Warren sheaf. [volume] (Warren, Marshall County, Minn.) 1880-current, 1910-01-06
TAI 70 At TACK
ne: WICKED TRUSTS
pIsPATcH TO CHICAGO PAPER
Owes Full DETAILS or PRES.
dents MESSAGE.
DECLARES LAW IS VIOLATED
Sherman Law Strong Enough TO Rout
Evil ederai Incorporation Recon-
nended 40 Refuge for Honest
Business Organizations.

presidents views, summarized, are:
No amendment to the Sherman anti
trust law Is necessary.
4 Many large corporations are violat,
ing the Sherman law
It is the duty of the executive to en-
force the law, but if this be done, az
Is his intention, panic or commercial
chaos may be precipitated.
AS refuge for the large combina.
tons he recommends a national incor
poration law. RI
What Laws Should Provide.
He says the law should provide:
Voluntary incorporation. 8 8
Supervision by the bureau of corpo.
ratlons of such combinations as Sc
cure national incorporation.
Control by the bureau of corpora.
tons Of all issues of stocks and bonds
which shall be paid for in cash, prop
orty or services.
Prohibition Of corporation to own
stock in q competing corporation.
Annual reports covering the finan
ciai condition, the business organiza
TONS and corporate transactions OF
the corporation.
The safeguarding of business se
crets. while at the same time proyid.
Ing for the publication of al facts so
far as they maybe. in the public in.
ferest.
Defends Proposed Law.
The president will declare that, In
his opinion:
The law ia constitutional.
4 will not lead to any greater cen.
tralisation Of power. # M
Il will enable the large corporate
combinations Of capital to operate
aaWfully for their own economic Id.
vantage and to have public stand.
ING. ..sl 81
Il will enable people to share in
economy OF Administrations the cheap.
asss of products.
Il will insure efficient regulation in
the interest Of the public.
II will eradicate the trust evils.
Il will prevent q monopoly.
It will produce fair competition.
Discuss Sherman Act.
The message begins with discus.
sionOf the Sherman antitrust law. It
reviews the decisions rendered by the
supreme court Of the United States
in connection with the construction 81
this law.
Il specifically mentions the case OF
tho United States vs. the r. c. knight
company. The president says that ow:
Ing % the marrow scope OF the plead.
iags OF counsel ii this case, the court
MAS unable to take into consideration
tie questions which It ought to have
been able to consider. and that the
court consequently was compelled to
hold that the sugar trust did not come
within the limits Of the law.
This case, however, did not cover
eOmbinations for purely manufacturing
purposes. Later decisions have con.
structed the law to cover effectively
almost every phase of industrial OPP;
STATIONS. s
Il these decisions are to be upheld
BY the decisions to be handed down1a
ast (the president does not refer speci
Acally to the Standard Oil and tobacco
TRUST prosecutions, but he unqnestion
ably has them in mind, it will be the
Auty Of the executive to proceed
against many corporations which are
violating the statute.
The president says that while under
;Ahe common law, only contracts ne
tween combinations wouli be inhibite.
u in restraint Of trade which are TN
reasonable, practically the Same result
Inns heen attained by tks decisions Of
the court, which has hali that Incl
dental and indirect restraint Is not In
Aibited.
He belives this to be proper, The
law, as It exists. is efficient to put on,
Of business . vast number OF corpora
lions as they are now organized. I'm
der the circumstances he does not con
slider any amendment to the law really
necessary.