Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1902-02-13
INDUSTRIAL REPORT.
Commission Makes Public Some
More of its Recommendations.
INSPECTION OF BIC CORPORATIONS.


-loIiu MOuiucHtlOn3 ITOtoCt Ou VI
the Consumer vt Home.
Washington, Feb. 1O.-The second
part Of the report Of the industrial
commission was made public yester-
day. 1t covers manufacturers and in
dustrial combinations and in its rec
concentrations quotes from its report
to congress in 1900, in which it then
recommended:
That the promoters and organizers
Of corporations or industrial combina.
tons which look to the public to pur-
chase or deal in their stocks or Sc
curities should be required to furnish
full details regarding the organiza-
ton.
That any prospectus or announce
ment of any kind soliciting subscrip-
tons which fails to make full dis
closures as aforesaid, or which il
false, should be deemed fraudulent,
and that all information concerning
the corporation should be open to in
vestors, and that the larger corpora
tions-the so-called TRUSTS should be
required to publish annually a prop
erly audited report showing in rea-
sonable detail theh assets and La
bilities, with profit or loss; such re-
port and audit under oath to be SUBJ
ject to government inspection.
In addition to the above the com
mission now recommends:
That district attorneys of the
United States be authorized and d.
rectcd to institute proceedings for
violations of the federal antitrust
laws.
That the combinations and con-
spiracies, in the form of trusts or
otherwise, in restraint Of trade or
production, which by the concensus
Of judicial opinion are unlawful,
should be so declared by legislation
uniform in all jurisdictions, and as to
all persons, and such statutes should
be thoroughly enforced.
That stringent laws be enacted by
the congress and the several state
legislatures, making both penal and
criminal the vicious practice of dis
eliminating between customers and
cutting rates or prices in one local
ity below those which prevail gen.
orally, for the purpose of destroying
local competition; and that such
laws should give to any person dam
aged the right to sue for and recover
prescribed penalties, and make it the
duty of prosecuting officers to pro-
coed against the offenders.
That to prevent over capitalization,
the several state legislatures enact
laws similar to the anti-stock water
ing laws of Massachusetts.
That there be created in the treas
ury department a permanent bureau.
the duties of which shall be to regis
ter all state corporations engaged in
interstate or foreign commerce.; to
secure from such corporations all re.
ports needed to enable the govern.
ment to levy a franchise tax with Ger.
tainty and justice and to collect the
same; to make such inspection and
examination of the business and ac-
counts of such corporations as will
guarantee the completeness and &C.
curacy of the information needed to
ascertain whether such corporations
are observing the conditions pre-
scribed in the act and to enforce PEN
alties against such combinations; and
to collate and publish information re-
garding such combinations and the in
dustries in which they may be en-
gagged, as to furnish to the con-
gress proper information for possible
future legislation.
That, if department Of commerce
and industry shall be established, one
Of its functions should be to call at
tention from time to time to such
economic changes in the worlds prog
ress as may suggest tariff modifca-
tons.
That, in view of the extent and per-
lection of our manufactures, Of our
growing export trade and the sharp
competition 1t. encounters in foreign
markets, of the practice by some ex-
porters Of making lower prices abroad
than at home and Of the desirability
Of protecting the consumer as well al
the producer, without awaiting legis-
lation, the congress provide for q
commission to investigate and study
the subject.
.