New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-03-20
AN ANTITRUST MEASURE.
THE HOUSE JUDICIARY COMMITTEE ~
PRODUCES A SWEEPING BILL
HAT-STIvE REPORT.

BE EQUITY OF a MIsDEMEANoR
- THE COMMITTEES EN-
HAUsrTvE REPORT.
Trenton March 10 (SpecaD.-The judiciary COM
mittee Of the house to-day Introduced 'he an
Trust bill which is aimed against the coal anu SIM
lar combinations. The bill Is accompanied ~
long report showing the thoroughness Of the WORN
Of the judiciary Committee. 1t is one oil Inc HUE
important, measures introduced this session
The bill was ordered a second leading w.thon'
reference The report accompanying the Dill was
read by Mr. Six nner. and the house adopted r'So-
luton directing that 100 copies be printed.
Tie full text OF the Antitrust bill follows:
TEXT OF THE MEASURE
An Act TO prohibit any contract. arrangement
agreement combination for the purpose .,
stainlng or preventing competition in the supply o'
price Of any article commodity in common US
in this State end regulate the pracmIfe IN ar
ceedings directed against any slGh contract q"
BE II enacted b. the senate and General Assem-
bly, OF the state Of New-Jersey: .a,..,f ,,at
Every person. corporation or officer tneIrol ,na.
shall make any contract. arrangemehi o' a., ak tho
mcnj. shall enter into any combination ~, i
purpose OF restraining or preventing c1p ,nii,v |
In the supply or Price q any al th intent to re-
strict or restrain trade or commerce IN ms go 49,
In this state pursuant - any sue" hraver
arrangement. agreement or communion ,rar IN
me same may be made. or shall N any iha'r.,, ~
this State engage or an ~ rd' r c,otrac, or
the agreements contained in any suGn nm
he deemed guilty OF a nisdcmeano:. lhe A'Io'n,s n
General may. in addition 10 ne powsr no, no" cour,
Of Chancery n the name AID in behalf Of the
trustees directors managers or other ON 'ets o' a
CORPORATION. against any corporauoh oit'sf ~
carrying out in this State any such contract ar
rangement, agreement or business wheir sncn ooit
tract arraLgement. agreement c'mbinat ON or pusl-
ness IS Threatened there is good reason to appre
hcnd that the same may be made. proNiu'u ma a.
any way deprivlng the Court Of Chancery Of any
jurisdiction II may ready have IN me pf'''ses soi
by the Attorney General under existing law :. p pr,
into anv such comb nation or making any such
contract. arrangement or agreement , ,,,Lc
such rules ana orders regulate the pleaf:ngs am
practice in proceedings Instituted foT me pnrp,5
Iansen,e h '5rimps and compel promp; answ
10 bills or nformations seeking discovery A" ~
mel sd,,nr ne ein1 M. aline Of an Information b
oS discovery direct the examination b"'oro h.rs"'i
or any one Of the Nce-Ch-ncel.orS. o. any p,tSuH
whom IS alleged may posses nio Io Sop 'sm
disbursements asresment or @ iii l az ana
papers tending to establish the eNistencr OF any
such contract. arrangement agreement OF o'"'''"'
No bill or information filed by the Attorney,Gfen-
eral under the provision OF this act or asK.ht loi
an injunction TO restrain action under any aIer,i
illega. contract. arrangement. agreenrnl OF roH"'
am matter OF form. but the Auorney-General may
state the case a he shall dem rfoP'r ann 1 ,i
amend inc pleadngs in such manner A. seems best
calculated to attain the results sought ~ ''e III
W acts and part Of acts inconsistent, herewith
are repealed. and this act snail TAKE e''''' ""'''
atey.
HOW THE BILL ORIGINATED
The report on the work intrusied to the judiciary
Committee By the terms Of the resolution Offered
bv the Committee on Railroads and 'anals on
February i. and which accompanied the Bill is
valuable document 10 corporations
E,tA Mr. Hogan - Essex. and Nj Bullock %
Passac. Offered resolutions early IN me session
which were directed against an alleged combination
OF railroad companies having Tor rs on1-c' in' az
vancemani Of the price OF coal oi limiting IN" OUT
nut These resolutions were referred 10 ne Ran
o,ed 1r' oferng res"iniion requesting the JuIlc
airy Committee 10 prepare oiil MAKING I'M" ~ a.
were 10 the derlment Of the people. and 10 give me
proper officers OF the state any anl.u.na. po"etI
necessary TO prevent the contamination oi any s"'n
Tbe chairman % the judiciary Committee. Mr.
Skinner realizing the grea' Importance % IN"
work ntrusted 10 H. first secured ron "t9t-
ney-General r. r. Hancock OF Nr%-l 2'h' tne
antitrust bills introduced In the New OK leEls-
.f.er consultations with ATTORNEY General stock
ton and thorough examination OF tho N."-Jer-
While the laws ALREADY the books We're ample
~ nroh Ia, combinations 10 prevent competition In
the necessaries OF lie the difficulty was In en-
In answer TO A question as TO whether or not the
New-york law Wa sufficient 70 prevent comp'n5-
yis~1 chairman skinner iAat a combination or
consniracv the object 81 which is 10 enhance the
price OF a necessity OF lfe by limiting the output.
ard thereby creating an artificial scarcity. Is an
offence against the common law, ana niictab!e az
such"
MEMBERS or TRUSTS ARE INDlCTABLE.
The Attorney General quoted at length from the
Chancellors decision smashing the famous 'coal
combine" ana he concludes that u Is both
common-law and statutory offence. punishable
by fine or imprisonment, for individuals to make
such combinations. But against corporal ons en-
gagged in such Illegal transactions the remedy in
this state has been appeal 10 the Court Of Chan
Gerry to restrain the company from the performance
OF any such agreements or combinat ons." General
Stockton advised the committee that an act similar
| TO the NeW-York law would simply have the effect
Of rendering corpora tons liza BILE 10 be indicted
its officers and agents are. for the commission
of the offence described ! do not think much
practical good would result from its passage. The
Attorney General harm in the act. pro-
| vded II did not interfere with the powers OF the
/ Court Of Chancery. He also said that while the
courts had ample power now. the difficulties arise
when the attempt is made TO procure the necessary
| evidence begin proceedings.
The direction In which ! should move to faci-
tate proceedings asainsl corporations and their
officers engaging In such Illegal combination. said
the Attorney General" would be 10 cothc the Court
OF Chancery with power to make such rules az would
expedite the proceedings ana enforce prompt an
swers to bills or informations seeking discovery and
satisfactory. powec might he given TO the Chancellor
and Nice-Chancellor at an early stage u the TO
/ examine such persons "a were supposed 10 have
knowledge of the illegal transactions complained
THE COMMITTEES REPORT
! In It's report the committee concludes that the
opinion OF the AttorneyCieneral may he sum
married. in the following manner:
Il A combination such rs Is Described in the above
resolution L. "a offence against The common law and
law of this State. 1T is also within the juris
diciion The Court Chancery restrain any such
combination. The only deficiency In the existing
law Is that II l. not an offence for which cornora-
ton may he indicted
20 That II Is not within the power OF the Legs
lature to confer upon the Attorney General such
powers OF Investigation and summOning witnesses
4 is contemplated in The resolution offered by Mr.
Hogan and that n Is doubtful II the Legislature has
the power u appoint committee OF investigation
such as Is contemplated by the resolution offered
by Mr. Bullock 1t Is The province o; the courts to
make such investigation.
/ oh N. nd IA