Lincoln County times. (Jerome, Idaho) 1911-1919, 1914-01-29

ihduSuudte 10 ADJUST lne Ttlleuy W
the wrong in a way that will meet all
the equities and circumstances of the
case. |
Producing industries, for example,
which have passed the point up to
which combination may be consistent
with the public interest and the free
dom of trade, cannot always be dis
sected into their component units as
readily as railroad companies or sim
liar organizations can be. Their dis
solution by ordinary legal process may
oftentimes involve financial conse-
quences likely to overwhelm the Be-
curity market and bring upon it break
down and confusion. There ought to
be an administrative commission ca
pable Of directing and shaping such
corrective processes, not only in aid
Of the courts but also by indepndent
suggestion, II necessary.
Make PunIshmxnf Certain.
"Inasmuch as our object and the
spirit Of our action Eli these matters
Is to meet business half way in its
processes of self-ccYrection n dis
turb its legitimate course as little as
possible, we ought to see to it, and the
judgment Of practical and sagacious
men of affairs everywhere would ap-
plaud us II we did see to it that pen
alties and punishments should fall.
not upon business itself, to it's confu-
sion and interruption, but upon the
individuals who use the instrumental
tiles of business to do things which
public policy and sound business prac-
tho nnndannn EtrnrU oct nf hIICfnaCd
is dom at the command or upon the
initiative of some ascertainable per-
son or group of persons. These should
be held individually responsible and
the punishment should fall upon them,
not upon the business organization OF
which they make illegal use. 1t should
be one of the main objects of our leg
islation to divest such persons OF
their corporate cloak n 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, l am sure, applaud US If we
were to take effectual steps to see
that the officers and directors of great
bodies were prevented from bringing
them and the business of the country
into ~disrepute and danger.
"Other questions remain which will
need very thoughtful and practical
treatment. Enterprises, in these mod
ern lays OF great individual fortunes
are oftentimes interlocked. not by
being under the control of the same
directors, but by the fact that the
greater part of their corporate stool
is owned by a single person or gropI
Of persons who are in some way in
timately related in interest.
Holding Companies
I'VE are agreed, l take it, that hole
ing companies should be prohibited
but VIA of the controlling privat
ownership of individuals or actual.
, cooperative groups of individuals
| Shall the private owners of capita
r stock b suffered to be themselves 1
effect holding companies? We do nc
I wish. | suppose. to forbid the pui
' chase of stocks by an person VIII
, pleases to buy them in such quaint
ties as he can afford. or in any wa
t arbitrarily t limit the sale of stock
{ to bonafde purchasers. Shall we r.
quire the owners of stock, when the
e voting power in several companie
r which ought to be independent of or
d another would constitute actual CO
troll. to make selection in which
them they will exercise their right
vote? This question l venture Il
n your consideration.
y There is another matter in whiC
imperative considerations of justi'
and fair play suggests thought
y remedial action. Not only do maj
o of the combinations effected or soug'
p to be effected in the industrial wor
e work an injustice upon the public
IS general; they also directly and Sc
ously injure the individuals who a
put out of business in n fair way
is another by the many dislodging a
f. discriminating forces of combinatic
r I hope that we shall agree in givi'
IL private individuals who claim to ha
Of been injured by these processes I
lg right to found their suits for redre
y. upon the facts and judgments prov
re and entered in suits by the COVE
IN ment where the government has up
its own initiative ued the combil
he lions complained of n o its 81
and that the statute of limitatiC
shall be suffered to run against ST
ar litigants only fr ~ the date of
h conclusion of the governments acti
~ Individual Justice.
70 ut is not fair that the private
CANT should be Obliged to set up /;
,ry establish again the facts which
10. government has proved. He can
afford. he has not the power to mi
40. use of such processes of inquiry
NV the government has command
do Thus shall individual justice be d.
while the processes of. business
he rectified and squared with the gene
an conscience.
in al have laid the case before you.
in doubt as 1t lies in III own mind,