Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1903-01-10
Senator Hoar's Anti Trust Bill.


Senator Hoar's antitrust BILL which
was framed with the advice of Attor-
ney General Knox acting for the ad-
ministration, is now attracting more
public attention than any other meas
ure before Congress. Senator Hoar's
mastery exposition of his bill before
the Senate, this week, was worthy of
the man and the subject; and both the
most prominent public men at Wash
ington and the leading papers, in dis
cussing the measure, seem agreed that
if any legislation can regulate trusts
then it can be done by this proposed
law The bill is simple, short and di-
rect but it is drastic and sweeping. 1t
not only provides for complete pub
Lefty, as was anticipated but it gives
the attorney general extreme and al
most unlimited power of inquiry into
all corporations engaged, directly or
indirectly, by manufacture, in inter-
state commerce, and has conferred on
that officer every power known to the
law by seeking injunctions, by crimi-
nal proceedings and by personal liza
bility on the part of the directors and
officers for corporation debts to en-
force all common law prohibitions of
agreements in restraint of trade.
There can be no doubt that such a
law as this bill proposes would make
all previous antitrust laws seem like
child's play. Some question whether it
would pass the courts. That can only
eddy it has been drawn with constitu-
tional limitations always in view
From the Philadelphia Press we take
the following summary of the main
provisions of the bill with which ev-
cry one who attempts to discuss the
trust problem should now make him.
self familiar.
IF any corporation makes contracts
or agreements to monopolize trade,
drives a rival out of business, sells at
different prices in different places I'M
der like conditions, or sells under con-
tracts prohibiting resales, then rene
dies are open. First, the courts can
act by injunction, permanent or par
tial, though no provision is made for
resort to a receiver. Second, directors
or officers are made criminally respon-
sble. Third, corporations which vio-
n Of !,
are incontinently turned into partner
ships, or, what amounts to the same
thing, their officers and directors are
made personally liable for the debts of
the corporation. Lastly, the attorney
general is given such power of search
ana seizure of books, papers, accounts
and agreements as has long been de-
MED the law officers of English speak
ing communities save in banks and
other quasi-public corporations. Cor
porations have hitherto been the object
of such legislation. This bill strikes
at officers or directors. Interstate com
merce has hitherto been limited to
trade or commerce. This bill includes
manufacturing corporations. Hitherto
general reports of operations have been
proposed for all corporations. This
leaves free corporations as a whole:
but gives the attorney general power to
turn inside out any corporation he
deems guilty of violating the law. Reg
ulation by taxation or by mere prohi-
bition has been proposed or enacted in
the past, with penalties directed at cor
porations. Senator Hoars bill makes
the officer and director of a trust liable
In his fortune and in his liberty"