New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-10-05
Large Companies in a ouandary'

| IL has given both companies six months
/ I'm which TO reorganize their analrs. ms
/ term of six months has not yet ,eAplI gu
! Meanwhile il is impossible Tor any laIse N
/ ferstgte industrial company TO know dell
uitelv whether its form Of organization IS
] legal or illegal. ,, 80. .ho
/ And there seems 10 be teenng OH e eIt
Part Of the executives OF the SONerhihehs
! that they are in honor bound 70 go on anu
apply the law, as they understand H. 10
other large industrial companies 49,.
! I'm view OF the vote of the people at the last
national election, in view OF the Opinions
] handed down by the Supreme Court, IN We"
Of the length Of time they gave the TWO com
panies in which to reorganize' WhiGh I ft
\ mas not vet expired: in view OF the tdct
/ that. no man to-day knows how these com,
panies are going to be reorsanlZed; ana
/ therefore cannot use them as models IN
view of the fact that there mas alitaug
! 1eau introduced into the new Democratic
I Congress elected last fail a resolution 10
| take this question up and inVesuSate H.
/ in, Wow Of the fact that the Republican
Senate just before it adjourned instructed
lis Interstate Commerce Committee 10 SIT
! this fan and take up this question and
yvS'Ild If not seem to be prudent and Just
J ~ can a halt on indiscriminate attacks on
orr great international agencies OF INDUS
4 trial trade until some one in authority can
r,aka clear how we can legally carry on a
I large successful international industrial
We have had commissions appointed that
! are now investigating how railroads should
/ lee capitalized in order 10 prevent Stock
/ va taring schemes: we have had cOmmS-
sion appointed 10 investigate the poStal
rates. we have had a commission appoint
/ ed TO investigate and report on the tarlI'
! and on all three Of these great and impor-
/ t4pt husinees questions judgment is being
SUSPENDED and action is not 70 he taken
( until these commissions have reported.
In view OF all that has happened, why
cannot q commission be appointed in the
same way for the same purpose In connec..
/ zion with our great industrial agencies or
/ trade? ,,.,-.. -
F rounding business have been taking place.
/ They amount TO complete reversal OF old-
/ Fashioned methods II we should wake up
/ eoroa morning and find that the ROCKY
/ Mountains had been turned into pure gold,
/ ,vo,,ld not the first thought of every student
/ ~ finance be What becomes of our gold
And vet such an upheaval in the world Of
finance would he scarcely greater than the
unbeaval which steam and electricity have
brought i'm the world Of commerce.
Offers Remedy for Conditions.
believe we must have some such sys-
/ TEN as the following:
group of men in a given state have a
given business. BY their inventive genus,
executive ability and indomtable courage
I they develop that business to a point where
[ tIey want 20 20 into other states and
across the seas to push H. They want TO
take i'm additional partners and sell 10
everybody. everywhere.
| In order 20 do this they foresee that they
will need n large Capital-more than they
or their local friends can provide they.
therefore, have 10 so TO the pubic ana ask
thnfl TO become shareholders. when this
4 ",Jition arises my belief Is that these
nm should go TO our federal government
and nj least lay bare their plan, expose
their Capitalization. their methods and
MEN objects: that they should agree that
- etotad intervals they would submit to
the government complete statements as 70
tho 0upratiOns Of their business, 50 that the
aovarnnent in turn might say 10 the labor
enploved. TO the consumer served. and TO
tho investor. that the statements these men
are making are complete end honest.
This docs not mean state socialism: II
docs not mean government ownership: It
docs not mean government management; II
docs not mean fixing prices; II does not
mean that the government would be run
ming our industrial business: but u does
moan SUPERVISION and publicity similar TO
not which g. now being required Of our
banks and railroads.
II docs mean that some authority as big
and broad as the territory in which the
e.id companv wants TO operate Will he IN a
poeition 10 say 20 the people. In our iudg
roent this is right" or this rs wrong In
/ Injection with securing suitable publicity
and SUPERVISION we could gradually make
ig,-e AS we have with our railroads. that
would accurately define wrongs and innict
! IN short a system by which publicity,
frIi frank and complete, could be had
from the proper source. will Of itself eradi-
cate u very large part Of all our trouble
and AT the same time preserve for our
naopIo the enormous asset that they have
in he efficiency OF these great interstate
md international agencies Of trade that
have been built up after such a struggle
and in order 90 rueet the conditions brought
about hy the great evolution that has
taken place IN the last quarter Of a cen
fury.
why cannot wc NJ least try to regulate
before We Actually strangulate2 " ~ 90
dimoult 20 build up: IT Is so easy 90 tear