The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1911-11-15
Improper immunity Of stockholders
and fliroctOra from, lio httity

IUpfopcr immunity or 6tOCkhOlderS
and directors from liability.
Statutes Of Limitations In favor of
corporate wrongdOers that bar causes
Or action before the victims can possi-
bly, know that they have one. and
"Al the numerous other tricks and
1nkers which corporate cupidity and
dishonesty have engrafted upon the
state corporation laws.
An industrial commission of seven
members to be appointed by the presi-
dent with the advice of the senate
similar IN its general character and
constitution and in its powers over In
state commerce to the present inter-
state commerce cc:nmission which
shall have among other things, the
following powers:
ITO pass upon all applications for
federal charters or licenses Gas may
he decidedly snd to reject the same un-
less the commission Is satisfied that
the applicant Is not conducting busi-
ness in violation Of the Sherman law
or of any other law.
All the powers now possessed by
the bureau of corporations, which
with its documents and all
CT OF investigation, are to be
,este> ~ ne commission
10 recommend for prosecution by
the attorney general all corporations
SO engaged in interstate commerce in
violation Of law.
TO undertake the separation and
dtsintegration of all corporations that
nave been adjudged by the courts to
nave been organized or to be existing
or operating in violation of tho anti
trust law. but subject to the direction
and control Of the courts rendering
such judgments. To that end the COM
mission should have power to appoint
receivers, to sell all or parts of the
property. subject to the confirmation
or the court. to ratify or reject plans
TOT the organization of the company
to conform to the law, to keep such
corporations under its general super
vision. and to report for the action of
the judgments Of dissolution.
Trade Agreements.
To act upon the petition of per-
sons engaged In competition in any
interstate industry, praying that they
pe permitted to enter into a trade
with one another limiting
production and fixing the prices of
any given commodity which is the SUBJ
1ect OF Interstate commerce, provided
that It shall appear from the petition
ana the data accompanying the same
SNS 1uSCSII6dllVH6 VI InC
commission that are to be made upon
the Iiling of such petition:
That the output Is not to be re-
stricted beyond tho usual and legiti-
mate demands for the commodity;
That the maximum price CHARGE
able by the petitioners under the terms
of the agreement does not allow an
undue profit; and
That as result of competition be-
tween the petitioners and with others
df there are others) who do not care
to join In the petiti. the Industry
on the whole has been Improbable for
at least one year next preceding the
of the petition due to
over production and ruinous competi-
tion.
IAN orders of the commission to be
subjec: to appeal to the commerce
court by the parties in interest in like
manner as appeals are now authorized
from orders Of the interstate com.
merce commission.
I'm this sketch have purposely
omitted special reference to the treat
ment of labor unions. preferring that
that subject should be first discussed
with the subcommittee