Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1911-12-06

~ distuebanee % bon1ness tha1 would
probably attend the dissolution Of theee
o6rendine trustA I said:
sBut such an investigation and pos-
sible prosecution Of corporations whose
prosperity ~ destruction affects IL
ccmfost not only Of stockholdsrs. but
Of millions Of wage sarners. employees
and associated tradesmen. must necee-
sari1y tend to disturb the conndencs
Of the business community. to dry up
the now moving sources Of capital
from tn places Of boarding and pro-
duce = halt In our present prosperity
that viii cause suffering and strained
circumstances among the innocent
many for the faults Of the guilty few.
The question which Wish In this
message to bring clearly to the con-
sidesation and discussion Of congress
b whether. in order to avoid such
possible business danger. something
cannot BE- done BY which these busi-
ness combinations may Be offered .
means. without great financial dis
turbance. Of changing the character.
organisation and extent Of their busi-
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 combine
tions called 'trusts' the principal bust
ness b 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.
eral government IN granting Z federal
charter to such q combination to make
and sell in interstate and foreign COM
merce the products Of useful manufac.
turs under such limitations ~ will Sc
cure q compliance with the antitrust
law. Il II possible 70 TO frame stat
ute that. while II Offers protection to Z
federal company against harmful. vex.
atious and unnecessary invasion BY the
states. Il shall subject 1t to reasona.
BILE taxation and control BY the states
With respect 70 its purely local bust
neAs. -
Corporations organized under this
act should be prohibited from acquir-
ing and holding stock In other corpo-
rations Except for special reasons,
upon approval BY the proper federal
authorityE 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 crca-
don Of the great trusts and monopo-
lies
III the prohibition Of the anti-trus.
act against combinations In restraint
Of trade Is to be effectively enforced
It h 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 II
din1cult. II not impossible. for one cor
poration to comply with their require
ments 20 as to carry on business In .
number of different states"
I renew the recommendation Of the
enactment OF 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 law and
every explanation which was ct that
time offered to possible objections has
been confirmed BY our experience since
the enforcement Of the antitrust stat
ute has resulted iq the actual dissolu-
ton Of active Commercial orEaniza-
dOns.
II II even moro manifest now than
Il was then that the denunciation Of
conspiracies In restraint Of trade
should not and does not mean the de-
NAL Of organizations large enough to
be intrustcd with our interstate and
foreign trade. II has been made more
clear now than It was then that .
purely negative statute ike the anti
trust law may well be supplemented
By specific provisions for the building
up and regulation Of legitimate ma
uonai and foreign commerce.
Government Administrative Exports
Needed 70 Aid Courts In Trust
oissolutions-
The drafting Of the DEGREES In the
dissolution Of the present trusts. with
. view to their reorganization into le-
climate corporations. has made 1t e.
pecially 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 BE- empowered to invoke the
aid Of the bureau Of corporations In
determining the suitable reorRanisa-
tion Of the disiptegrated parts. The
circuit court and the attorney general
were greatly aided In framing the D.
cree In the tobacco trust dissolution By
an expert from the bureau Of corpora
lions.