The Leon reporter. (Leon, Iowa) 1887-1930, 1914-01-22

consequences likely 10 VeIWAoAh
the security market and bring on 1t
breakdown and confusion. There
ought to be an administrative COM
mission capable of directing and
shaping such corrective processes,
not only in aid of the courts but
also by Independent suggestion, II
necessary.
Inasmuch as our object and the
spirit of our action in these matters
is to meet business half way in it's
processes of self-correction and dis
turb it's legitimate course as little as
possible, we ought to see to 1t, and
the Judgment of practical and saga
cious men of affairs everywhere
would applaud us if We did see to it,
that penalties and punishments
should fall, not on business itself, to
it's confusion and interruption but
on the individuals who use the In
of business to do
things which public policy and sound
practice condemn.
Every act of business is done at
the comand or on the initiative of
some ascertainable person or group
of persons. These should be held
individually responsible and the pun
ishment should fall on them, not on
the business organization OF which
they made illegal use. 1t should
be one of the main objects of our
legislation to divest such persons OF
their corporate cloak and deal with
them as with those who do not rep
resent their corporations, but mere
" by deliberate intention break the
law. Business men the country
through would, | am sure, applaud
us if we were to 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 Need Treatment.
Other questions remain which will
need very thoughtful and practical
treatment. Enterprises, in these
modern days Of great individual Tor
tunes, are often-times interlOcked,
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 or
group of persons who are in some
way intimately related in interest.
We are agreed, l take it, that hold
ing companies should be prohibited,
but what of the controlling private
ownership of individuals? Shall the
private owners of capital stock be
suffered to be themselves in effect
holding companies? We don't wish,
! suppose, to forbid purchase of stocks
by any person who pleases to buy
them in such quantities as he can
afford, or in any way arbitrarily to
limit the sale of stocks to bona tide
purchasers.
Shall we require the owners of
stock, when their voting power in
several companies which ought to be
independent of one another would
constitute actual control, to make
election in which of them they will
exercise their right to vote? This
alton.
Combinations Injure Individuals.
There is another matter in which
the imperative considerations of JUS
tice and fair play suggest thoughtful
action. Not only do many
Of the combinations effected or
sought to be effected in the indus
trial world work an injustice on 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
and exterminating forces
Of combination.
hope that we shall agree in CIV
ing private individuals who claim to
have been injured by these processes
The right to found their suits for re-
1ress on the facts and judgments
proved and entered in suits by the
government where the government
las on it's own initiative sued the
complained of and won
is suit and that the statute Of limi-
ations shall be suffered to run
against such litigants only from the
late of the conclusion Of the govern
nent's action.
1t is not fair that the private liti-
;ant should be obliged to set up and
establish again the facts which the ,,
government has proved. He cannot
ford, he has not the power, to make |
Use of such processes Of inquiry as
he government has command of. |
'hus shall individual Justice be done |
'hile the processes of business are
ectified and squared with the gen.
raj conscience.
Peace in Business Honor.
I have laid the case before you, no
oubt as it lies in your own mind, as
lies in the thought of the country.
What must every candid man say Of
ne suggestions ! have laid before
on, of the plain obligations of which
have reminded you? That these are
ew things for which the country is
OF prepared? No; but that they
re old things, now familiar, and
lust Of course, be undertaken if we
re to square our laws with the
lought and desire Of the country.
ntil these things are done, con-
,ientious business men the country
yer will be unsatisied. They are
, these things our mentors and col
'agues. We are now about to write
re additional articles of our con-
tuition of peace, the peace that is
onor and freedom and prosperity.
Our friend, Harvey Axes, of west
OWN, was in town last Thursday, re-
ewing for HIS Ran0rter tho coming |