Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1911-01-17

lCreation, has urged a broad Federal
system of corporate publicity, which
shall give the public plainly the es-
sential facts Of our great businesses.
| The Bureau itself has been steadily
applying such publicity to interstate
| business. though necessarily covering
only few corporations. If that work
| has given substantial benefit to the
public and business. it has proved the
case for a broader system.
Methods Already Used.
For the last seven years, with staff
of specially trained men, the Bureau
has collected complete information
about certain selected corporations or
industries; has stated plainly the
meaning thereof. and published it in
reports. To make this effective, it had
To- be brought forcibly hcme to the pub
| lie. Therefore, the foremost thing in
each report has been a brief summary
of about five printed pages which gives
| the important facts and conclusions.
Framed particularly for the public
PRESS these summaries have had very
| wide circulation. The facts of certain
great businesses hav thus been laid
clearly before the great body of citi-
zcns This is efficient publicity.
! Results.
This publicity has given surprising
| results for the limited number of in
dustries and corporations which the
Bureau could cover with its small APP
preparation. The following review of
| these results is the best argument for
| corporate publicity:
Abolition of railway Determinations.
In 1906 the Bureau published re-
| port describing a great system OF rail-
way determinations enjoyed by the
standard Oil Company. During the
investigation. or within six months
thereafter, the railroads concerned
Cancelled every rate which the report
Icondemnedas illegal as we'll as many
others criticised as inequitable. The
more important of these oil rates thus
| Cancelled involved transportation be-
tween the following points; Whiting
ina. tWhere great refinery of the
standard is located), to East st. Louis.
ILL.,, the marketing gateway for the
Southwest; Whiting to Evansville
md, and southern points: Whiting to
Grand Junction, Tenn. and southern
points; Whiting to points in Michigan.
northern Indiana. Ohio. and Illinois:
Clean. y. Y. Standard refining point
to Rochester and points in Vermont;
Springfield. Mo. to points in Okla
homa; st. Louis to points in Louisiana.
Several proratng arrangements on oil
between eastern and western railways
were established or restored; and
various Whiting tariffs, hitherto UNI
filed OF J,,,
mcree Commission. There was also
a general reform in petroleum rates in
California.
Further reports published in 1907
described the Stanard Oil Company, it's
Investment. earnings. and profits.
Many independent oil concerns testified
that all these publications caused a
substantial improvement in the con-
| duct of the petroleum business. In
1909 Congress practically repealed the
| retaliatory duty which had prevented
| imports of petroleum from the most
important foreign producing fields, and
these reports were also largely used in
connection with that action.
Cotton eXchangeS.-In 1908 and 1909
the Bureau published three reports on
| the cotton exchanges. The New Or
leans Cotton Exchange at once entered
| into cooperation with the Bureau, and
voluntarily adopted certain important
| improvements in methods. a report of
the American Cotton Manufacturers
Association. adopted in May, 1903,
| states:
| Your committee would express their
hearty commendation and approval of
| the recent report of the Blu
| reau Of Corporations with rcfcnce to
| the question of cotton exchanges.
Tobacco industry.-In 1909 the Blu
| rcau issued a report on the Tobacco
Combinat ton Che American Tobacco
Company The beneficial results were
at once apparent. The Tobacco Com =
bination promptly abandoned the use
OF the secret subsidiary concerns ex-
posed by this report and formerly en-
pioyed against independents. Many
independent manufacturers stated that
this work had caused the cessation of
various Objectionable methods of com
petition, some even saying that but for
the work of the Bureau they might
have been forced out of business.
| In 1909 the Bureau prepared a report
on prices of tobacco, which was largely
used by Congress in copnection with a
material increase in the internal-reve
nue. tax on tobacco products.
| Water powers.-In 1909 prelim-
mary report on water powers was pub
| lished. 1t showed the strong ten
dency toward concentrated control OF
great water powers, and attracted wide
public attention to the subject.
special committee of the Michigan
Legislature, appointed to investigate
water powers in that state, asked and
treceived the cooperation of the Bureau
in it's work.
Taxation of corporations.-Two re-
ports on the taxation of corporations
in the New England and Middle At
lantic states We're published in 1909 and
1910, respectively. They have beer
largely used by public officials. A
Iccmmittce of the Rhode Island legisla-
ture, in it's report. quotes with ap-
prevail from one of the Bureaus re-
ports, and recommends legislation il
accordance Herewith. The privat,
use was also very large. The inter
national Tax Association, in September