The Montgomery advertiser., 1902-12-06
PROVISIONS OF THE ACT
Corporations Capitalized at Less than $50O,000
 Not Affected.
Interstate Commerce Commission to Supervise the Amalgamations, and Attorney General Must
 Begin Suit at Its Behest.

Washington, Dec. 5.-The subcommittee of the House Judiciary Committee. to which was referred antitrust bills, re- ported favorably to the full committee today on MT. Littlefeld's bill authorizing full publicity of the affairs of the com mercial combinations with amendments
 Acting Chairman Jenkins of the Judi ciary Committee appointed a sub-com- mittee today consisting of Representa- lives Littlefield CMe). Overstreet und). Powers (Mass.), DeArmond (Mo), and Clayton QAla.) to which all antitrust bills, including the publicity bill, have been referred. A meeting of the commit tee is called for tomorrow morning
 The publicity bill, as amended, provides that every corporation, joint stock com pany or similar organization engaged in interstate or foreign commerce and every such corporation which shall be hereaf- ter organized shall file with the Interstate Commerce Commission on or before Jan nary each year the terms. stating among other things its name, date of organiza- tion, where and when organized, the status under which organized and when consolidated, the names of the constituent companies and the same information con- corning them.
 Explanation of Stock.
 1T the concerns nave DSSu IcOt SdiiiAOeA the original corporation or corporations Is to be stated with information concern ing them It also provided that the amount of authorized capital stock shares into which divided, par value, whether common or preferred and distinction be- tween each, amount issued and outstand- ing amount paid in-how much, if any paid in cash and how much, if any, in property-and if paid in property de- scription of cash market value of the property at the time it was received tr payment shall be stated. The indebted ness, its nature and for what purpose in cured is to be given, also statement oi the stock at their market value giving the elements upon which the market value is based.
 It is also required that the total earnings and income. operating expenses, interest, taxes, permanent Improvements, net earn ings, dividends declared, with rate and date during the year preceding the first of the preceding July, salaries of officials and wages of employees be disclosed.
 Shall Answer on Oath.
 It. provides further that the officers of the concerns affected by the bill having the requisite knowledge shall answer on oath all inquiries that may be made in writing under the direction of the Inter- state commerce COmmlSSlOn TeldIlVe IC it's financial condition or its capital stock Such answer Is not to be used as evi- dence against the pe1son making it ex- cept in prosecutions under the proposed act.
 A tax of one per cent per annum is i'm posed 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 provision is made for collecting the tax.
 Any concern contemplated in this bill failing to make the return as required under this bill and any concern failing to pay a tax imposed is to be restrained on the suit of the United States from en- ss ging in interstate or foreign commerce it is made the duty of the Attorney-Gen. eral, at the request of the Interstate Commerce Commission, to enforce the provisions of the proposed act and suit may be brought in any district court oi 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 ant publish a statement showing a list of cor porations and disclosing their condition
 The bill does not apply to any concerr the amount of capital stock of which doe' not exceed $500,0O0.