New-York tribune., 1902-02-10
FOR THE REGULATION OF TRUSTS.
RECOMMENDATIONS OF THE INDUSTRIAL
COMMISSION TO CONGRESS-

Washington. Feb e-The second part Of the re-
port Of the Industrial Commission made public
to-day II covers manufactures and industrial COM
b.nations and in its recommendations quotes from
its report Congress in 1900 In which it then rec
nmmended:
That the promoters and organizers Of corpora
tons or industrial combinations which look to the
public 10 purchase deal in their stocks or securi-
tes should DC required TO furnish full details re-
garding the organization
That any prospectus or announcement Of any
full disclosures as aforesaid or which is false
should be deemed fraudulent. and that all informa-
uon concerning the corporation should be open to
investors, and that the larger corporationS-the SO
y properly audited report, showing in reasonable
Saetah their assets and liabilities with profit or
sect 10 government inspection
In addition to the above. the commission now
Recommends:
That district attorneys of the United States be
foE Violations Of the feoerai antitrust laws.
mat combinations and conspiracies IN the form
Production, which by the consensus OF. judicial
gso are g94wfq ~ m sn0qq 6e 80 decrea d Gg y
~ persons, and such statutes should be thorough
That stringent laws be enacted by the Congress
ana @ the several State legislatures. making both
or prices IN one iocaiitv below those which pre-
ssI generally for the purpose of destroying local
competition; and that such laws should give to
cover prescribed Penalties. and make it the duty
- prosecuting officers to proceed against the Of
That 10 prevent overcapitalization, the several
oldte legislatures enact laws similar to the anti
stoek watering laws OF Massachusetts,; also TO
provide for State supervision OF all public service
jrtss lcIs with power 10 recommend or regu-
ste rates for service and to pass upon the public
sec oesirabiity or exigency of any proposed new
That annual franchise tax be imposed upon
sA state corporations engaged In interstate COM
.le-ce calculated upon the gross earnings of each
corporation from its Interstate business; that the
re..stHau1n rate OF such tax be low. but that the
s9s oe gradually increased with increases in
That there be created in the Treasury Department
~ 20 register all State corporations engaged in
1or-slate or foreign commerce: TO secure from such
s..IIent 10 levy franchise tax with certainty and
ssoseSe and TO collect the same; TO make such in
epo,vsQon and examination OF the business and ac-
me penalties against delinQuents. and to collate
,.1 ,.a1 publish Information regarding such combina-
y.s and the industries In which they may be
,segeo 60 TO furnish to the Congress proper
''11gsllaation for possible future LEGISLATION.
L99sat g Department of Commerce and Industry
a. pe established OF ite functions should be
eban1ss sttentlon from time 10 time to such economic
fsrseses IN the worlds progress may suggest
NM. 6 Mgo ihcatons. and also 10 such commercial
q s-nlues as may suggest reciprocal legislation
tro.Ss.sa sefnents. and Furthermore TO any evils
wi cao 20 combinations which changes in the tariff
anal n view Of the extent and perfection of our
Eharp OF our growing export trade and the
et tie sStnpeIton IL encounters in foreign markets
prices ttacnce by some exporters OF making lower
Of ctoaa than az home. and Of the desirabiity
proyide .aHaitnE other legislation. the Congress
the slh,eeott commission TO investigate and study
eonceselons a. - report as soon as possible what
yantseess axxes or employment at home. what ad-
70 road may be obtained therefor. and also
essired.NN measures best suited TO gain the ends