North Carolina Newspapers

-ziot Message of President aft L " (Continued-from page 6.) land restored competition between the large unttfrfnto -which the capital and jplant bare been divided we shall have accomplished the . useful purpose of ithe statute.---... - -, 'Confiscation Not the Purpoee of the ' ? 1 f.-.tatutv It la not the purpose of the atatnte I to confiscate the property and capital I of the offending trusts. Methods of punishment by One or imprisonment j of the individual offenders, by One of the corporation or by forfeiture of its goods in transportation are provided, but the proceeding in equity is a spe Iclflc remedy to stop the operation of the trust by injunction , and prevent the future use of the plant and capital in violation of the statute. Ettaotlvsneaa of Deere. ' , I venture to say that not in the his tory of American law has a decree more effective for such a purpose been entered by. a court than that against the tobacco' trust v As Circuit Judge Noyes said in his Judgment approving the decreet; , , "The extent to which it hae been necessary, to tear apart this combina tion and force it Into new forms with the attendant gardens ought to demon strate that the federal anti-trust statute la a drastic statute which accomplishes I effective results, which so long as It stands on -the statute books must be obeyed and, which cannot be disobey ed without Incurring farreachlng pen- " But new that tha enta-frawt aot fa eeen to be effective' for the p Henment f the purpose f ite enaotmant we are met by a ory from Ywany different auartere for Its repeal. It le said to be ebatruotlve of buainaae regreee, te be an attempt te reetere eld fashioned methode of daatruotlve eempetition between small unKa end te make Impossible these uaeful eombinatlana of eapttel and the reduotlon ef the coat of preduotion that are eeaential to eentinued preeperity and normal growth. laities. .And,. the other hand, the ! successful -reconstruction of thts or ganisation should teach that the effect of enforcing this statute to not to de stroy, bnt to reconstruct; not to de molish, bat to recreate In accordance I with the conditions which the congress lhas declared shall exist among the ! people of the United States.",, n , ! Common 8took Ownership. It has been aasumed that the pres ent pro rata and common ownership In all these, companies Dy former ttock jholders of the trust would Insure s contmuancef the same old single con trol of all the companies Into which 'the trust has hj decree been disinte grated, irbla is erroneous and ia based upon theiutned lnefficacy and tnnoc- uousness of Judicial Injunctions. , The 'companies are enjoined from co-ope ra tio a or combination; they have differ ent managers,' directors, purchasing -and sales agents. If all or many of the- numerous stockholders, ' reaching Into the 8Btotaudi,-anemptrt5'Ucure concerted action of the companies with a view to the control of the market their number Is so large that such an attempt conld not well be concealed, and Its prime movers and all lte Mrtic- 1 pants would be at eetce subject to con tempt- proceedings and Imprisonment of a summary character! The Immedl ate result of the present situation will necessarily be activity by all the com , pun tea Under different managers, and then competition most follow or there will be activity by one company and stagnation by another. Only a short time win Inevitably lead to a change In ownership of the stock, as all op portunity .for continued co-operation must disappear.- Those critics who speak of this disintegration in the trust as a mere change of garments have not . given consideration io the inevitable working of the decree and understand little the personal danger of attempt ing to evade or set at naught the sol emn Injunction Of a court whose object Is made plain by the decree and whose Inhibitions are eet forth with a detail and comnrebenslveneaa unexampled In the history of equity jurisprudence. .Voluntas'- Reorganisations ef Other , a' Truate at Hand. , The effect of these two decisions has led to defiles dissolving the combina tion of manufacturers of electric lamps, a southern wholesale grocers' association, an : Interlocutory decree against the powder trust, with dlrec- i tiona by the circuit court compelling dissolution, and other combinations of a stmllar-'bistory are now negotiating with the department of justice looking to a disintegration by decree and re- 'orgitnlzatloa In accordance with law. It seeina possible to bring about these reorganizations- without general busi ness dlstnrbancok , , Movement For Rapeal ef the Antl j - -itruat Law. . . Rut cow fTist'the anti-trust act Is seen to be effective for the