The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1910-01-07
Antitrust Law and Federal Ineo
poration


Antitrust Law and Federal lneor-
poration.
There has been marked ten.
dency In business in this country
for forty years last past toward
combination Of capital and plant IN
manufacture, sale and transporta.
ton. The moving causes have been
several
First. it has rendered possible
great economy: second. by union
OF former competitors II has re-
duced the probability of excessive
ompetition; and. third. II the com.
biaation has been extensive enough.
and certain methods In the treat
ment OF competitors and customers
have been adopted, the combiners
have secured monopoly and com.
plctc control OF prices OF rates.
combination successful In
achieving complete control over a
particular line OF manufacture has
frequently been called a trust"
The increase in the capital of a
business for the purpose OF reduc-
ing the cost of production and ef
fecting economy in the management
has become an essential in modern
progress as the change from the
hand tool to the machine When
therefore. We come to constlue the
object OF congress in adopting the
so-called Sherman antitrust act"
In 1890. whereby in the first section
every contract. combination in the
form of trust or 9th rwise, or
conspiracy In restraint of inter,
state or foreign trade or commerce.
Is CONDEMNED d as unlawful and made
subject TO indictment and restraint
by Injunction; and whereby in the
second section every monopoly or
attempt TO monopolizc. and every
combination or conspiracy with 9th.
er persons to monopolize any part
OF interstate trade or commerce,
Is denounced as Illegal and made
subject 70 similar punishment or
restraint, We must infer that the
evil aimed al is not the mere big
ness of the enterprise. but II was
the aggregation Of capital and
plants with the express or implied
intent 10 restrain interstate or for
eisn commerce. or to monopolize It
In whole or in part.
In considering violations of the
q thrust law We ought not to
forget that that law makes unlawful
methods OF carrying on business
which bef-re its passage were re.
garled a evidence OF business sa-
gacity and success. In dealing,
therefore with many ot the men
who have used the methods con
'eluet by the statue for the pur.
pose ~ maintaining profitable
'us mess. We may well facilitate a
change 0y them n the method Of
t0..- business aud enable them 70
ring .t back into the zone OF
lNtIlur,s without losing . the
country the economy of movement
by which in our democratic trade
the cost Of production has been
materially lessened and in compe.
tit.on with foreign manufacturers
our foreign trade has been greatly
increased
Through all our consideration OF
this grave question. however, We
must insist tha, the suppression of
competition. the controlling OF prices
and the monopoly or attempt TO
-opolize in interstate commerce
and business are not only unlawful,
but contrary 10 the public good. and
that they must be restrained and
punished until ended
|, therefore. recommend the en-.
actment OF a general law providing
FOR the formation OF corporations 10
engage in trade and commerce
among the states and with foreign
nations. protecting them from un.
due interference by the states and
regulating their activities. so as
10 prevent the recurrence, under na-
tlonal auspices. of those abuses,
which have arisen under state con.
tTol. Such 4 law should provide for
the issue for property. then at
fair valuation. ascertained under ap.
proyal and supervision OF federal
authority, after a full and complete
discl- sure OF all the facts pertaining
10 the value OF such property and
the interest therein OF the persons
70 whom il is proposed 20 issue
stock in payment OF such property.
Il should subject the real and per.
sonal property only Of such cor.
pcrat!ons TO the same taxation as
Is imposed by the states within
which II may be situated upon 9TH
ev similar property located therein,
and Il should require such corpo-
rations 20 file full! and complete
reports OF their operations with
the department Of commerce and
labor az regular intervals
Corp ratio-s organized under this
ac; should De prohibited from ac.
curing and holding stock in other
operations teXoept for special rea.
sons upon approval by the proper
federal authorities, thus avoiding
the creation under national auspices
2 tho holding COMPANY with subor.
dna;e corporations in different
states, which has been such an
effective agency In the creation OF
the grea, trusts and monopolies.
n the prohibition Of the anti.
trust ac, against combinations in
restraint of trade d. ?, h. ~. a.,