The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1911-12-05
The disturbance 10 business that would

the disturbance 10 business that would
probably attend the dissolution Of these
offending trusts | said
But such an investigation and pos
sible prosecution Of corporations whose
prosperity or destruction affects the
comfort not only OF stockholders, but
Of millions OF wage earners, employees
ana associated tradcsmen, must neces.
sarily tend 70 disturb the confidence
Of the business community to dry up
the now flowing sources Of capital
from It's places OF boarding and pro
| duce halt IN our present prosperity,
that WIN catise suffering ana strained
clrc9 9iifstdhces among flfhe inuocent
many for fht faults Of the guilty few
The question witch wish in this
message 20 bring clearly to the con
slderation and discussion OF congress-
possible business danger, something
cannot be done by which these bust
ness combinations may he offered u
means, without great financial ds
! turbsnee. of changing the character
organization and extent OF their husi
ness into one within the lines Of the
| law under federal control aud super
vision. securing compliance with the
antitrust statute.
"Generally in the Industrial combina-
tions called trusts the principal bHsi
ness is the sale OF goods in many states
| and in foreign markets--in other words
the interstate and foreign business faI
exceeds the business done In any one
state This fact viii Justify the fed
era government in granting federal
charter 20 such IA combination to make
and sell In interstate and foreign com.
merce the products OF useful manufac
ture under such limitations as will se.
cure a compliance with the anti trust
law. II IS possible SO to frame stat
ute that, while II offers protection To a
federal company against harmful. vex
atious and unnecessary invasion by the
states. it shall subject 1t to reasona
BILE taxation and control by the states
with respect to Its purely local bust
ness.
Corporations organized under this
act should be prohibited from acqnir
ing and holding stock in other rorpo
rations except for special reasons
upon approval by the proper federal
authority. TINS 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 crea
tion of the great trusts and m0n0po
lies
IF the prohibition Of the anti trust
act against combinations in restraint
OF trade. is to he effectively enforced
1t is essential that the national govern.
meht shall provide for the creation of
national corporations to carry on a le
gitimate business throughout the Unit
ed States The conflicting laws Of the
different states Of the Union with re
spect to foreign corporations make II |
ditiicult, If NOT impossible for ono cor
poration to comply with their require
meuts 50 as TO carry on business IN a |
number OF different states
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 aud with for
eign ma tons Every argument which
was then advanced for such a law and
every explanation which was ut that
time offered to possible objections has
been confirmed by onr experience since
the enforcement Of the antitrust stat
ute has resulted in the actual dissou
ton Of active comnercia Or.unza-
tions
1t is even more manifest now than
it was then that the denunciation of
in restraint of trade
should not and does not mean the de
nia OF organizations large enough to
he ntrusted with our interstate and
foreign trade 1t has been made more
clear now than it was then that a
purely negative statute like the anti
trust law may well be supplemented
BY specific provisions for the building
lp and regulation Of legitimate ua
-ional and foreign commerce.
Government Administrative Experts
Needed to Aid Courts In Trust
Oissolutions.
The drafting Of the decrees in the {
dissolution Of the present trusts. with Y
view to their reorganization into le- '
Ultimate corporations, has made 1t es-
,ecialy apparent that the courts are /
lot provided with the administrative '
to make the necessary In I
Iuilies preparatory to reorganization I
+ to pursue such inquiries, and they Y
hould be empowered to invoke the {
id OF the bureau OF corporations in Y
the suitable reorganiza c
Ion Of the disintegrated parts. The
ircuit court and the attorney general
'ere greatly aided in framing the de
rec in the tobacco trust dissolution by