accomplish ment of the purpose of Its enactment we are met by a.cry from many differ ent quarters forjta repealv It Is aald to be obstuui,va,of business progress, to be an attempt to restore old fash ioned methods of destructive competi tion between small nntts and to make Impossible those useful combinations of capital ao.l the reduction of the cost of production that are essential to eou- tinned prosperity and normal growth, i In the recent decisions the supreme court makee clear that there la noth ing In the statute which condemns 'Combinations of ranlhil or mere t"j tie of i t rrnanlied to secure econ omy u ; ' i i -.n end a rmluction of Its cost It ia willy when tha purxe or nece-'xtry effwt of the orstinliuttioa and niiiluteimu of the combination or the ? .v- ;!. ef Immense s!-e are the stifling of roinprtUlon, actual and potential, ! the enhancing of prices and eMii!!.i i,liiu a monopoly that the t;it ite sin skmi tv or t ly eiiiuii T'CI't tii tioll 1 I 1 1 ' V w i U Vl,i: ir-t ti.e ted. In w. Mere sl.e The nif- r ! iil re. :) I:, tWC n,t thla fi 'I t't !' e t ,1 li I la do n tin mhsa f r and enhance prices and create a mo nopoly, f. ' y .. Lack of Definitenoae In the Statute. The complaint Is made ot the- stat ute that It la not sufficiently definite In its description of that which Is for bidden to enable business men to avoid lot violation. The suggestion Is that we may have a combination of two corporations which may ran on for years and that subsequently the at torney general may conclude that it was a violation of the atatute and that which waa supposed by the combiners to be Innocent then turns out to be a combination in violation of the statute. The answer to this hypothetical case is that when men attempt to amass such stupendous capital as will enable them to suppress competition, control prices and establish a monopoly they know the purpose of their acta. Men do not do such a thing without having it clearly in mind. If what they do is merely for the purpose of reducing the cost of production, without the thought of suppressing competition by use of the bigness of the plant they are creating, then they cannot be convicted at the time the union is made, nor can they be convicted later unless it happen that later on', they conclude to sup press competition, and take the usual methods tor doing so and thus estab lish for themselves a monopoly. They can In such a case hardly complain If the motive which subsequently is dls- closed la attributed by tha court to the original combination. - New Remediee 8uggeeted. Much la said of the repeal of this statute and ot constructive legislation intended to accomplish the purpose and bias a clear path for honest mer chants and business men to follow. It maybe that sncb. a plan will be evolved, but I aubmit that the discus sions which have been brought out In recent days by the fear ot the con tinued execution of the anti-trust law have produced nothing but glittering generalities and have offered no line of distinction or rule of action as dell site and as clear as that which the su preme court Itself lays down in en forcing the statute. ; Supplemental Legislation Needed, Not i. -Repeal or Amendment. . I see do objection, and indeed I can see decided advantages, in the enact ment of. a law which shall describe and a enounce 'uethoda of competition which are unfair And are badges of the unlawful purpose denounced la the anti trust law. The attempt and pur pose to suppress a competitor by un dersetting him at trice so unprofita ble aa to drive bias out-of business or the making of exclusive contracta with customers- trnaer wrucn they are re quired To give up association with din er manufacturers and numerous kin dred methods for stifling competition and effecting monopoly uheuld be de scribed with tuSk-Ient accuracy In criminal statute on the one band to enable the government to shorten Its task by prosecuting single mlsdemean ors Instead of aa entire conspiracy and . The anti-trust act le the expreeaien ef the effort ef a freedom loving people te preeerve equality of opportunity It le the reault of tha eonfl dant determination ef auoh a people te maintain their future growth by ' prsaarving uncontrolled and unreatriotad the enterprise ef the Individual hie Industry, hie Ingenuity, hie Intelliganse and hie independent eourage. ' on the other hand to aerve the purpose of pointing out. more In detail , to the business community-whst must be avoided. ' : Federal Incorporation Recommended. In a apecial message to congress on Jan. 7, 1U10, I ventured to point out the disturbance to business that would probably attend the dissolution of these offending trusts. I said: "But such an