The Farmington times. (Farmington, St. Francois County, Mo.) 1905-1926, 1911-12-07

fective for such o purpose been entered
BY a court than that against the Tobacco
trust
II has been assumed that the present
pro-rRts and common ownership in all
these companies hY former stockholders
Of the truat would insure continuance
Of the same old single control OF all tho
companies into which the trust has BY
decree been disiuteErated. This Is err
roreous and In based upon the assumed IN
efficacy and innocuousness OF Judicial IN
functions The companies are cnjoined
from cooperation or combination, th'y
have different managers. directors pur-
chasing and sales agents II All or any
OF the numerous Stockholders. reaching
into the thousands. attempt to secure
concerted action OF the companies with
view 10 the control OF the market. their
number is SO large that such an attempt
could not well be concealed and Its prime
movers and all It's participants would be
at once subject to contempt proceedings
| and Imprisonment OF summary chhrnc-
| ter The immediate result OF the present
| situation will necessarily be activity by
| nll the companies under different man
ayers and then competition must follow.
| or there will be activity by one company
| and starnRtlon by another
Cry for Repeal Of Law.
| But now that the antitrust act Is seen
| to be effective for the Accomplishment OF
| tho purpose OF It's enactment we are met
| by a cry from many different quarters
| for Its rrpea! II is said TO be Obstructive
| OF business progress. to be an attempt 10
| restore old fashioned methods Of de-
atructivc competition between small units,
and TO make Impossible those useful com
| binntIous Of capital and the reduction OF
| the cost Of production that are esfenuaI
| to continued prosperity ana norman
| growth.
| In the recent decisions the Supreme
| court makes clear that there is nothing
| In the statute which condemns combina-
| tons OF capital or mere hiRness Of plant
| organized to secure economy In prodnc-
| lion and a reduction Of its cost, II II only
| when the purpose or necessary enect OF
| the organization and maintenance Of ths
| combination or the aggregation Of I'm
| mense size are the sitting OF competition.
| actual and potential, and tho enhancing
OF prices and establishing monopoly
| that the statute IL violated
For Federal incorporation.
In special message to congress on
January :, 1910 ventured to point OUT
| the disturbance to business that wouln
| probably attend the dissolution OF
| these offending trusts ! said:
'Rut such an investigation and pos
| sihle prosecution Of corporations whose
| prosperity or destruction Affects the
comfort not only OF stockh"Iu'iS ""' W
| millions OF wage eHrn"rs' e"?"Fe"'
and associated trndesmcn must neces-
Harily tend to disturb the confidence OF
the business community, TO dry up INC
now flowing sources Of capital from lts
places Of boarding, and produce ha,'
In our present prosperity that Will
cause suffering and straln"d clr'uln
stances among the Innocent many Tor
| tho fRult or the guilty rev INC Vu''
| ton which wish In this message 10
bring clearly TO IN" consideration ana
| discussion Of congress ~ whether IN
order to uHuid such possible" business
danger something cannot ne u"h' Wy
which thcac business combinations may
he offered means without Ereh' Hh'h
| cial dIfiurhEur" ~ changing IN" 'hhr
acter organ zutIon and extent NJ in'|t
! business into ON" within IN" lines 81
the law under federal control ana hh'
pervisinn. securing compliance win lh'
| antitrust statute.
Generally. I'm the indue'rlal comm
nations called Trusts. tn" principal
| business is the sal" Of goods IN many
states and In foreign markets. I'M uih"l
words the Interstate and foreign busl
ness far exceeds the business don" u
any one state. This fact will lusufl
the federal government In granting
federal charter to such cnmhina loi
to make ana sell In Interstate ma TOT
! ,ign commerce the products ~ uHr'H
, manufacture under such limitations ~
VIII secure rnmnIlhnr' WV" ,,' I'm ~
w. , ,na, ,,r,ia n orrcrs protec
-, tIornI rorpony nRnins
har,,t,t ycyutIouu md unrrccsear,
',,,asta,, h,. tho states II shall suhJec
4, -, r,,.o,,hlc tn,etinn and contro
b., e., st,t.p with rsspcct to It's pure
u, leo, ,,,gtr,ss
- OVERWHELMINGLY ,rgapIzcd under thu
-, .ha,,Id "a. rrohlbited from aruuIr
ar1 holdIrg stock In other corpora
, -, 10 ,,,,,,,,, TO- .recIal rc1aops upol
, ! ...i a.. a.. rr,nor fclarol author
t,,S tbus ,yoidipp thr creation unde
ro,,,raI a,,snIccs of the holding com
nany y.i,b s,hordIneto corporatIona II
, btgc,cpt gtatcs which has hcon such n
, acoc,l,e ,-e,cv In tho creation Of I'll
s,,cet tru.ts ana noponolIoq
Z "T, tb, prohlbItIon of iIr. anti .trus
r o,, oyni,et combinations In restrain
- NJ trade Is TO he crT,rtrvriv 'uFurarr
, 4, 10 ...,..,tt.,l ,t.,r ff,. ratipoYI gov. rn
I ,u.pt sh,I rr.,|I,. Tor ,rr creation "a
national corror.,tiora 10 curry nm
o. i,gitI,rnta lus.u,sg throughout tI
, Rated st,t,g The conflicting laws n
- ,hc atn,rcnt states ~ the Union wit
r.s,oc, 10 for,igu cofruy4tiong make
r a. Jit.cuIt II not impossible for on
cornorotInn 10 comply with their re
/ ouircmcuts 40 Ms to carry on bushes
d In n nurber Of different ptater"
A -, o.l..Io, p.o,o,.d
reoeT"' So"''"s0''