The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-07-21
Takes Issue With Judge
Gary That Government
Should Have Control of
Business Corporations.

ATEW YORK, July 2o.-1n an aca-
demic discussion of government S
relations to corporations this
afternoon John T. Parsons, for
mer president of the American Bar as
sociation. and former counsel for the
American Sugar Refining company, SAID
TO the congressional committee lnvesti'
eating the sugar trust that the PROPOSE.
ton of E. IA, Gary, chairman of the
United States Steel corporation. for
government control OF business combina-
tions, was socialistic.
He added that In his opinion congress
should place no restriction whatever
on trade.
Government should permit com-
merce TO take its course he said. " A
great corporation cannot be organized
merely on the valuation In dollars and
cents of the physical property-the men
behind 1T must be capitalized, They are
worth something to the investor. The
capitalization must be on the physical
properties, the prospects of the business
and the men who are to manage it. That
is not water.
Attacks Harlan S Opinion.
of congress should pass law con
opinion IN the Standard Oil and Tobac-
co trust cases, it would cause the coun-
try great disaster, If Justice Harlan g
opinion stood as the ruling opinion OF
the court, our lails would be filled to
overflowing with stockholders and Of
ficers Of corporations. No two busl-
nesses could combine to increase their
trade
Mr.. Parsons was positive that there
should be no government control OF
corporations, that they should be per-
mitted free hand and that the ulti-
mate consumer would profit thereby,
In discussing the agreement between
the American Sugar Refining company
and the American Beet Sugar company
relative to the agreement for the control
Of sales, which was declared illegal,
Mr.. Parsons refused to admit that it
bound the refining company not ia
market its cane product during the few
months of the beet sugar company IS
season, or vice versa.
Would Not Agree.
Nor would he say that the clause in
the agreement prohibiting the beet
sugar company from selling in New
England was in restraint of trade.
John Arbuckle s testimony as to the
agreement with H. o. Hnvemeyer
which is supposed to have ended the
big sugar war, will be taken at New
Paltz, n. Y, on Monday,
The mysterious resolution which h
o. Havemeyer put through the board OF
| directors of the American Sugar Re
fning company in 1891 approving cap.
| plications made by political parties
is strangely lost. The committee in
structed Secretary Freeman Of the com.
pany to produce that resolution, bui
| Freeman today opened the proceedings
| by saying his search for the important
paper had been failure.
Mr.. Parsons followed Mr.. Freeman or
| the stand,
Willing to Take Blame.
~ am willing to take the blame fol
originating the idea Of consolidating
| the sugar interests into the big company
in 1887 said Mr.. Parsons
| Mr., Parsons went further and said
that this was the first big combination
even preceding the Standard Oil, aut
Representative Madison Of Kansas re
marked:
"Ah! Here is the real father of thu
trusts"
"There had been many makers OF
sugar prices to 1887" continued Mr.