion that this proposal
of federal incorporation for industrial
corporations is intended to furnish
them refuge in which to continue in
Los Angeles herald., 1910-01-08
METAL PRICES IN
NEW YORK MARKET

% NEW YORK. Jan. 7.--Copper. easy; 9
z, standard spot TO March, $I3.25 q 1880. g
a, Lead, gi.075R @4.7211. Silver, 52 Lac. q