The Waxahachie daily light. [volume] (Waxahachie, Tex.) 1894-current, 1910-07-12


F eastt ai st sn "a sna eiUti
! @aa syws.s ssssss sessssss - tnstnan
ampIlmthslue ere iAW eaNef
srah ihe an'aaht " constructive laR
isisiiar u pasHea hs ntstHhtina#
sllsd attsatiea - fsct xtbh his
taft VII teeofa mis- % stpai seq
H. AmmtAu hisiats and tbte e. ohf
n ihs Fisat teefs
tt aetsas - more organization
ana legitimate atar wsse Nf0v
ins Esd th. complaint aeslnsi ihef
paa et8etag. but n1,hlnF $40 helna
tanp Nv the evmplalnauts ftihw
afa b~ins done noe some pfotfesa
10 tslnE made toNAfd the 8tss8in
tlah ~ trusts The iAwa faealaiipa
- railroads d makin8 majestic
atfiaex nfitets and bfihesiktera are
being indicted utfeuaes witch a fes
Yaats s9u Il seemed difficult fe
react arr beinR fsatbeA fatait SEN
tlmrni u rfSsfallifihg Nilt a broad =
undertaking - why the Illegal acts
~ great combinations are iilvrai
With this Il coming demand shat
feftaiu violations 81 iaA should nos
BE- pcnsiised witt fines bu, that Tn
pfisenment Is the better means THIS
siii not be- accomplished for tet
sears. bot eventually 1t vtu Do ae
camplishrA. probably for such ~.
feHsos as oYereapitailHation or stock
watering, combinations for the res
traibt OF trade. selling snderwelght
of imBafe products sad such other
very real offenacs against society
that are not OF violent nature.
II is rather amusing Ia hear the
rural stump speaker demand that
the trust be put In iail A lack OF def
big business organizations makes II
difficult for the poorly Informed to
understand the deliberate actions Of
their representatives higher up. A
trust Is after all merely company
which issues stocks and bonds. These
are purchased by everyone from truss
tees of orphans homes and colleges
TO Wall street gamblers. The people
own the trusts. Their stockholders
are probably about as representative
group OF men and women as any
| on earth. This IL especially true
since the men employed by some 81
these companies are encouraged to
own stock
Offenses are actually committed
however, by executive officers ana
boards of directors. These men are
both stockholders and employees Of
the stockholders and employers of
the stockholders. They see other
companies making combinations,
giving rebates, obtaining rebates and
strangling competition by Illegal
| methods. These things are time
honored business institutions. Only
In recent years have steps been taken
to prevent them. Boards OF directors
are very human. 1t is but natural that
they should indulge in the profitable
business.
This is best fought with a cam
paign OF education. No one can lay
HIS hand upon the shoulder OF one
| man and say he is the trust. II ,s
rather trust system. These trusts
are scrupulously honest about that
part OF their dealings with regard to
which public sentiment is crystal
lized. II Is quite plain to those who
understand 1t that capitalization of
81 600, 900 worth OF assets at So
100000 and charges which force the
patrons to pay dividends on this fic
titious value are dishonest Bat the
very organization OF business along
these lines is something new, nearly
| as new as overcapitalization on a
large scale.
Without n1cusing the offense il
must be remembered that the trusts
are not four or five well-fei gentle
men In plug" hats wearing big dia-
monds. The trusts VIII soon very
much against their will, prob IDLY be
beneficent institutions working Won
dcrs for the development OF this
country.
This Is an age of constructive legs
lation. When public opininn Vas
reached the right point of crystalH-
,s''on ard 'te law is beta, enforced
20 the poi.. where these dishonest
business methods are the exception.
no doubt 1t will be possible to place
an executive officer OF corporation
on trial with his own stockholders
for the jury and send him to the pen
itentiary. Even stockholders In trusts
want to be honest, honorable citi-
zens After the developments Of two
years the outlook Is actually bril-