Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1911-12-07
the disturbance to business that would
probably attend the dissolution of these

probably attend the dissolution or tneSe
offending trusts. | said:
but such an investigation and pos
sible prosecution of corporations whose
prosperity or destruction affects the
comfort not only of stockholders. but
of millions Of wage earncrs. employees
and associated tradeSmen. must neceS
sarily tend to disturb the confidence
Of the business community. I" dry w
tie now flowing source % capital
from its places of boarding and pro
ddce a halt in our present prosperity
that will cause suffering and strained
circumstances anon" the innocent
many for the faults Of the guilty few.
The question which wish in this
message to bring clearly to the con
sdoration and discussion of coulrp :
IS whether. in order to avoid such 4
possible business dau"rr. something
cannot he done by which these bust
ness combinations may he ot'ere Il
means. without great GuHncial Dis
turhance. Of "hangin@ the character
Organization nd cytcnt of their bust
ness into one within the lines of the
law under federal control and super
vision. securing compliance with the
antitrust statute.
"Generally in the Industrial comhma-
tiotS called trusts the principal bust
ness is the sale of goods in many states
and in foreign markets in other words.
the interstate and foreign business far
exceeds the business done in any one
state. This fact will Justify the fed
oral government in grantin" Il federal
oElrter to such Il combination to make
and sell in Interstate and foreign com
merce the products of useful manufac-
ture under such limitations as will Sc
cure Il compliance with the antitrust
law. 1t is possible so to frame a stat
ute that, while it offers protection to a
federal company against harmful, veX-
atious and unnecessary invasion by the
states. it shall subject it to reasona-
BILE taxation and control by the states
with respect to its purely local bust
ness.
Corporations organized under this
ing and holding stock in other corpo-
rations Except for special reasons,
upon approval by the proper federal
authority. 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 crea-
ton of the great trusts and monopo-
lies.
"If the prohibition of the antitrust
act against combinations in restraint
Of trade is to be effectively enforced
it Is essential that the national govern
ment shall provide for the creation of
national corporations to carry on a le-
Ultimate business throughout the Unit
ed States. The conflicting laws Of the
different states of the Union with re-
spect to foreign corporations make 1t
difficult, if not impossible, for one cor
poration to comply with their require
ments 50 as to carry on business in Il
number of different states"
I renew the recommendation of the
enactment Of Il general law providing
for the voluntary formation Of cor
porations to engage in trade and com
merce among the states and with for
eign nations. Every argument which
was then advanced for such Il law and
every explanation which was at that
time offered to possible objections has
been confirmed by our experience since
the enforcement of the antitrust stat
ute has resulted in the actual disSou-
ton of active commercial organZa-
lions.
II is even more manifest now than
It WAS then that the Remuneration OF
CONSTITUENCIES in restraint of trade
should not and does not mean the de
NAL of organizations large enough to
ic lutruStrd with our interstate and
foreign trade. II has been made more
clear now than it was then that a
purely negative statute like the anti
trust law may well be supplemented
by specific provisions for the building
NJ and regulation of legitimate ma
tiunal and foreign commerce.
Government Administrative Experts
Needed to Aid Courts In Trust
Dissolutions.
The drafting of the DEGREES i'll the
dissolution of the present trusts. with
Il view TO their reorganization into le-
climate corporations has made it es-
pccially apparent that the courts are
not provided with the administrative
machinery to make the necessary in
quirieS preparatory to reorganization
or to pursue such inquiries, and they
should he empowered to invoke the
aid of the bureau of corporations in
determining the suitable rcorganlZa-
ton of the diSintegrated parts. The
circuit court and the attorney general
were greatly aided in framing the de-
cree in the tobacco trust dissolution by
IN expert from the bureau Of corpora
tons.
Federal Corporation Commission Pro-
posed.
| do not set forth in detail the terms
and sections of statute which might
supply the constructive legislation per-
hitting and aiding the formation of
combinations of capital into federal
cornorntions They should be subject