Investigation and pos sible prosecution of corporations whose prosperity or' destruction affects the comfort not only of stockholders, but of millions of wsge earners, employees and associated tradesmen, must neces sarily tend to disturb the confidence of the business community, to dry up the now flowing sources of Capital from ks places of hoarding and pro duce a halt In our present prosperity (bat wDI cause suffering and strained circumstances among ' the innocent many for the fanlts of the guilty few. The question which I 'wish In this message to tiring clearly to the con sideration and dicu.lon ot congress Is whether, in orrir to avoid such a possible buslnosa dnper, something cunnot be done by Mch these busi ness combinations n aj be offered s means, without grt-at financial dis turbance, of changing the character, organization and extent of their busi ness Into one within the lines of the Isw under federal control and super vision.' securing compliance with the antl trust statute. "Centrally In the Industrial combina tions called trusts' the principal busl-m-M Is the sale of goods In many states ai.d Id forelitn markete In other words, the Interstate end foreign business far exceeds the business done In any !ie state. This fact will Justify the fed eral gorerninent In granting a federal charter to aurb a combination to make and sell In Interstnte and foreign com merce the product a of useful mannfne ture under em-li lltnllatloiie a l!l se cur a ciiM piliiii.'f' ith the antl tniM law. It In piwHihlS so to frame a slat nte that, IjII J It offers protection to a feleial company auslnt harmful, vex nth.u and n s.itry laemrion l-y t1 - I! i'I s-i'.v. t trt. r i,h - , i. , I I y i ! with respect to its purely local busi ness. -' ' J- ''. '! "Corporations organized under this act ahould be prohibited from acquir ing and holding stock In other corpo rations (except for special reasons, upon approver by the proper federal authority), thus avoiding the. creation under national auspices of the holding company with subordinate corporations In different states, which , baa .been ' It is said that the aot hae net done good. Can thla be said In the fao of the offset of the Northern Securities daereef . That deonse waa In, n way se draatie or Inhibitive in detail aa either the 8tandardOII daorae ar the tobaeoo deoree, but did it net atop for all time the then powerful movement toward the control of all the railreada of the oouratry in a aln- gle handf 8uoh a one man power eeuld net have been a healthful Influ enoe In the republlo, even though exeroiaad under the general leuparvlelon of an Interetate oommieaion. , sucb an effective agency in the crea tion of the great' trusts and monopo lies. - v-f A-;.v-"If the prohibition of the anti-trust act against, combinations in restraint of trade Is to be' effectively enforced It is essential that the national govern ment shall provide for the creation of national corporations to carry on a le gitimate business throughout the Unit ed States. The conflicting laws of the different states of the Union with re spect to foreign corporations make It difficult. If not Impossible, for one cor poration to comply with their require ments so as to carry on business In a number of different states." I renew the recommendation of the enactment ot general law providing for the voluntary formation of cor- porationa to engage in trade and com- merce among the states and with for-: elgn nations. Every argument wmch waa then advanced for such a law and every explanation which wad at that time offered to possible objections has been confirmed by our experience since the enforcement of the anti-trust stat ute has resulted In the actual dissolu tion of active commercial organiza tions. -- -i-:..!-.-v- .' It Is even more manifest now than it was then that the denunciation of conspiracies in restraint of trade should not and does not mean the de nial of organizations large enough to be intra, ted with our Interstate and foreign trade. It hae been made more clear now than It was then that a purely negative statute like the anti trust law may well be supplemented by specific provisions for the building up and regulation of legitimate na tional and foreign commerce. Government Administrative Expert .i Needed te Aid Courts In Trust ' Dissolutions. u The drafting of the decrees In the dissolution of the present trusts, with a view to their reorganization Into le gitimate corporations, baa made It es pecially apparent that the courts are not provided with the administrative machinery to make the necessary In quiries preparatory to reorganisation or to pursue snch Inquiries, and they ahould be empowered 'to Invoke the aid of the bureau of corporations in determining the ' suitable reorganiza tion of tha disintegrated parts. -The circuit court and the attorney general were greatly aided In framing the de cree in the tobacco trust dissolution by an expert from the bureau of corpora tions. ,, ? ..