The Oskaloosa herald., 1915-01-21
URCESU. CONTROL
OF FOUNDATIONS
Untermyer Says Organizations
Should Have Licenses.
DO MUCH GOOD AND NO HARM
Lawyer Asserts That Labor Unions
Can Never Relieve Labor Con.
dltlons-Asks Government
Regulation.

New York, Jan. 19.-Federal incor
poration for the Rockefeller founda,
ton and for other foundations en-
dowed to help humanity was adVo
Gated here by Samuel Untermyer,
famous corporation lawyer, before the
federal commission on Industrial re.
lations. This commission, the chair.
man of which is Frank P. Walsh of
Missouri, has begun an ivestigation OF
the Rockefeller. Carnegie. Russell
Sage and Baron de Hirsch foundations
to determine whether or not they
should be regulated by the United
States government, and Mr.. Untermy.
er was the first witness.
Have Great Power.
The power and Importance OF these
foundations can be guarded from the
fact that they control about 100000.
900. Other recommendation by Mr..
Untermyer we're:
1. That the charters given to the
foundations by the United States gov.
eminent should be limited.
2. That the size of the foundations
should be limited.
3. That the foundations should not
be allowed to accumulate their in.
come.
Mr.. Untermyer said that the
foundations were doing much good
and no harm, but that they gave a
fair example of the evils Of the vice Of
state legislation. He declared that
tho foundations were not satisfactory
wholly because they were operating
under state charters. The govern
ment, he believed, should have sound
control over them and should have a
hand In the selection of trustees to ad-
minister them.
Warns Commissioners.
Mr.. Untermyer warned the commits
sioners that they must not look to
national sentiment for guidance, say.
ing:
The social conditions in America
have been demoralized by the methods
used In accommodating the fortunes rep
resented by these foundations. I am
certain, however, that such accumu,
lations could not be repeated. Times
have changed
Denies That Unions Can Help.
The labor unions, Untermyer said
can never relieve labor conditions.
What we need" he asserted, Is
governmental regulation.
The witness then went into a dis
cussion OF life insurance companies
There is one company, he said, which
has 100000 policyholders. To hold
an election would cost half a million
dollars.
Because of the COST" the witness
asserted, "it is impossible to hold an
election at which officers could be reg
ularly elected. OF course, as the com.
pany Is a mutual organization, a pol
icyholder can vote if he appears at
regular meetings. But nobody ex-
poets the policyholders to appear, how.
ever. The state should be represent
ed in the management of this concern
If interests Of all arc to be cared
for"
In reply to questions, Mr. Inter
myer said that he believed practically
all the railroads in the United States
were controlled by one or the other
of the groups OF banking houses.
Roger W. Babson, statistician, was
called at the afternoon session. He
said be believed the principal menace
to capital and labor was absentee
ownership.
1t has been my experience that
there seldom Is labor trouble in a
plant when the owner resides in the
same town." he said. He thought that
the annual meetings of big companies
should be held at the mills and there
should be labor representatives OIL the
boards.