| Show LAWYER CALLS CALLSON ON ROOSEVELT ism Eugene E of Chicago Offers His Views on Pend Pending Pending Pending ing Questions S PRESIDENT READS BRIEF ONE IDEA OF ATTORNEYS GEN GENERAL GENERAL GENERAL ERAL INDORSED Washington Nov 10 Eugene E a law lawyer lawyer lawyer yer for three years ears president of the citizens association there called Cd n the president yesterday to pr nt his views on corporate reforms The president read and discussed with interest the brief statement which Mr Trussing submitted It fol foI follows follows lows Currency reform antitrust law la amendments and railroad regulation naturally will claim the first places in hi Im congressional action General cor corporation corporation reform in Its various phases way may ma fairly be classed second in importance tance t uee Long and varied experience n Corporation matters leads me to offer these suggestions suggestion Opposition to Federal Court J The first question that of Jurisdiction tion of the federal government will in each instance be the challenge of the opposition Successful effort therefore must be along the line of the least re r resistance that is to say in harmony with the principles of state rights and local government as well weIl as the sen sea sentiments sentiments based upon these even if ex ox extreme extreme National control of interstate com commerce commerce commerce merce corporations as distinguished from national incorporation of all or most corporations will be readily granted by most men of both parties Compulsory publicity of or accounts the subjection of books papers and amI plans to inspection n etc of govern government government government ment officials wil easily be accomplished accomplished pUshed Plan of Attorneys General The new nev ne step advised by the time asso association as elation of attorneys general slightly modified will be in the right direction and will be approved by state rights men and federalists alike The asso association association association recommends that the right to hold stock in any other corporation should be denied to all interstate com corn commerce commerce merce pierce It seems to me that the purpose 0 of this namely to compel the real ll owners of a corpora corporation tion to U to do business in name can be achieved by requiring the time cor corporation corporation corporation owning stock in another and the corporation in which It owns stock stoel to list such owners and amI respectively in every case casO in inthe Inthe Inthe the department of commerce Thus honest holding companies will wIil be per permitted permitted permitted and yet protected against pos possible possible sible sibie assault of local taxation or other unjustly discriminating laws just as national banks are now nw while the pub public public lic lie In turn will have knowledge of whom it is dealing with and can cn pro protect protect protect itself All National Banks The change of state banks and trust companies to national banks which caI be accomplished by a single amendment of the national banking ng act will also be popular and can be along states rights The proposed change is this Give national banks two additional powers and their consequences 1 l To accept and execute trusts by complying with the general stale state laws on that subject wherever they ex cx exist exIst and in the District of Columbia 2 To accept trust savings and time deposits and to keep separate ac accounts accounts accounts counts of the total of ot these making proper rules for notices of withdrawals and allow as small a percentage percent ge of re reserves reserves serves as to these deposits and also alao the making of solid bond bend and mortgage and other savings bank investments oC or time tho U funds so received Thus every national bank becomes I Ithe the full fun competitor of trust companies and soon the latter will wilt be forced to become bec me national banks Enlist States Rights Men Go at the general corporation problem problem lem lern In a similar manner Enlist the state rights men on your side Keep the subject of incorporation and ordinary ordinary ordinary nary control a state concern make the local laws harmonize if possible by b appointing ap a 1 commission to Investigate investigate gate the entire subject Get the best talent Root Choate Dillon and others of ot that type tYDe will be glad to serve for patriotic reasons and a re result suit sult will be achieved ac In inthe the form of a code based on principles and experiences suited to our dual government and varied conditions just as It was in Germany in in the enactment of laws by Prussia and the other states stales of the empire wl which ch have served the purpose and stood the test of time I am sending my paper with a re request request request quest for comments to the members of the time American Bar association and to the thc great majority of names in the di directory directory directory rectory of directors thus reaching thoughtful persons immediately In I touch with the situation The replies I 1 Continued on Page 2 LAWYER LA WYER CALLS CALLSON CALLSON CALLSON ON ROOSEVELT Continued from Page 1 already received indicate an Intelligent generous and critical interest and no doubt good fruit in the shape of sug suggestions suggestions suggestions will result At the th end of or the interview the pres ident said And now my dear deat sir fir I want to pay you a compliment I did not ex cx expect expect you to give me a single thing Instead of that you have given me mo sev Bev several Beveral eral practical suggestions In concrete form some of which are ar entirely new I shall shaIl study them with pleasure I Imay Imay Imay may say you will soon see them re reflected reflected somewhere |