-M . - '.f ,,J Federal Corporation Cemmlaaion Pro peaad. I do not set forth in detail the terms and sections of a statute which might supply the constructive legislation per mitting and aiding the formation -of combinations of capital into federal corporations. They should be subject to rigid rules as to their organization and procedure, including effective pub licity, and to the closest supervision as to the Issue ot stock aud bonds by an executive bureau or commission in the department of commerce and labor, to wblcn in times of doubt they might well submit their proposed plans for future business.' It must M distinctly understood that incorporation under a federal law could not exempt the com pany thus formed and Its Incorporators and managers from prosecution under the anti-trust law for subsequent 11 legal conduct, but the publicity of Its procedure and the opportunity for fre- queat consultation with the bureau or commission In charge of the tocorpora tion as to the legitimate purpose of Its transactions would offer it as great se curity against successful prosecuttosm for violations of the law aa would be practical or wise. 'v 8uch a bureau or commtssloa mfht well be Invested also with the duty already referred to of aiding courts in mo dissolution and recreation of trusts within the law. It should be an executive tribunal of the dignity and power tit the' comptroller of the cur rency or the interstate commerce com mission, which now exercises supervis ory power over important classes of corporations under federal regulation. The drafting of such a federal In corporation law would offer ample op portunlty to prevent many manifest erlls In corporate management today. Including Irresponsibility of control In the banda ot the few who are uot the real owners. Incorporation Voluntary. I recommend that the federal char tera time to be granted aliall he volttn tary, at least until experience jimtitlea mandatory provisions. Tha benefit to be derived from the operation of great bililtiesaes under ttie prm. charter would nt! nu t anxious to kc ! v ' . ! i t.. hi w. 0: ' tr I f 'tut ! I t. t a i. n of sii tin an lift t ,, f,t complain if their ftetlure is ascribed to unwillingness to submit their transac tions to the careful official scrutiny, competent supervMon and publicity attendant upon the, enjoyment ot such a charter. - ' Only Supplemental Legislation Needed. The opportunity thus uggested for federal Incorporation, It seems to' me, is . suitable constructive legislation needed to facilitate . the squaring of great Industrial enterprises to the rule of action laid down by the anti-trust law. Thla atatute as construed by the supreme court must continue to be the line of distinction for legitimate busi ness. - It must be enfooced unless we are to banish individualism from all business and reduce it, to one common system of regulation or control of prices like - that which now prevails with respect to public utilities and which when applied to all business would be a long step -toward state so cialism. . ; ; -, --t ' .?. ; Importance ef the-Anti-trust Act, The anti-trust act Is the expression of the effort of a freedom loving peo ple to-preserve equality ot opportunity. If la the result of tha confident deter mination ot such a people to maintain their future growth by preserving un controlled and unrestricted the enter prise of the Individual, his Industry, his Ingenuity, his intelligence and bit Independent courage. - For twenty years or more this stat ute has been upon the statute book. All knew Its general purpoee and ap proved. Many of Ite violators were cynical over Its assumed Impotence. It seemed Impossible of enforcement Slowly the mills ot the courts ground, and only gradually did the majesty of the law assert Itself. Many of Its statesmen-authors died before It be came a living force, and they and oth ers saw the evil grow which they had hoped to destroy. Now Its efficacy la seen; now Its power la heavy; now Its object Is near achievement Now we hear the call for Its repeal on the plea thnt It interferes with business pros perity, and we are) advised In most genera terms how by some other stat ute and In soma other way the evil we are just stamping out can be cured if we only abandon this work of twen ty years and try another experiment for another term of years. It to said that the act has not done good. ' Can thW b 7nn the face of the effect of