Peninsula enterprise. [volume] (Accomac, Va.) 1881-1965, 1888-09-08
TRUSTS MUST GO.
An Effective Method of Deal
ing with Such Combines.
Forfeit Their Property-A Proposition
to Crush Them Out by Force
of Law,

A bill to suppress trusts, introduced IN the
Senate, proposes the seizure and forfeiture
of oil shares of stock and all property used
in the furtherance of tho purposes of n trust.
Another new feature is the provision of the
last section that, in any action at law or suit
in equity in the United States courts, the
fact that any person interested in the prose-
cution of the case is member or agent of
trust, or that the cause of action grows out
of some transaction of trust, may be
pleaded in bar or in abatement The fol-
lowing is synopsis of the BILL
By the first section all arrangements,
contracts, agreements, trusts or combina-
tions between persons or corporations or
between persons and corporations made with
view or which tend to prevent full and
FREQ competition in the production, manu-
facture or sale of any article of domestic
growth. production or manufacture or IN
the importation of any. article produced or
manufactured i'll q foreign country or IN the
safe of any article imported into the United
States or which tend to advance the cost to
the consumer of any such articles, or which
tend 10 create any restriction upon interstate
tra,ie or any importation or expectation. or
which tend to limit Or reduce the production,
manufacture or sale or to increase or reduce
the price Of any article of growth, produc-
ton or manufacture that enters into t:nde
between the States and Territories or which
tend TO create monopoly are declared to DO
unlawful combinations aud to be against
public policy, unlawful and void.
The second section provides that any per-
SON entering into any such combination OH
his own account or as agent for another or
as mn officer, agent or stakeholder of any
corporation or as O trustee or c)nlmtt 9. Or
IN euy capacity whatever, shall be guilty OF
n HIGH mislemeanor and be subject to n fin.
of from 81 900 to $4,000 or imprisonment
from one to five years or both, III the dscre-
ton of the court.
Section 5 provides that all shares Of stock
and all rcnl and personal property belonging
to any such unlawful combination or to any
of the parties thereto which may be placpd
i'm trust or used in furtherance Of the pur-
poses of any such unlawful combination,
together with all articles of property grown,
uroiuced, manufactured. imported, held or
kent for sale to advance the purposes thereof
snail he forfeited to the United States aud
liable to seizure.
Section makes it tho duty of customs
officers to seize ard secure shares OF stock
and real and personal property made liable
to seizure by the bill, and provides that the
same proceedings shall be had for the seizure,
condemnation and sale thereof as in cases OF
seizure of property under the revenue laws.
section 5 provides that out Of the proceeds
of such sales there shall be paid:-Fif.t nj.
costs OF seizure, condemnation and sale;
second. claims of the United States for
duties or taxes third, liens for State taxes
and use ;sments; fou, tn, unpaid Judgments
against parties convicted as parties to such
unlawful combinations; fifth, claims proved
in favor of persons injured by means OF such
unlawful combinations. Of the balance one
half is to he paid into the United States
Treasury and the other half distributed to
the parties interested.
Section 6 authorizes any person or cor.
poration injured or damaged by such unlaw-
full combination to sue for and recover
doublo the amount of damages suffered.
Any one of the parties to such combination
may be made defendant in such suit.
Section provides thot the purchase of
merchandise or commodities in any foreign
country for sale in this country or IN any
State or Territory by any such unlawful
combination or its agents shall constitute
violation of the act and subject the offender
to the penalties prescribed.
Section prescribes that when any action
at law or suit in equity shall be commenced
in any United States court it shall be lawful
in defense thereof to plead in bar or abate-
ment that the plaintiff, complainant or any
other person interested in the prosecution OF
the case is n member or agent of such
combination as the bill declares unlawful,
or that the cause of action grows ont OF such
O combination or out Of some business or
transaction thereof.