Bridgeton pioneer., 1910-02-10

Railways, Conservation and Postal
savins Bills to Take Precedence.
Wlckersham Busy Explaining Pro-
: posed Law
Washington, Feb. 8.-President Taft
Will not press for passage the federal
incorporation la wat this session of
congress.
If the bill should be passed, Presi-
dent Taft has stated his willingness
to stand as it's sponsor and to take the
responsibility for having recommend
ed it.
Further than this the president told
several callers that he would not make
the incorporation bill an administra-
uon measure. He declared he felt he
had no right to do SO, and that it did
not rank with the proposed amend
ments to the interstate commerce law,
the postal savings banks and the meas
ures designed for the conservation of
natural resources. These latter were
promised in the party platform, upon
which the president was elected, and
he feels that the party is responsible
for their passage at this session of
congress.
The president believes that there are
many things in the incorporation bill
which will commend themselves to the
legislators as they study the measure.
He will not attempt to influence sena
tors or representatives in it's favor,
however. The bill now goes to the ju-
dietary committee of congress for per-
usal and consideration.
Wall Street Jared.
Wall street interests, inclined at
first to look upon the idea of fed
eral charter 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 cor
porations from the operation of the
antitrust act. A great many corpor-
ations, it is said, were looking forward
to federal charter as an indication
that past sins were forgiven, provided
there were no more transgressions in
the future
Frank A. Vanderlip and George w.
Perkins, of New York, who saw the
president last week, told him that the
corporate interests were anything but
pleased with the character of the pro-
posed measure, and that few, If any,
corporations would take advantage of
the act.
The president, it is understood, re-
torted that the act was a voluntary
one, and that the corporations which
did not care to come under federal
control need not do so He thought in
time, however, that the simplicity of
doing business throughout the country,
once the provisions of the act were
complied with, would appeal to the
corporations and that they would
come to see the many advantages that
the act contains.
AS to exempting companies with
federal charters from the Operation of
the antitrust law, the president said
that was impossible. The constitution
ality of the proposed act is a serious
one, however, as it would deprive the
states of any Jurisdiction whatever
ONOA SOA pOl dIlOAo hOAuluS AOuCIdl CudA-
ters.
Wickersham Explains Bill.
Already Attorney General Wicker
sham is being piled with inquiries re-
garding various features of the bill
He has explained that the organiza-
tions whose operations are covered by
1t are amenable to national authorities
for the reason that they thus have but
one master as against forty-six they
might have did repeal of their char
ters or punishment for offenses COM
mitted rest with the states There are
a number of reasons advanced why
more satisfaction may be secured by
giving the federal courts jurisdiction.
Litigation there is usually more eco
nomical, more rapid progress is had
than in the local courts and a federal
Jury is less apt to be liable to bias and
prejudice.
One of the many objections to the
bill has arisen from the denial of the
right of state jurisdiction over the in
corporation, but the officials believe
that after the law has had working
chance it may be possible to modify
its provisions so as to make them
less Objectionable from the states
right point of view.