Omaha daily bee., 1911-12-06

that the national government shall pro-
vide for the creation or national corpor-
atoms to carry on a legitimate business
throughout the United states. The con-
flicting laws of the different states of the
union with respect TO foreign corporations
make il difficult. II not impossible, for
one corporation to comply with their re-
uuirements so as to carry on business
in a number OF different states.
II renew the recommendation OF the en-
actment of a general law providing for
the voluntary formation OF corporations
to engage in trade and commerce among
the states and with foreign nations. Ev-
ery argument which was then advanced
for such a law and every explanation
which was at that time offered to pos
sible objections have been confirmed by
our experience since the enforcement OF
the antitrust statute has resulted in the
actual dissolution of active commercial
organizations.
1T is even more manifest now than At
was then that the denunciation of con-
spiraces in restraint of trade should not
and does not mean the denial Of organl-
cations large enough to be intrusted with
our interstate and foreign trade. 1t has
been made more clear now than II was
then that purely negative statute like
the antitrust law may well be supple
mented by specific provisions for the
building zip and regulation of legitimate
national and foreign commerce.
Experts Needed TO Aid Courts.
THE drafting of the DEGREES in the dis
solution of the present trusts, with a
view TO their reorganization into legiti-
mate corporations, has made IL especially
apparent that the courts are not pro-
vided with the administrative machinery
to make the necessary inquiries prepara-
tory TO reorganization, or to pursue such
| inquiries. and they should be empowered
to invoke the aid of the bureau Of cor
poTations in determining the suitable
| reorganization OF the disintegrated parts.
The circuit court and the attorney gem
eral were greatly aided in framing the
decree in the Tobacco trust dissolution
by an expert from the bureau OF corpora
tons,
Federal Corpora ton Conn lssiOB.
Il do not set forth in detail the terms
and sections OF a statute which might
supply the constructive legislation per
mittting and aiding the formation of
| combinations OF capital into federal cor
pOrations. They should be subject 10
rigid rules as to their organization and
procedure. including effective publicity.
and TO the closest supervision as to the
issue Of stock and bonds by an executive
bureau or commission In the Department
| OF Commerce and Labor, TO which in
times of doubt they might well submit
their proposed plans for future business.
II must be distinctly understood that in
corporation under a federal law could
not exempt the company thus formed and
Its incorporators and managers from
prosecution under the antitrust law for
subsequent illegal conduct. but the pub
licity Of it's procedure and the opportunity
for frequent consultation with the bureau
or commission In charge OF the incorpor-
alton as 10 the legitimate purpose OF It's
transactions would offer Il as great Sc
curity against successful prosecutions for
violations Of the law as would be practi-
cal or wise.
Such a bureau or commission might
well be invested also with the duty al
ready referred TO, OF aiding courts in the
dissolution and recreation OF trusts with.
In the law II should be an executive
tribunal OF the dignity and power of the
comptroller OF the currency or the inter
state commerce commission, which now
exercise supervisory power over impor-
tant classes OF corporations under federal
regulation.
The drafting Of such a federal ineor.