The Forrest City times., 1911-12-08

e. q forcing the statute.
 Supplemental Legislation Needed-Not
 Repeal CT Amendment. sec DO objeetion-and indeed l can see decided adyantages-in the enact meut of law which shall describe and denouace methods of competition. which are unfair and are badges of the unlawful purpose denounced in the antitrust law. The attempt and pur pose 10 suppress a competitor by Ea- derselling him at price so unprofit able as to drive him out of business. or the making of exclusive contracts with customers under which they are required to give up association with other manufacturers. and numerous kindred methods for stifing compei- tion and effecting monopoly. should be described with sufficient accuracy in a criminal statute on the one hand to enable tee government to shorten its task by prosecuting single misde- meanors instead of an entire con spiracy. and. on the other hand. to serve the purpose of pointing out mere in detail to the business com munity what must be avoided
 Federal Incorporation Recommended. In a special message to congress on January :. 1910. yentured to point out the disturbance to business that would probably attend the disso- lution ef these offending trusts. I said
 Put 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 earuers. em- ployes and associated tradesmen must necessarily tend to disturb the con- fderce of the business community. 10 dry up the now flowing sources of capital from it's places Of hoarding. and produce q halt in our present prosperity that will cause suffering and strained circumstances among the innocence many for the faults of
 the guilty few The question which I wish in this message to bring clear ] ly 10 the consideration and discus l sion of congress is whether. in order 1 to avoid such possible business l danger. something cannot be done by l which these business combinations
 may be offered q means. without great l financial disturbance. of changing the l character, organization. and extent Of 1 their business into one within the l lines of the law under federal control l and supervision. securing compliance l with the antitrust statute
 Generally. in the industrial com i binations called Trusts. the prin-
 cipal business Is the sale of goods in
 many states and in foreign markets; in other words. the interstate and for eign business far exceeds the busi-
 ness done In any one state This i fact will justify the federal govern ment in granting federal charter 1 10 such combination to make and ] sell in interstate and foreign com
 merce the products of useful manu- l fracture under such limitations as will i secure compliance with the anti i trust law IL is possible so 10 frame a statute that while it offers protec- ton 10 federal company against ] harmful. veXa,ious. and unnecessary 1 invasion by the states, t shall sub. i ject it to reasonable taxation and ] control by tho states with respect to
 it's purely loca! business
 Corporations organized under this act should be prohibited from ac- curing and holding stock in other corporations except for special req
 scHs, upon approval by the proper i federal authorifE) 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.
 If the prohibition of the antitrust act against combinations in restraint of trade is 10 be efectiyels enforced it is essential that the national gov, ] ernment shall provide for the creation of national corporations to carry on a legitimate business throughout the
 nited States The conflicting laws of l the different states of the Union with respect to foreign corporations makes i 1t difficult. if not impossible. for one corporation to comply with their re- quirements so as to carry on business l in numter of different states"
 l renew the recommendation of the enactment of general law proyiding for the voluntary formation of cor porauous To engage in trade and com. merce among the states and with for eign nations, Every argument which was then advanced for such a law and every explanation which was at that time offered 10 possible obiec- tions have been confirmed by our ex- perience since the enforcement of the antitrust statute has resulted in the actual dissolution of active com. mercial organizations.
 It is even more manifest now than it was then that the donunciation of eonspiraeles in restraint of trade should net and does not mean the de. nlal of organi22tioas large enough to hp iufrUcsed ,7-fst l4.-