The Lexington intelligencer. [volume] (Lexington, Mo.) 1901-1949, 1914-01-23

sected into their component units as
readily as railroad companies or SINH
lar organizations can be. Their 1850
luton BY ordinary legal process may
oftentimes involve financial conse'
quences likely to overwhelm the Sc
curity market and bring upon 1t break
Town and confusion. There ought to p :
an administrative commission capable
of directing and shaping such correc'
tive processes 0 only in aid of the
courts but also by Independent sugges.
ton, if necessary.
Meet Business Halfway.
Inasmuch as u object and the spir.
1t Of our action in these matters Is to
meet business half way in its pro
cesses Of self correction and disturb
its Legitimate course as little as pos.
sible. we ought to see to 1t, and the
judgment of practical and sagacious
men of affairs everywhere would ap
plaud us if we did see to it that pen.
alties and punishments should fall, not
upon business itself, to its confusion
but upon the individuals who use the
instrumentalities Of business to do
things which public policy and sound
business practice condemn. Every
act of business is done at the command
or upon the initiative of some ascer
tainable person or group Of persons.
These should be held individually re-
sponslble and the punishment should
fall upon them, not upon the business
organization Of which they make lille.
gal use. 1t should be one of the main
objects Of our legislation to divesi
such persons of their corporate cloak
and deal with them as with those who
do not represent their corporations,
but merely by deliberate intention
break the law. Business men the
country through would, l am sure, ap
plaud us if we were to take %effectual
steps to see that the officers and direc.
tors Of great bodies were prevented
from bringing them and the business
Of the country into disrepute and dan.
ger.
Other Questions.
Other questions remain which will
need very thoughtful and practical
treatment. Enterprises, in these mod.
ern days of great individual fortunes
are oftentimes i~nterlocked, not by be
ing under the control Of the-same di.
rectors, but by the fact that the great
Ell part of their corporate stock is
owned by a single person or grour
Of persons who are in some way init.
mately related in interest. We are
agreed, I take 1t, that holding compa
MES should be prohibited, but what Of
the controlling private ownership Of
individuals OF actually cooperate
groups Of individuals. Should private
owners of capital stock be suffered tc
be themselves in effect holding com.
panies. w do no wish, l. suppose, tc
forbid the purchase Of stocks by any
person who pleases to buy them IN
such quantities as he can afford, or in
my way arbitrarily to limit the sale
Of stocks to bonafide purchasers. Shall
We require the owners Of stock, wheD
their voting power in several coma.
MES which ought to be Independent of
one another would constitute actra.
control, to make selections in WIZ
OF them they viii exercise their rights
to vote? This question | venture tJI
your consideration.
Fair Play for All.
There is another matter in which i'm.
perative considerations of justice and
fair play suggests thoughtful remedial.
action. Not only do many Of the cot
binstions effected or sought to be ef
fected in the industrial world work
an injustice upon the public in gener
al; they also directly and seriously in.
jure the individuals who are put out cf
business in one fair way or another
by the many ~dislodging and extermin.
ating forces of combination. | hone
that we shall agree in giving priya.
individuals who claim to have been in.
Jured by these processes the right 10
found their suits for redress upon the
facts and judgments proved and en-.
tered IN suits by the government
Where the government has upon ms
own initiative sued the combinations
complained Of and Vol its suit and
that the statute OF limitations shall no
suffered to run against such litigantq
only from the date of the conclusion
OF the governments action. If is mo,
rair mat the private litigant should
De obliged to set up and ESTABLISH
agaln the facts which the government
mas proved. He cannot afford no bos
not the power to make use OF sucb
processes Of inquiry as the government,
mas command Of. Thus shan lndlvia
ual justice be done while the processs.
OF business are rectified and sope :
with the general conscience
have laid the ease before vo,,
doubt as It lies in your nina ~
II lies In the thought Of the countrv
"hat must every candid man saw =,
me suggestions | have laid before ,oD
81 the plain obligations Of wb,os
nave reminded you? That tbssa
are new things for which
country is not prenared9 sue