The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1914-01-20

made itself responsible. 1t demands
such a commission only as an indts-
pensable instrument of information
II publicity, as a clearing house tor
the facts from which both the public
mind and the managers Of great bust
ness undertakings should be guided,
and as an ilstrumentality for doing
Justice to business where the processes
OF the court OF the natural forces of
correction, outside the courts are i'm
adequate to adjust the remedy to the
wrong in a way that will meet all the
equities and circumstances of the case.
Producing Industries.
producing industries, for example,
which have passed the point up to
which combinations may be consistent
with the public interest and the free
don of trade. cannot always be dis
Sectcd into their component units as
rapidly as railroad companies or sim
liar organizations "a be. Their dis
solution by ordinary legal process may
oftentiines involve financial conse-
tiuenccs likely to overwhelm the Sc
curity market n bring upon it break
down and confusion. There ought to
he an administrative commission cap
able of directing and shaping sucl
corrective processes. not only in aid of
the courts but also by independent
suggestion, il necessary.
Place Punishment Upon individuals.
"Inasmuch as object and the
spirit of II action in these matters
is to meet business half way In its
processes of self-correction and dis
turh its legitimate course as little as
possible. We ought to see to it, and
the judgment of practical and saga
cious men Of affairs everywhere would
applaud us il we did see to it that pen
alties and punislments should fall, not
upon business itself. to it's confusion
and interruption, but Upon the indi-
viduafs who use the instrllmentalities
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 in
itiative Of some ascertainable person
or group of persons. These should be
held individually responsible and the
punishment should fall upon them,
upon the business organizations
Of which they make illegal use. 1t
should be n of the main objects of
our legislation be divest such persons
of their corporate cloak and deal with
them as with those who do not rep
resent their corporations. but merely
by deliberate intention break the law.
Business men the country through
would, I am sure, applaud us If we
were to take %effectual steps to see that
the officers and directors Of great BUS
mess bodies were prevented from
bringing them and the business of
the country into disrepute and dam
ger.
Prohibit Holding Companies.
"Other questions remain which will
need every thoughtful and practical
treatment. Enterprises. in these mod
ern days of great individual fortunes,
are oftentilnes i~nterlocked, lot by be-
ing under the control of the same di-
rcctors, but by the fact that the great
err part of their corporate stocks is
owned by a single person or group of
persons who are in some way init
mately related in interest. We are
agreed, 1 take it, that holding COM
panies should be prohibited, but what
Of the controlling private ownership
of individuals or actually cooperative
groups Of individuals? Shall the pri-
vate owners Of capital stock be suf-
fered to be themselves in effect hold
ing companies: We do not wish, l