Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-09-17
TO CONTROL TRUSTS
DETAILS OF REPRESENTATIVE
LITTLEFIELD's PLAN.
Bill to Be introduced in the House
Next Session-Managers Must
Testify.

A Boston paper publishes what purports
to be an authoritative forecast Of the Lit
tlefield antitrust bill, and which. It Is de-
clared, has been Endorsed by President
Roosevelt. and will be introduced in the
House early In the next session. 1t Is
stated that both Attorney General Knox
and Representative Littlefield pointed out
to the President that the great trouble with
ANTITRUST legislation up to this time Is that
persons have been unable to prove the in
side workings Of the trust. They both-rec-
ognize that II anything is to be done 1t
must be possible to get at the big men.
Yet, 1t is stated, how can the big men be
brought to testify against themselves when
the Constitution says that no man is to be
convicted upon his own testimony, and that
he shall not be compelled In any criminal
case to be a witness against himself.
Compelled to Testify.
The plan for getting around this consti-
tutional bar is the following:
''In all prosecutions. hearings and pro-
ceedings no person shall be excused from
attending and testifying. or from producing
books, papers, contracts. agreements and
documents before the courts Of the United
States or the commissioners thereof, or In
obedience to the subpoena of said courts or
commissioners, on the ground or for the
reason that the testimony or evidence, doc
umentary or otherwise, required or him
may tend to criminate him or subject him
to a penalty or forfeiture: but no person
shall be prosecuted or subjected to any
penalty or forfeiture for or on account OF
any transaction. matter or thing concern
ing which he may testify or produce evil
dence."
The man who sues a trust and has the
facts behind him that will prove that
he has suffered damages from the opera
ft0nq Of which works In re-
straint Of Interstate trade or commerce, Is
To receive three times the actual amount
Of the damage suffered.
To have all his lawyers fees paid by the
trust.
To have tho trust pay all other expenses
Of the suit. including the court costs.
Method Of Procedure.
Any man who has q good case against
the trusts can get the best lawyer In the
United States, and can summon witnesses
from anywhere within the jurisdiction Of
the federal government with the certainty
that the trust and not he is to meet all the
expenses incurred. He will know, also.
that he con summon the trust officials
themselves on the witness stand and prove
his own case by the testimony Of some man
who knows all the facts.
But the antitrust bill will go further than
that. and will attempt to hold shield over
any speculator who goes into the stock
poration engaged in interstate commerce
not merely the big concerns. like the trusts,
but practically every business concern
which fills orders outside OF the state In
which It's home ONCE Is located-ls to file
every year with the Secretary of the Treas
ury statement showing its name. date Of
organization, where and when organized.
giving statutes under which 1t Is organized,
and all amendments thereof: II CONSOLE
dated, naming constituent companies as
far as applicable: II reorganized the name
Of the original corporation or corporations.
with full reference to laws under which all
the reorganizations have taken place.
Details Given Publicity.
In addition, the statement must show
the amount Of used capital stock. shares
into which 1t is divided, par value, etc.;
amount issued and outstanding amount
paid in: whether paid In cash or property.
describing in detail the kind and character.
with it's cash market value at the time it
was received in payment, giving the ele-
ments upon which said market value Is
based; statement Of assets. specific and
circumstantial; total earnings and incomes,
operating expenses, interest, taxes mainte-
nance, permanent improvements. net earn
ings and dividends declared, and other de-
tails, even to the salaries of official and
wages of employees.
Any official, who makes or causes to be
made, a false statement, or prepares or
causes to be prepared, any incorrect fig
ures, shall be guilty of perjury suborna-
ton of perjury. The object Of these re-
turns is not simply to protect the stock
holder or bondholder, but to get after the
supposed policy Of "capitalizing earnings"
To carry out this feature Of the program
there Is to be imposed a tax Of l per cent
per annum on all capital stock issued and
outstanding Of any corporation engaged in
interstate commerce whose outstanding
capital stock is not fully paid in cash or
other property at Its cash market value. or
whose capital stock Is based wholly. or in
p or directly indirectly, during any
of its development, upon the capt.
t ION of earnings, earning capacity or
Or.