tha Northern Securities decree? That decree- was In no way so drastic or Inhibitive in detail as ei ther the Standard Oil decree or the tobacco decree. But did It not atop for all time the then powerful movo- ment toward the control of all the railroads of the country In a single hand? Such, a one man power could not have been a healthful influence in the republic, even though exercised under the general supervision ot a a Interstate commission. - . Dj we desire to make auch ruthless combinations and monopolies lawful! When all energies are directed, not to ward the reduction of the cost of pro duction for the publlo benefit by a healthful competition, but toward new ways and means for making perma nent In a few hands the absolute con trol of the eondltlor.s end prices pre vailing In tha- whole Held of Industry, then Individual enterprise and effort will be paralysed and the spirit of commercial freedom will ba dead. WJL B. TAFT. The White House. Dec 8, 1U. : The Eerthly Faets. - A atory told of Lord Holt, who was lord chief Justice of England In the eighteenth century, shows what a dead ly enemy to wild superstition a sense of fact may be. A man presented him self to Lord Bolt and aaldi "A spirit came to me from the other world and told me that In your next case yon must enter a plea of nol pros" that Is, refusal to prosecute. Lord Holt looked st the man a mo ment and then smiled. - "Do yon believe that auch a message is wise for a human being to obey?" "It I absolute." "And do yea believe taat the messen ger bad a full knowledge ot the law of England "Tes, and of all law. - By following this heaven given advice yon will be doing Justice.1 " ' " "Well, you tell your meueenger if he comes again thst he should have aent Ms message to the attorney general. The lord Chief Justice of England nev er prosecutes, snd If the spirit knew snythlng. about the English law he would k&ow a simple thing like that" Tha litvantien ef the Plane. The honor of inventing the piano Is clamed by the English, the French and the Germans. Fattier Wood, an FnglUh monk at Rome, is anld to have been the real Inventor in 1711 snd to have manufactured one, wlilrh bt sold to Samuel Crli-pl, the author of "Vir ginia," from whom It waa porchaaed hy Falke Grevllie, though Count Carll claims the credit for linrtlinlemmed Chrlstlforle of Padua during hie etaj in Florence aotne three years late! (1714).' The French attribute the In entlon to a Part-ilnn named Marlua ho, they alleged, produce 1 in 1718 I harpsichord la wlik h I . ..ra hut been auliFitltntHd for tha o I pie. trumi or qulila. The German i int ti It, rM !!h J. C K.'h!,. -r nf !"ii. ho .'i (17171, ' -if 't rt-ii l-'- '- ef f tO 1 ' t '' 1 : f i i i '.' i ; ; 1. JL If youi hair is f aHing out, rough or scrubby, if it lacks tha ' beautdf ul lustre, you should use TO-BAC-TON. This wonder ful new Hair Tonic promotes the growth of luxuriant hair. It imparts ' fiourishftieti, renewed health- andr vitality t the scalpi -it i My - " " ' ' ;1J: vJLJ 1(3 iiOuJ Th Crtatwt of jt ,jjfferent from any other hair tonic It contains no nlcohol or grease, which is injurious to the scalp. It ia principally made from the Juice of the tobacco leaf, which ia mcogniced by physicians as the most effective germi cide, TO-BAC-TON to eUitkttelly parhusaa. The ingre dients are snaudaHaf aad ksaltkiui. This wonderful Hair Tonic preveals Baldaess, eares DasorsB, all alseeaee el eealp aa sukas aaaalital, Get a bottle today at your drug; store or ask rear tartar to give yon a TO-BAC-TON application. Yon can't loose cent because TO-BAC-TON Is laaraateea le give T-"tfirtifa For Sale at All Drug (teres at ' V. , " r t 2Sc, SOo er $1.00 Bottles. FRECt Our booklet, "The Indian Weed' '' , ' ; It tells you all about the care of the hair. ' ;. , ' TO-BAC-TDM KSNUFACTIS3ING CO; Kinston-Salea, H t Iet (JcorKo Do It. , ' Governor Woodrow Wilson' of New i Jersey, while campuigning strenuously in the interests of the democratic, can didntes, came to a small hostelry in Sussex county, In the northern section Of the stnte.. ,; ... The waiter hnndod the presidential possibility the menu card, but the uov- ernor, tired from the day's camuala-n- IiiK. pushed It away and said. ; 'Nlow, George. I don't, want to bother with that., Take It away and r out and get me a Rood dinner. Get me Dest you hae. That's all." : The waiter brought in the dinner which the governor ate. , As he was leaving the dining room , the, waiter said: "Mistah Wilson, It any o' yo' friends from down at Princeton what enin't rend neither come up this way you jest send 'em to Georee an' I'll take care o' ,'cm all rtsrht." From Norman K., Mack's National Monthly. The quicker a cold is