Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-12-06
THE PUBLICITY BILL
Provisions of the Anti Trust Measure
Reported to Judiciary Committee.

Provisions of the Anti Trust Measure
Reported to Judiciary Committee.
Washington, Dec. 6.--The publicity
bill as amended provides that every
corporation, joint stock company or
similar organization engaged in inter
state or foreign commerce. and every
such corporation which shall be here
after organized, shall file with the in
state commerce commission on Or
before September ! each year, re-
turn, stating among other things its
name, date of organization, where and
when organized, the statutes under
which organized, and if consolidated,
the names of the constituent compan-
les and the same information concern
ing them. If the concerns have been
reorganized the original corporation
or corporations is to be stated, with in
formation concerning them.
1t also provides that the amount Of
authorized capital stock, shares into
which divided, par value, whether
common or preferred, and distinction
between each, amount issued and out
standing, amount paid ir-how much
1 IL any, paid In cash, and how mach, sif
any, in propnisy, and II paid in prop
erty, 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, lis to be
given; also statement of the assets
/ at their present cash market value,
giving the elements upon which the
market value is based.
1t also is required that the total
earnings and income, operating ex-
penses, interest, taxes, permanent i'm
lprovements, net earnings. dividends
declared, with rate, and date during the
year preceding the first of the pre-
ceeding July, salaries of officials ane
wages of employees be disclosed.
1t is provided further that the treas
urer or other officer Of concerns af-
fected by the bill, having the requisite
knowledge. shall answer on oath all in
quiries that may be made in writing
under the direction of the interstate
commerce commission relative to its
financial condition or to it's capital
stock. Such answer is not to be used
as evidence against the person max
ing 1t, except in prosecutions under the
proposed act.
tax of ! 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
full cash market value, and pro-
vision is made for collecting the tax
Any concern contemplated in this
bill failing to make the return as re
quired under this bill and any con-
cern failing to pay tax imposed is to
be restrained on the suit of the United
States from engaging in Interstate O,
foreign commerce 1t is made the duty
of the attorney general at the request
OF the interstate commerce commission
to enforce the provisions of the pro-
posed 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 statement showing a list
of corporations and disclosing their
condition. The bill does not apply TO
any concern the amount of capital
stock of which does not exceed $780,
900.