Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1914-01-20
rndEsRrPuBIIcAN mARsHALLToWN IOWA: JANUARY % 1914

buslness 10 90 things which public poi
Icy and sound business practice CON.
DENIM, Every act Of business 10 done ae
the command or upon the initiative OF
some socertainable person or group Of
persons. These should be held individ.
ually responsible and the punishment
should fall upon them. not upon the
business organization OF which they
make illegal use. It should be one Of
the main objocts Of our legislation to
divest such persons Of their corporate
cloak and deal with them as with those
who do not represent their corpora
lions. but merely by deliberate inten-
ton break tho law. Business men tho
country thru WOULD + am sure. applaud
us II we were to take effectual steps
to see that the officers: and directors
OF great business bodies were prevented
from bringing them and the business
OF the country into .disrepute and dan
ger. ae
!. Prohibit Holding Companies.
"Other questions remain which will
need very thoughtful and practical
treatment. Enterprises, in these mod
ern days Of great Individual fortunes,
are often-times interlocked. not by be-
ing under the control Of the same d.
rectors. but by the fact that the greater
part OF their corporate stock 10 owned
by q single person or GROUP OF persons
who are in some way intimately related
in interest. We are agreed, I take 1t.
that holding companies should be pro-
hibited. but what Of the controlling
private ownership Of individuals or
actually cooperative groups Of In.
individuals? Shall the private owners
Of capital stock be suffered to be Them
solves in effect holding companies?
We do not wish. suppose. to forbid
the purchase Of stocks by any person
who pleases to buy them in such guam
titles az he can afford, or In any way
arbitrarily to limit the sale Of stocks
to bona flde purchasers. Shall we re-
Quire the owners Of stock, when their
voting power in several companies
which ought to be Independent of one
another would constitute actual con-
troll, to make election in which Of them
they will exercise their right to vote?
This question venture for your con-
sideration.
Protect the Individual.
There Is another matter in which
imperative considerations Of justice
and fair play suggest thoughtful REM
edial action. Not only, do many Of the
combinations effected or sought to be
effected In the Industrial world work
an injustice upon the public in general;
they also directly and seriously injure
the individuals who are put out Of
business in one unfair way or another
by the many dislodging and EXTERN
mating forces Of combination. hope
chat we shall agree in giving private
individuals who claim to have been In.
jured by these processes the right, to
found their suits for redress upon the
facts and judgments proved and en-
tered in suits by the government where
the government has upon its own ini-
ttative sued the combinations COM
planned Of and won. its suit. and that
the statute of limitations shall be suf-
fered to run against such utigants only
from the date Of the conclusion OF the
governments action. 1t Is not fair that
the private litigant should be obliged
to set up and establish again the facts
which the government has proved. He
can not afford, he has not the power,
~ AAe1h0 uSo ". oNCIL RIOSSSoeessU1 ia
quiry AS the Epvernment has command
OF. Thus shall Individual Justice be
done while the processes OF business
are rectified and squared with the gem
eral conscience. 4
u ~ oenstituslDn of. bsao Il
have laid tkS care hefoEes you. no
doubt as It lies in your own mind. as
1t lies in the thought Of the country.
What must every candid man say Of
the suggestions I have laid before you.
Of the plain obligations Of which have
YOU? That these are new
things for which the country; is not
prepared? No; but that they are old
things. now familiar, and must of
course. be undertaken II we are to
square our laws with the thought and
desire Of the country. Until these
things are done. conscientious business
men the country over Will be unsatis-
fed They are in these things our
and colleagues. We are now
about to write the additional articles
Of our constitution Of peace, the peace
that is honor and freedom and pros
perity."