Shiner gazette. [volume] (Shiner, Tex.) 1893-current, 1910-01-13

I'm considering violations of the anti
trust law we ought, of course, not 70
methods of carrying on business which
before its passage were regarded as EVIL
dence OF business sagaoity ana success,
and that they were denounced in this Rct
not because of their intrinsic immoral
ity, but because of the dangerous re-
suits toward which they tended, the con-
hands of the few, leading TO oppres-
sion and injustice. In dealing, therefore,
with many of the men who have used
the methods condemned by the statue
for the purpose of maintaining a proht-
able business. we may well facilitate
change by them in the method OF do
ing business, and enable them to bring II
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 competition
with foreign manufacturers our foreign
trade has been greatly increased.
Asks National Corporation Law.
II therefore recommend the enactment
by congress of a general law providing
for the formation of corporations to en-
gage in trade and commerce among the
states and with foreign nations protect
ing them from undue interference by the
as to, prevent the recurrence, under ma
tional auspices, OF those abuses which
have arisen under state control. Such
law should provide for the issue of stock
of such corporationas to an arNnunt equal
only to the cash paid in on the stack;
and IL the stock be issued for property
then at a fair valuation ascertained un,
der approval and supervision of federal
authority after full and complete DIS
closure of all the facts pertaining to the
value of such property and the interest
therein of the persons to whom 1t is
proposed to Issue stock In payment OF
such property. 1t should subject the re- or.
and personal property only of % IT,,
porations to the same ...ttI7 which it NAV
posed by the stateStiier similar property
be situated III and it should require
Iocaste9urporations to file full and COM
Plete reports of their operations with the
department of commerce and labor at
regular intervals, Corporations organized
under this act should be prohibited from
acquiring and holding stock in other cor
porations Except for special reasons upon
approval by the proper federal author
ity), thus avoiding the creation. under
With subordinate corporations in different
agency in the 'creaeRar ssnch- an effective
and monopolies
state Laws Conflict.
"If the prohibition of the antitrust act
against combinations In restraint Oh uaue
Is to be effectively enforced, 1t is essen,
tial that the national government sn, ,
provide for the creation Of national cor
porat9ns to carry on irnite s States. The
conflicting laws of the different states OF
the union with respect to foreign corpora
tons make 1t difheutt II moi IvitS their
r re. Ii SO as to carry on business
in a number of different states. :.
''To the suggestion that this proposal Oh
federal incorporation for industrial COM
bnations is Intended to furnish tnem
refuge in which to continue INDUSTRIAL
business under federal p roteeeon, nterne
plated does not repeal the SHERMAN anu
trust law and is not to be framed SO as
to permit the doing OF me o wr4 }n s5rs vent
INT only 10 foster continuance and adj
vance of the highest Industrial EMERGENCY
without permitting industrial abuses
"such a national incorporation law VIII
he opposed, first, by those who believe
| that trusts should be completely broken
| IN and their property destroyed; II WI
be opposed second, by tn0 cb f wtle i'm in.
| corporation and even Y II Is valid, op Pee
| to II as too great federal centralizau ..,i
1t will be opposed, third, by ervs1 ineor cor,
| poration like this will not attract TO ~
| assistance the worst of the oHenderi
against the antitrust staI9te d n w,'
| TEN of compulsory licenses Tor az IeueI
| al corporations engaged in interstate
| business, ,4.t 4,
their order. The government is now try
ing to dissolve some of these compina
tions and It is not the i me- est Of re
In its effort to end these combination
which are to-day monopolizing the com
mcrce Of this country; that w nd co N er
ratSn Of property go to she 9arsn
directly restraining Interstate coinmerS.
to permit this monopoly to exist unoe
federal Incorporation or TO transfer
the protecting wing OF the iederal g go,
ernmen of a state corporation now VIZ
lating the Sherman act But II is no
and should not he, the policy of the GOV
eminent to prevent re h acos eorSei
the economic development OF manuta
ture. trade and commerce.
May Doubt consttutlonality.
.second-There are those who doubt Il
l constitutionality of such federal incorpo
= alton. The regulation of interstate al
foreign commerce Is certainty conlet ~
d If for the purpose of securing In the mo
thorough manner that kind of regulatio
: congress shall insist that 1t may provhl
n commerce, 1t would seem to be within
g power, this has been distinctly affirm
n with respect to railroad companies dol
s an interstate business, and intersta
y bridges. The power of incorporation n
y been exercised by congress ana upht
/ by the. supreme court IN this reg "a,
IT form of interstate commerce like the 81
Ie of goods across state boundaries ana II
foreign e. ssed m indeed dne IS the
merce that makes these great industr
A. concerns subject to federal prosecute
4 and control How far as incidental
~ y, the CARRYING on of that commerce 1t m
q be within the power of the federal 81
ar eminent to authorize the manufacturer
ne goods, is perhaps more open 70 t aisc
d. sion, though recent decision OF the
al preme court would seem to answer q
ee question in the affirmative.
n 1.-THE third objection, that the worst
C. tenders will not accept federal incorpo
r. ton, is easily answered. The DEGREES
Isl injunction recently adopted In prose
tie tons under the anti-trnst, law law are
MS lions affected by them have but III
es' courses before them:
on First, they must resolve themsel
to into their component parts in the diff
emit states, with a consequent loss
ST. themselves of capital and effective org
oe- ization and to the country OF conc