The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1902-12-26
BIZ mR BldIY
House FavorabIy Reports a Meas
ure Against Trusts
IS A MOVE FOR REFORM
Business OF Commercial Combinations
Must Be like an Open Book-Trusts
Cannot Have secrets Prom the
PubIIe-DIm-s Provisions
- =

A Washington dispatch s-ys- The
subcommittee OF the house judiciary
committee 10 which was referred anti
trust bills has reported favorably to
the fun committee on Mr. Littleheld's
bill providing for giving publicity TO
the Affairs OF commercial combinations
with certain amendments.
Acting Chairman jenkins Of the
judiciary committee appointed a sub
committee consisting Of Representative
Littlefeld Of Maine. Representative
Overstreet OF Indiana. Representative
Powers Of Massachusetts,. Representa-
tive DeArmond OF Missouri and Repre-
sentative Clayton OF Alabama, to which
all antitrust bills. including the publ
city bill. have been referred
The publicity bill as amended pro-
vides that every corporation. joint
stock company or similar organization
engaged in interstate or foreign com
merce and every such corporation
which shall hereafter be organized
shall file with the interstate commerce
commission on or before September
each year a return. stating among 9TH
CT things. its name. date Of Organiza-
ton. where and when organized and
if consolidated. the names Of the con-
stituent companies and the same in
formation concerning them II the
concerns have been recognized the
original corporation or corporations is
to be stated with information concern
ing them
1t is also provided that the amount
Of authorized capital stock. shares into
which divided, par value. whether com
mon or preferred and distinction be
tween each. amount issued and out
standing. amount paid in-hOw much
II any, paid in cash. and how much, If
any. in property. and If paid in prop
erty. a description and cash market
value Of the property at the time IL
was received in payment shall be
stated.
The indebtedness. its nature and for
what purpose incurred is to be given,
also a statement Of the assets at their
present cash market value. giving the
elements upon which the market value
is based.
1t is also required that the total
earnings and income, operating eX-
penses. interest. taxes. permanent i'm
privements. net earnings. dividends
declared, with rate and date during the
year preceding the first Of the pre-
ceding July, salaries Of officials and
wages Of employees be disclosed.
It is provided further that the treas
urer or other officer of concerns af-
fected by the bill having the requisite
inquiries that may be made in writing
under the direction OF the interstate
commerce commission. relative 70 its
financial condition. of its capital stock.
Such answer is not to be used as evil
dence against the person making il, ex-
cept in prosecution under the pro-
posed act.
A tax Of 1 per cent per annum is
imposed on so much Of the capital
stock outstanding which is not fully
paid in cash or other property at its
ful cash market value. and provision
is made for collecting the tax
ANY concern contemplated in this
bill falling to make the return as re-
quired under this bill. and any con-
Germ failing TO pay a tax imposed Is
TO be restrained on the suit OF the
United States from engaging in inter
state OF foreign commerce 1t is made
the duty Of the attorney general at the
| request OF the interstate commerce
mcommission to enforce the provisions
| Of the proposed act. and suit may be
| brought in any district court Of the
United States at the election Of the
| attorney general where an offending
concern has a place of business
] Provision is made that the interstate
! commerce commission shall prepare
and publish q statement showing q
! list OF corporations and disclosing
] their condition The bill does not ap-
Q ply TO any concern the amount Of cap
; ital stock Of which does not exceed
/ 100000.