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Show TO CURE TRUST EVIL PLANS PROPOSED TO PREVENT FORMING OF MONOPOLIES. Governors' Convention at St. I.ouls Adopts Resolutions Presenting- Flans for Suppression Sup-pression of Combines. St. Louis, Sept. 24. The convention of governors and attorne3--generals which met here at the call of Governor Gover-nor Sayers of Texas, adjourned after adopting resolutions for checking monopolistic tendencies of trusts and combines. The meeting' was attended b' the governors or attorney-generals of fifteen stntes. The resolutions, which were adopted unanimously, are as follows: "We believe the best present available availa-ble remedies lie along the following lines: The enactment and enforcement br the several states and the nation of legislation that shall adequately and fully define as crime any attempted monopolization or restraint of trade in any line of industrial activity, with provision for adequate punishment, both of the individual or the corpora- to engage in business outside the state of their creation that they procur licenses from the foreign state as a condition precedent to their entry into such state, such license to be granted on such terms and subject to such restrictions re-strictions as will place the corporation subject to the same control, inspection, supervision and regulation as the domestic do-mestic corporation of that state, and subject to be revocable if the conditions condi-tions thereof are violated. "The enactment of state legislation declaring that a corporation created in one state to do business exclusively in other states than where created, shall be prohibited from admission into any state. This proposition is supported by decisions of the. Supreme courts of several states, but we believe it should become legislative enactment, uniform throughout the states. "That no corporation should be formed, in whole or in part, by another 1 corporation. "That no corporation shall own or hold any stock in another corporation engaged in a similar or competitive business, and that no officer or director direc-tor of a corporation shall be the officer or director or owner of stock in another corporation engaged in a similar or GOV. SAYERS OF TEXAS. Originator of the idea of holding a Governors' Convention to discuss the trust evil and agitate the question of uniform laws on the subject. tion, that shall be found guilty thereof, there-of, punishment to the corporation to the extent of its disolution. "The enactment by each of the states of the Union of legislation for the adequate ade-quate and proper control and regulation regula-tion of corporations, chartered by that state, and we recommend as efficacious a system of reports to and examination examina-tion by state authority of the corporations corpora-tions organized under its laws, to the end that they may be brought to a fair observance of the laws under which they are created. "The enactment by each state of laws that will prevent the entrance of any foreign-created corporation iuto its limits for any other purpose than inter-state commerce, except on terms that will put the foreign-created corporation cor-poration on a basis of equality with the domestic-created corporation of the state entered, and subject to the same laws, rules and regulations of the state that it enters, which are applicable applica-ble to the domestic corporations of that state, and to this end we recommend recom-mend legislation that would make it mandatory upon corporations seeking competitive business, the object or result re-sult of which is to create a trust or monopoly. "By recognizing that trusts are usually composed of corporations, and that corporations are but creatures of the law, and can only exist in the place of their creation, and cannot migrate to another sovereignty without the consent of that sovereignty, and that this consent may be withheld when desired, we recommend as the sense of this conference, that each state pass laws providing that no corporation which is a member of any pool or trust in that state or elsewhere, can do business busi-ness in that state. "Resolved, That it is the sense of this conference that all the capital stock of private corporations should be fully paid, either first, in lawful money or second, in property of the actual cash value of the amount of the capital stock, and in all private corporations with a capital stock issued in excess of the amount actually paid up as above; provided, the shareholders shall be liable to the extentof twice the face value of the stack held by each." |