The Washington times., 1903-01-02
HOAR ENDS LABORS ON
ANTITRUST MEASURE
Administrations Bill Ready
for Legislators.
PUBLICITY IS a FEATURE
Plan Tor Regulation Of Corporate En-
terpises VIII Be Placed on Senate
Calendar Early Next Week.

Senator Hoar viii give out the full
text Of the completed Administration
antitrust bill tonight The senior Sena-
tor from Massachusetts celebrated the
entrance of 1893 by putting the finishing
touches on the bill Early next week he
viii address the Senate at length in ex-
PLANTATION OF his measure.
Senator Hoar's bill viii provide the
Attorney. General with ample funds to
enforce existing law The House recent
J. allowed $500, Geo for this purpose as
an amendment 10 an appropriation bill.
but Mr., Hoar's bill viii make special
provision for Il.
Corporate Abuses.
The abuses of powers by great corpora
Iions engaged in international or inter-
state commerce are to be corrected so
as TO prevent the watering Of stock. to
prohibit the operations OF fraudulent
concerns which impose on the public,
and TO forbid any corporation from max
ing contracts beyond its capital re-
sources.
Provisions are made by which the op-
erations Of all large concerns must be
given the fullest publicity consistent
with maintaining their own private al
fairs free from the inspection Of rivals
Public Must Know.
The provisions regarding publicity re-
late TO all institutions. both large and
small, doing business without personal
responsibility. The regulation OF these
concerns does not sJou at what are
known as trusts, but includes all cor
poraJons where large amounts Of cap
1tal are utilized
Great care has been taken in drawing
the bill so that ne injury shall be done
10 honest business or the formation Of
great enterprises be discouraged
Measure of Protection.
Senator Hoar helped to frame The
Sherman antitrust law and has since
been Of the opinion that it afforded SUI
fcient protection against trusts, the
only necessary thing being a decision by
the United States Supreme Court on
the technical phrase in restraint Of
trade
Occasion has not arisen for such an
opinion, and as the Attorney General
desired additional authority conferred
on him, Mr.. Hoar has prepared this
new bill. He was requested to take
this matter in charge by President
Roosevelt. He had several. conferences
with the President ana learned his
views on the subject He also DIS
Cussed all phases OF the question with
Attorney General Knox.
Framed on State Models.
In beginning the preparation Of his
bill Senator Hoar determined to take
for his model the laws against abuse Of
corporate power now enforced by the
most conservative States. He devoted
considerable time TO studying the anti
trust laws Of various States, and his
bill viii contain the best features OF
these
Senator Hoar is chairman Of the Sen
ate Judiciary Committee, and his inau-
ence viii doubtless go lar toward Sc
curing action on a bill favorabIy re-
ported from that committee He has
completed the speech he viii make in
explanation Of his measure.
Power Of Congress.
de viii 60 thoroughly into the power
Of Congress. under the Constitution. 10
regulate international and interstate
commerce. He believes the Constitution
gives sufficient authority without
amendment
The formal title OF Senator Hoar's
antitrust bill IS: "a bill for the regll-
lation Of trusts or corporations engag-
ed in International OF interstate com
merce."