The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-06-15
lehman SPEAKS
TO VARSITY MEN
POINTS OUT NECESSITY FOR sU.
PERvIsIoN OF CoUNTRY's
GREAT CORPORATIONS.

CHARLOTTESVILLE. VA, June
tions doing interstate business was
urged by Frederick w. Lehman, So
iicitor general of the United States, In
hts address to the graduating class at
the University Of Virginia Wednesday
afternoon.
After tracing the development OF
corporations in the United States since
1899 MIR I.ehusann said:
These institutions have u great in
fluenee on the business operations of
the country. and yet We have not done
much In the way Of regulation. except
that the government keeps watch over
the banks. We have regulated puhlic
utility corporations upon the side al
the service they render, and their
charges hut not on the side of their
capitalization nor conduct ~ their In
tsrnal affairs. The other great cor
porations~~m mercantile, Industrial and
riscellaneous~--w number more
than 10000. with capital stock Of
$4,000 600 Geo. practically have no
regulation I'm any way. either as to
organization or conduct of their busi-
ness.
Necessity fer Supervision.
THE prime need is TO regain con-
seriousness Of the fact that tho cor
poration il a uublie institution. The
powers Of corporations should he
carefully defined as should the scope
Of their activities. Where corpora
tons are restricted to a State as their
field Of business. this should be done
by the State. but where their field of
operations extend over several States
rthe nation, the functions of regu-
lstion and even of creation should be
exercised by the nation.
This extension Of government sup
ervisien over all varieties OF corpora
tons may he objected TO as socialis,ic
In nature. but the socialism of bust
ness begins with and inheres in the
creation of the corporation itself, but
not In It's reguia ton. corporation
ss itself the negatfon OF the individ-
saI II signifies the com hination OF
many under one direction, and con-
troll should not have the sanction OF
law withou. being also subject to re-
straint of law
The procession Of graduates. alum
nj, faculties and the visitors formed
at the rotunda and proceeded dowr
the lawn 10 Cahel Hail. affording III
interesting spectacle. The Invocation
was spoken by the Rev. Ernest NJ
Stirts rector Of St Thomas church
New York. and Mr.. Lehman deliv
cred his address. An interesting feat
ure of the day was the announcement
of graduates in nursing, as follows
Grace Reane, Haymarket. Va. Kath
ieen Mary Flanagan. Birmingham
Ala: Emma Harlan. Charlottesville
Va: Ethel Mcleod. Crozet. Va. Mel
lie Nash. Norwood Va; Robert Steele
Greenviile Va: Ellen Tucker. Heal
ing Springs. Va. Gladys Wingfield
kperryville. Va
Phi Beta Kappa Exercises.
The Phi Beta Kappa exercises tool
place last night The address was de
iivered by DIR. s. G. Mitchell presi
dent of the University OF South Caro-
lima. and the poem, THE Twiligh
cf the Singers" was read by its au
thor. Judge n. r. w. Duke. Of Char
louisville. Among the initiates fror
the alumni were Or. Henry T.. Smith
president Of Davidson College, Mort
Carolina; DIR. Ernest NJ. Stires, of 81
Thomas church, New York. and Hen
ry G. Stuart. OF Virginia. Represen
tatfxe Underwood. George Gordon Bat
tie. OF New York: Judge r. H. Far
rar. Of New Orleans, and several 9th
ers who were elected to membershi
In the society were not present.
The social event of commencement
the final ball, was danced last nigh
In the Fayerweather gymnasium.