New-York tribune., 1910-01-08
from The Tribune Bureau J

Washington. Jan. THE President
sent 10 Congress to-day his special mes
sage recommending certain amendments
70 the interstate commerce act and urg-
ing the enactment of a law providing
for federal incorporation for corpora
tions engaged in interstate and foreign
commerce.
The Presidents recommendation af-
tecting the interstate commerce law, all
Of which have been outlined in these dis
patches. provide for the natural and
logical development Of the railway rate
law Apart from the proposition that
commerce court, 10 consist of five cir
cult Judges. should be created. Mr.. Taft's
recommendation are not novel. but have
for their purpose the correction of those
defects in the interstate commerce law
which have been disclosed by the opera
ton OF the rate law
The diflculty of fixing q just rate for
transportation in the case of railroads
whose securities have been unduly in
aated Mr. Taft would remedy by con-
ferring on the Interstate Commerce
Commission full supervision and author
ity over all future Issues of stocks and
bonds
The only modification Of the Presi-
dents railway programme resulting from
his recent conference with the presi-
dents Of six of the largest railroads is
the recommendation that, for the protec-
tion OF minority stock holders, roads
which already own a majority of the
stock Of competing line shall not be
prohibited from acquiring the remainder
Of such stock. The President urges
that in all other instances railroads be
forbidden 10 acquire the stock Of COM
peting lines. and that In no case shall
the provisions OF the enactment he pro-
poses validate any violation Of the anti
trust law.
WOULD NOT CHANGE LAW.
In that portion OF his message dealing
with the antitrust law and federal in
corporation. President Taft urges that
provision be made for federal incorpora-
ton, and submits that in view oP 1ha
series Of decisions Of the Supreme Court
under the Sherman antitrust law. il
would be unwlse 10 attempt TO change IL
The tenor Of his argument is that
while the earlier decisions under the
statute of 1890 We're too narrow, ito
gradual Interpretation. through the SLOW
process Of the law has now become so
broadened as 10 make It a useful and an
elective statute, with which il wouId he
unwise 10 tanper by legislative enact
n1ent. With regard 10 the suggestion
that the Sherman Law should be so
amended as TO permit ''reasona BILE" re-
straints Of trade. Mr Taft saws. "I
venture to think that this is to nut into
the hands of the court q power in1pos-
sibie 10 exercise on any consistent prin-
ciple which will insure a uniformity Of
decision essential 10 Just judgment"
The President asserts his conviction
that the federal government has power
- protect such corporations as it NAV
create from excessive state taxation or
control He recommends that only the
real and personal property OF such cor
porations be left subject 70 state taxa
noh' and then only 10 the same taxation
rs Is imposed by the state on similar
property located therein Referring TO
state control, he uses the expression in
aoNocating FEDERAL Incorporation: PRO
pecuns Them from undue Interference by
lne states and regulating their activities,
60 as TO prevent the recurrence, under
hauonal auspices, OF those abuses which
'laVe arisen Under state control"
FEDERAL INCOPPoRATIOM.
IN this portion of his message the
PRESIDENT take up the objections urged
against federal incorporation. The sug
Continued On hfh page.
iElh text of President Tafrs sps3ial
1nessaoe IN Dare