Evening journal., 1897-03-17
TWO ANTITRUST BILLS
They Are introduced In the New
York Legislature.

WILL MAKE M0N0POLIEs ILLEGAL.
ono Biu Similar 10 That OF Assembiyman
Robbins, which Failed 20 become a
Law Last Year-Foreign Combines Made
liable Under tho Proposed Statute.
ALBANY, March lit remained for
Charles u. Lincoln, the legal advisor OF
Governor Black, to draw tho antitrust
bills for the recent trust investigating
committee. The bills have been introduced
in the senate and were made q special or
der for discussion in the senate tomorrow.
The most important IS a sort of para.
phrase Of the Robbins antitrust bill OF last
year, which failed to become law IL de-
clares to be against public policy and ille-
gal and void any of these things:
Every contract agreement, arrange
ment or combination whereby a monopoly
in the manufacture or sale in this state Of
any article or commodity Of common use
IS or may be created, established or main
tained, or whereby trade or commerce In
this state in gny such article or commodi-
ty is or may be restricted or whereby com
petition IN this state in the supply OF pricO
of any such article or commodity IS or
may be restrained or prevented. or where
by for the purpose of creating, establish
ing or maintaining monopoly within
this state Of the manufacture, production
or sale Of any such article or commodity,
the free pursuit Of any lawful business,
trade or occupation is or may bo restricted
or prevented
Provides Fine and imprisonment.
4I.,.-, q. g.
by an individual the penalty is 1000 fino
and a years imprisonment, and If by a
corporation a fine of $4,000, 50 that the
individual gets the worst Of 10. The attor-
ney general is authorized to bring suit to
restrain persons or corporations from do
ing those Illegal acts.
Then follows theprocednre under which
the attorney general must act I'm order to
get evidence on which to begin a glit. He
must apply to 10 justice OF tho supreme
court at Albany OF in the judicial district
in which the person wanted resides and
the court shall issue an order for the ex.
animation either before tho justice or a
referee. The examination shall be con-
Quoted under the rules OF civil procedure,
and the witness shall not be excused from
testifying or producing his books and may
be punished for contempt.
In view of the fact that this inquiry is
not a suit, but for the purpose Of getting
facts on which to base q suit one is struck
with the safeguards this bill throws
around the suspected monopolies the at
torney general is cunning for.
As to Foreign Corporations.
Tho other bill requires the filing by for.
eign corporations doing business in this
state OF elaborate annual reports, The pro-
visions being similar to those of the law
of Massachusetts. 10 compels corporations
TO keep a stock book containing tho names
Of all stockholders, which shall be open
during business hours TO stockholders and
Judgment creditors, and makes officer.
and stockholders Of foreign corporations
/ liable, the same as officers and stockhold
ers Of domestic corporations arc liable, fol
these olfonses:
.First, the making Of upauthorized div
idends; second the creation Of unauthOr
lied and excessive Indebtedness; third
unlawful loans to stockholders; fourth
making false certificates. reports or publil
notices; fifth, all Illegal transfer OF thl
/ stock and property of such corporation
I when 10 is insolvont or SIS solvoncy j.
threatened; sixth, the failure 10 pay il
full the whole amount Of the capital stoch
{ of any such corporation and failure to m,
an annual report seventh, such liabilities
may be enforced in the courts of this stat,
in the same manner as similar liahilitie.
/ imposed by law upon the officers, director.
and stockholders of domestic corpora
tions "
Tho Republican members arc not YET
/ willing to discuss the bill, and an effor
may be made to make them caucus meas