The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1914-01-21

use. 1t should be one Of the mhin
objects Of our legislation to divest
such persons of their corporate
cloak and deal with them as with
those who do not represent their
corporations, but merely by delib-
crate intention break tho law. The
business men the country through
would, / am sure, applaud us if we
were 10 take effectual steps to see
that the officers and directors OF
great business bodies were pre-
vented from bringing them and the
business of the country into disre-
pute and danger.
Other Questions Remain.
Other questions remain which
which will need very thoughtful and
practical treatment. Enterprises,
in these modern days of great indi-
vidual fortunes, are oftentimes in
terlocked, not by being under the
control Of the same directors, but
by the fact that the greater part
Of their corporate stock is owned
by single person OF group OF per-
sons who are in some way intimate
" related in interest. We are
agreed, I take it, that holding COM
panies should be prohibited, but
what Of the controlling private
ownership Of individuals or actual
ly cooperative groups of indiyid-
uals9 Shall the private owners of
capital stock be suffered to be
themselves in effect, holding COM
panyf
We don It wish, suppose, to for
bid the purchase of stocks by tho
holding companies' We don t wish,
l suppose, to forbid the purchase Of
stocks by any person who pleases
to buy them in such quantities as
he can afford, or in any way arbi~
trarily to limit the sale Of stocks
to bona fide purchasers. Shall we
require the owners of stock, when
their voting power in several COM
panies which ought to be indepen-
dent Of one another would consti-
tute actual control, to make cleo
tion in which of them they will OK
ercise their right to vote7 This
question l venture for your con-
sideration.
Individual Injury.
There is another matter impera-
tive considerations of Justice and
fair play suggest thoughtful rem
edial action. Not only do many Of
tho combinations expected or
sought to be perfected in the in
dustrial world work an injustice on
the public in general, but they also
directly and seriously injure the
individuals who arc put out of bust
ness in one unfair way or another
by the many dislodging and exter-
miDating forces Of combination. |
hope that we shall agree in giving
private individuals who claim TO
have been injured by these pro-
cesses the right to found their suits
for redress on the facts and iudg-
ments proved and entered in suits
by the government where the gov
ernment has on its own initiative
sued the combinations complained
of and won its suit and that the
statute of limitations shall be suf-
fered to run against such litigants
only On the date of the conclusion
Of the governments s 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
cannot afford, he has not the power
to make use Of such processes of
inquiry as the government has
command Of, Thus shall individual
justice be done while the processes
of business are rectified and
squared with the general con.
science.
Matters Are Submitted.
] have laid the case before YOU.
no doubt as it lies in your mind, as
1T lies in the thought of the conn
try. What must every candid man
say Of the suggestions I have laid
before you, of the plain obligations
Of which 1 have reminded yous
That these are now things for
which the country is not prepared7
No. but that they are old things,
now familiar, and must of course
be undertaken if we are to SQUARE
our laws with the thought and de-
sire OF the country. Until these
things are done, conscientious busi.
ness men the country over will be
unsstis6ed. They are in these
things our mentors and colleaeues
We are now about TO write the ad.