Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1910-02-24
CONFERENCE POSTPONED.
HOW THEY DIFFER.

course of his New York speech. To
say that he beloved the proposed led
cral incorporation act to be const.u-
tional He also added;
~And I believe that II enforced II
would furnish a solution OF our present
difficulties, but as it was not specm-
cany declared for in the kepuolc9h
platform / do not feel justified In ask
i'm, the adoption OF such an act as Il
party matter"
Ornaments of the federal incorpora-
ton law urge that if the only alter
native to Federal Incorporation were
to leave corporate wrongs unredressed
and corporate power uncurbed, IL
would not be an academic question:
but one OF urgent and insistent prom
inence. That this Is not the case they
think they can prove by citing such
authorities as Gov, Harmon of Ohio.
who maintained over year ago in
the course of his inaugural address
that the state government has alb
solute control of all corporations Of
Its own creation and of the terms on
which corporations OF other States
may do business here.
Gov. Harmon said, specifically;
why, then, stand by and let the
General Government assume to reGu
late State corporations because they
engage in interstate commerce?
We should carefully supervise the Gre
alton and extension of corporate rights
so that the namo of the State shall
"a H..
which do not represent good faith and
full value. Other States would
quickly find themselves compelled to
do the same"
The bill proposed provides for the
granting of charters to Federal cor
porations whose franchises and privi-
lcges will be exempt from other than
Federal taxation. whose affairs shall
be conducted under the supervision of
the Commissioner OF Corporations, who
VIII enjoy practically the same power
over them. including that OF appointing
a receiver for any found insolvent as
is now exercised by the Controller of
the Currency over national banks Tho
Attorney General has. in fact, drawn
largely on the National Bank Act in
preparing the new law The provi-
sions of the law are calculated efTec-
lively to protect the rights of investors
and would go far toward insuring the
stability of the securities of tho pro-
posed corporations.
The New York Globe finds that there
iS Of
must somewhere be lodged and If 1t is
not lodged In Washington 1t will be
lodged nowhere and thinks the risk OF
an occasional measure OF power by a
Washington bureaucrat would be bet
ter than continuance Of the uncer-
tainty under which now business Is
done and the raiding and clustering
legislation of forty-hve Jurisdictions
Other peoples, through their national
governments. are able to exercise ma
tional control with a fair degree Of
equity and wisdom, and our National
Government in the end should be able
TO do as we'll"
The Now York evening Mail declares
that this bill offers the only dlscerni-
bic remedy worthy of consideration for
situation that will shortly need a
remedy.
Ihe reply OF the opponents of the
measure is that the State of New Yorl,
mas carefully supervised" It's own
chartered insurance companies and its
great banks and trust companies: that
Missouri and Texas have yindlcated
their absolute control" OF the forms
on which corporations of other stotoU
may do business within their borders
Other states arc doing their part: and
that the marked renewal of active
interest in the duties of states OF
which Gov. Harmon spoke last wear is
still significant. They argue that since
constitutional regulation of CORPORA
1ons by the states stsll wins ts
VICTORIES without waiting for new ap.
sraheizements of federal power. since
no platform has declared for federal in
corporation; and since many RepubII-
cans and most Independents oppose u
II would be unwise to concentrate thi,
power In the hands OF the central gov.
ernment
The Philadelphia Record believes thai
SO great stride toward central;za.
tion Of federal power and the humllia
ticn and degradation of the states a,
this national Incorporation bin has no
been conceived within this generation
o. -Tecn. and believes il far better tha
TIE states should sometimes badly con
trcl the corporations they have ere
atcd than that this control should h.
wrested from them. Deprived of thi
essential attribute OF government. the,
would become the mere outlying prov
inces OF an overshadowing central pow
er like that of Russia Apart from thi
vital consideration. a measure calcu
lated to promote the interests of III
Beef Trust, the Harvester Trust Tn
Tobacco Trust, and other like mono
poles at public expenses is sailing unde
false colors when taking the name q
an antitrust bil.''
It is admitted by the opponents G
tho measure that 1t clearly forbds
corporation created under its provision
to acquire or to hold the stock of an
other corporation. but it specifically ar