Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1902-12-05
ANTI
TRUST BILL REPORTED.


Washington, Dec. 5--The sub-com-
mittee Of the house judiciary commit
tee 10 which was referred antitrust
bills. reported fayorably TO the fun
committee today on MIR, Littehelds
bin providing for giving publiclty 70
the affairs OF commercial comDlhauohS'
with certain amendments. a.,
Acting Chairman Jenkins, OF the ~
dietary committee, appointed SUI
committee today consisting OF Repre-
sentatlves LittleAeld, (Malne)' over
street and1. Powers. (Mass), Dear
mond MOI, and Clayton, (Aa) 70
which all antitrust bills, incluolns 'ne
publicity bill. have been relerISu; o.,
meeting Of the committee Is calisu 10
tomorrow. The publicity ON ~
amended provides that every coIpVnla-
ton, Joint stock company OF sln'iar
organization engaged In Interstate VI
foreign commerce, and every sucl' gu
poration which shall hereafter DC VI.
ganized, shall file with the inter state
commerce commission on OF pelole
sept. each year a return statlns
among other things It's name, GATE Oh
organization, where and when organ
ized the statutes under when organ
ICED and IL consolidated, the names OK
the constituent companies and the same
Information concerning them IL me
concerns have been re-organized the
original CORPORATION or corporations Is
70 BE stated with Information concern-
ing them -, ,,
II also is provided that the amount
of authorized capital stock, shares INTO
which divided, par value, whether com
mon or preferred, and distinction De-
tween each, amount Issued ana out
standing. amount paid inflow mucn,
II any. paid in cash. and how much, II
any In property, and If paid In prop
e,ty M The time IL was received in pay
mont shau be stated. The Indebted
ness its nature and for what purpose
incurred Is to be given, also STATE
ment OF the assets at their present cash
market value. giving the elements up
on which the market value Is based.
1t also Is required that the total earn
ings and income, operating expenses
interest, taxes, permanent improve
ments, net earnings, dividends declared
with rate and date during the year pre-
ceding the first of the preceding July,
salaries OF officials and wages OF EN-
ployes be disclosed,
Ii is provided further that the treas
urer or other officer Of concerns az
fected by the bill having the requisite
knowledge. shall answer on oath all IN
ouiries that may be made In writing
under the direction of the Interstate
commerce commission, relative to It's
financial condition or to It's capital
stock. Such answer Is not TO be used
as evidence against the person making
IL, except In prosecutions under the
proposed act.
A tax of 1 per cent per annum Is I'M
posed on so much OF the capital stock
Outstanding which is not fully paid in
cash or other property at It's full cash
market value and provision is made Tor
collecting the tax. 80,
ANY concern contemplated In this bill
failing 10 make the return as required
under this bill and any concern failing
to pay tax imposed Is TO be restrain
ed on the suit Of the United States
from engaging In Interstate or foreign
commerce. II is made the duty OF the
attorney-g general at the request OF the
Interstate commerce commission TO en- !.
force the provisions OF the proposed
act, and suit may be brought In any
district court Of the United States at
the election Of the Encouragement
where an offending concern has place
Of business.
Provision Is made that the Interstate
commerce commission shall prepare
and publish statement showing q list
of corporations and disclosing their
condition. The bill does not apply to
any concern the amount OF capital
took OF which does not exceed $500 0OO