The Farmington times. (Farmington, St. Francois County, Mo.) 1905-1926, 1910-01-13

| able Or can be introduced into the stat
uty.
In considering violations Of the ant.
trust law We ought, ui course, not 10
forget that that law makes uniawiul,
methods OF carrying on business WIG "
before It's passage were Regarded at ''t'
dencc Of business sagacity anu SUGGEST,
and that they were denounced IN iiiif e.. I
not because OF their intrinsic immoral
ity, but because Of the dangerous re-"
suits toward which they tended, the con-
centration OF industrial power III We
hands OF the few, leading to opprts-
niOn and injustice. In dealing, therefore,
with many OF the men who have used
the methods condemned by the statute
for the purpose OF maintaining a proiit-
ablo business, We may well facilitate
change by them In the method OF do
Ing business. and enable them TO bring "
bach into tho 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 lesscned, and in competition
with foreign manufacturers our foreign
trade has been greatly increased.
Asks National Corporation Law.
IL therefore recommend the enactment
by congress Of IA general law providing
for the formation Of corporations 10 en-
gage IN trade and commerce among the
states and with foreign nations, protect
ing them from undue interference by the
states and regulating their activities so
as to prevent the recurrence, under ma
tiOnal auspices. Of those abuses which
have arisen under state COntrol. Such n
law should provide for the Issue OF stock
%; such cOrpuratOnss to an amount equal
only 10 the cash paid In on tle STOCK,
and II the stock be Issued for property,
then at fair valuation asCcrtsined un-
der approval ana supervision o. federal
authority after a fun and comp ctc dis
closure Of all the facts pertaining to the
value Of such property and the Interest
therein OF the persons to whom II is
proposed to issue stock in payment OF
such property II should subject the real
and personal property only Of such cor
porauuus to the same taxation as i'm
posed by the states within which II may
be situated upon other similar property
located therein, and II should require
such corporations to file fun 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
por1tiOns Except FOR special reasons upon
approval by the proper federal author
ity), thus avoiding the creation. under
national auspices, Of the holding company
with subordinate corporations In different
states which has been such an effective
agency In the creation OF the great trusts
and monopolies.
State Laws Conflict.
III the prohibition Of the antitrust act
against combinations In restraint Of trade
is to be effectively enforced. II Ia essen
tial that the national government shall
provide for the creation ~ national cor
pOratIuns to carry ON a legitimate husi-
ness throughout the United States The
conflicting laws uf fh" different states ~
tho union with respect 10 foreign corpora
tons make q diH.uiL II not Impossible.
for one corporation To- comply with thr.-
requirements so as To carry on business
In 70 number Of different states
TO tho suggestion that THIS proposal u'