The Vinita daily chieftain. [volume] (Vinita, Indian Territory [Okla.]) 1902-1913, 1912-04-29
TRUST EVIL
IS SOLVED
Special to the Chieftain.

Special TO the Chieftain.
ST. Louis, Mo-, April 29.-Interest
that is being arused in the proposed
plan of Leonard Matthews, a million
aire banker, broker and business man
of st. Louis, for solving the trust evil
is indicated by the letters that he has
received from prominent men all over
the country in regard to this scheme.
Matthews has set forth his ideas in a
series of pamphlets. copies of which
have been sent to President Taft, mem
bers of congress. justices of the United
States supreme court and others.
Matthew'S plan is to absorb all the
trusts and business corporations by
central cooperative holding company
owned by the people and supervised
by the government. This proposed con-
cern is to manufacture and sell goods
of all kinds and do a general bank
ing, insurance and public utility bus
mess. The company is to operate in
perpetuity under federal charter. Its
dividends are to be limited to 6 per
cent. The company is to be called the
Eota company. the word being an
acrustic of Equal Opportunities to
ALL"
The letters that have been received
by Matthews in regard to his plan all
indicate that the writer's realize that
the scheme is not at all impossible or
Utopian and that they believe with
Matthews that the present condition
of business matters in this country de-
mand some reconstruction. Requests
for more information on the subject
come with every communication
Matthews is SO years old and has al
ways been active in business, even
now spending several hours day at
his downtown Offices. He has mag
nificent home at 5447 Cabanne Avenue.
His family is prominent socially He
has been a deep thinker on business
subjects for years and the plan that
he has suggested is the result of care
fuf consideration as to what change
can be made which will do TIE most
good IN reudjusting things and cause
the least loss and financial disturbance
when the change is effected.
Cooperation on comparatively
small scale has been found valuable in
reducing the cost of living and is now
suggested by politicians" Matthews
declares. Then why not have it on
the largest possible scale?
Should plan Of the nature of mine
be adopted at once it would mean an
archy and ruin to business? There
are contracts such as leases, bonds,
unnatural modes of living, etc, which
must have time to conform to the pro-
posed cooperative company to pre-
vent large losses. The proper and safe
way to bring about the plan is to set
a definite time for its consnmmation
should say that % years would be
sufficient.
But every existing corporation and
every corporation that may be organiz-
ed in the future shall obtain a federal
charter limiting its capital and term
OF existence. At the same time charter
the Eota company to begin business
ando permit as many corporations as
may desire to do so to come in at
once, the Eota company to exchange
the stock for an equal amount in the
Eota company.
A federal commission should also
be appointed to regulate prices, sal
~ aries Of officials, insurance premiums,
wages, freight rates and al corpora
tions, including the Eota company All
corporations except the Eota company
should also be required to pay "a per
cent per annum into sinking fund
from which the stockholders are to
be reimbursed at par at the expiration
of the term of existence as provided
in the charter. All stock held by any
one person in any corporation above
S1500OO should be subject to call at
par to prevent speculation and be able
to furnish stock to others wishing to
invest. The same provision would
apply at all times to the Eota company.
q by carrying out the plan in this
way nothing will be interfered with