The Ogden standard. [volume] (Ogden City, Utah) 1902-1910, 1910-01-07
SPECIAL ME- SSAGES
SENT TO CONGRESS
Amendments to the Interstate Commerce Laws
Are Advocated Along Lines Suggested in
the Presidents Speeches. Federal
Incorporation Act

Washington Jan President special message dealing
~ath amendments to the interstate laws looking
effective federal conveying RECON-
for the federal incorporation
ed to congress today and read the house. the
The message followed closely the that made
from time to time and the suggested legislation railroads
all OF the suggestions that the president has
speeches the subject
Mr. Taft suggests changes in the Sherman anti trust law at
hls time The antitrust feature of the message solely
the subject of federal charters president an oppor
nIy should be given the big industrial combinations bring
business into the by taking out
federal charter under certain prescribed be-
comes necessary to proceed against corporation about
there Is breath of suspicion
1t the duty purpose of the executive says the meg
sage 70 rect an investigation by the department of Justice through
the grand otherwise the history organization pur
reasonable ground they have been organized for
purpose and are conducting business plan which
ton OF the antitrust law.
Such wholesale investigation possible prosecution
president points out however would result serious disturbances
and produce halt prosperity that will
f anu M among the innocent many Tor the
question wish in this message to bring clearly to
the constellation and discussion of whether
avoid possible business disaster something done
by which these business combination may means with
out great financial disturbance of changing the character organizing
and extent OF their business into within the lines the
federal control and supervision securing compliance
trust statutes
upon charters are to be granted
under the presidents recommendations these:
The issue of stock be equal only cash
paid in on the stock if stock be issued for then
fair valuation aertaned under approval and
authority after full complete disclosure all appr
tanning the value of the property and the
persons whom the stock is to be issued
Corporations taking federal charters be prohibited from
acquiring and holding stock in other corporations special
approval by the federal authorities
Full reports of operations be department
and labor at regular intervals The incorporation
to be voluntary but the president feels that corpor
ations will be glad of the opportunity
methods given this opportunity Otherwise the department
justice will investigate them Nothing the federal charters
corporation from prosecutions violations
trust law.
In that portion Of his dealing with changes in the
state commerce laws the president
The establishment of United States five
appeals interstate
States court
The be relieved prosecuting
courts this duty being placed the
Pooling arrangements to be allowed direct
supervision of the commission.
The commission to be pass npou freight
fcatons.
The commission to be empowered to hold class
ification by railroads until
abeness found to be unreasonable the
the increase
Shippers given the choice establishing through
freight.
From and after the passage the amendments provided
that railroad shall acquire stock competing
line except that where road already so