gotten rid of tho lees danger from pneumonia and other rerlous diseases. Mr, 11, W. L. Hull of Waveriy, Va., says: "I (Irmlv believe. Chamberlain's Cough Heineily io ue upsoiutely tho best preparation on the market for colds.. I have recom- mcndel It to my friends and they all asroe with inc." Tor sale bv all dphhir. ..t , . ' : ' ,4 lleutcr tliewfHKi. Phone 1583. Cntiiv an iir Thmitn A tliiinl.le carrying a knife blade on the end has )ioen patented by u CuljfonAi juftto ,aid..'ni,plektmj (ryit. ha , ,t :J t i) . Christmas Advertising The! month of : December offers ad vertisers a golden harvest, a Thous ands of dollars are spent on gifts alone. This haeahs that many thousands of EXTRA DOLLARS are taken from their, hiding places and poured into the. coffers of wide-awake merchants. The: harvest : is ; GOLDEN, READY and RIPE. But he who . would reap must sow; ; N Holiday shoppers are ever alert for any timely suggestions which will ssistithem in:i solving the ever perplexing gift problem.. Advertisers who:are quick, to grasp the opportu nities offered .will surely reap success if - they use th(J " columns of The Ga-zettQ-New. i .We have i the PAPER whiclr reaches the PEOPLE who have the MONEY. . - - r If A tfnn "1 All Hair Tonic" asaariaat kair. . CHICHESTER S PILtS Ma S-fVV 1 ? n"r r rnr V ... sr a lor so years Liurwri M Beit. Safest A lm.a. lui.i u SOID BY DRUGGISTS EVERYWHERE Carolina Commercial School Pearl J Holman, Prln., Phone 914. G. Ij. Hnll, Ass't Prln., Phone Hit, Mrs. C. B. Campbell, IMn. ShorUiand , Dep't, Phone 1188. ... ' School at 6 Battery Park Place. Students may enter at any time. Single course $35 cash, $60 on time, combined, course.. $S0 cash,. $70 on time. . , . ' We are offering two go)d medals In Shorthand, one for the one making the highest speed and the other for -the best progress. Enter at 4nc If you wish to eater In the contest. . FOR SALE ' tl Lots and one 7 -room house near car line In West Ashevllle. Farm of 100 acres 4 miles from Ashevllle, near It. P.. Station. Also some nice residence in city. All at a bargain if taken at once. BKOOKS REALTY COMPANY. Kooma 401-410 Oates Bldg. . Vj? ? 1 Phone 1725. t-m ... 'H -'. tv.i -' -1 V t S' ! - - - el ft,:., . i I Notice is hereby given by the mayor and board of aldermen of the city of Ashevllle, as rcMuired by law, that tli'i city engineer has made a survey ami filed bin report in the office ot the cii; clerk, showing the amount ot work. done and the cost thereof in the mat ter of paving and otherwise, improviii;; College Purk Plucc, from Its intersec tion with Ouk street to Us Intersection with College street, in said city, nn, also showing tha imuie qf pacb abuu ting owner thereon, ttie number ci front feet of each lot and the pro rata share of cost of such street im provement to be assessed .against aia li real estate. . And notice Is . hereby further given that at the first regular meeting of the said board of alder men, to be held after the expiration of ten (It), days from this date. aki board ot aldermen wilt consider salit report and if. no valid objections e made thereto, the same will be adopt ed and approved by .said board ami the- liens and assessments of said street. Improvement wilt then become comj plete and operative. ... Ashevllle, N. C, November 25, 1911. I W. YOUNG, 249-10t City Clerk. : notice f, . Notice is hereby given, by the mayor and board of aldermen ef the city of Ashevllle, as required by law, that the, city engineer has made a survey and filed his report In the office of the city clerk, showing the amount of work done and the cost thereof In the mat ter of paving and otherwise Improving Arlington street from Its Intersection with Charlotte street to its Intersect tion with Purman avenue In eaid city. , and also showing the name of enrli abutting owner thereon, the number j of front feet of each lot and the pro rata share ot cost or sucn street im provement to be assessed against sucU real estate. And notice Is hereby fur-t ther given that at the first . regular meeting of the said board ot alder men, to- be held after the expiration if ten (10) days from this date, said board of aldermen will consider snlct report and If no valid objections be made thereto the same will be adopt ed and approved by said board ant the Hens and assessments of . sal,i : street Improvement will then becoini complete and operative. , Ashevllle, C Noyem.ber.25, 4Wi 1 4-iot ; i Jltr Cter$ . LOGAN MERCHANT TAILOR Legal Bldg. S Pack Square. Phone 191. " TRUNKS AND LEATHER - C00D3 -ts our specialty. Money to Joar on diamonds, watches, jewelry and anything of value. .. ; H! L riNKELSTEIN I Loan Office. 23 8,!IaiaStA if., Phonej 887. Ashevllle 1Z ; V 1 r !