In the second half of his lecture on "The Federal Regulation of Corporations," yesterday, Mr. Henry L. Stimson spoke first on the drastic Sherman act of 1890, which by its broad scope and sweeping and inaccurate language attacked not the corporate evil alone, but the inevitable economic growth upon which it rested. To the Supreme Court was left the task of interpreting the law, and the Court, realizing the power which was placed in its hands, went slowly. So it was not until the famous "Northern Securities" case was decided that it was clearly seen how tremendous was the power conveyed by the indefinite terms of the act, for exterminating not only the evil in monopolistic corporations but also the corporations themselves.
The future trend of legislation can be partially determined by the inchoate acts which have been discussed in Congress within recent years, and at present the drift seems to be towards a federal control of monopolistic enterprises by means of federal or semi-federal incorporation.
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Work for Graded Crews Begins
