Durango semi-weekly herald., 1903-01-12
SENATOR HoAR's ANTI
TRUST BILL

The bill prepared by Senator Hoar
ior the supervision and regulation OF
combinations engaged in interstate
aud foreign commerce is the most
practical and comprehensive measure
that mas been proposed for dealing
with this subject 1t supplements
-he interstate commerce act and the
sherman antitrust law, both Of which
IL provides shall continue in force and
ne III nowise limited or restrained.
he bill goes TO the farthest practica-
lie extent in requiring publicity I'm
lei such law the enormous over
capitalization of combinations that
now exists. and which is the most
dangerous element in them, could not
oe Effected. The public would be Civ
u the fullest information in regard to
heir financial condition when organ
Led and from time 10 time, as the
attorney general oil the United States
hisht require, respecting the conduct
II their business.
The provisions of the measure for
he supervision of the combinations
-eem 10 he ample and adequate. The
jooks and papers of every corporation
which the bill applies are to be sub
i2ct to inspection by the attorney gen
cial of the United States, or any
gent lie may designate. at such times
Is ne shall prescribe, Not only this
'ut the attorney general may require
'uch further returns, properly veri-
reid, is he may deem necessary Thus
hat official may institute the most
'onpie,e and thorough Investigation
u the affairs OF corporation. An
Ncellent provision in that lor the
protec ton OF competitors against any
ontract. combination Or conspiracy
or The purpose OF driving any person
Jut OF business by underSelling or 9TH
tr eNpedient now commoAly practiced
oy the combinations. The familiar
Methods by which the combinations
have crushed Out competition would
4 resorted 10 under the proposed law.
Constitute Il misdemeanor punishable
ny fine or imprisonment, or by both.
The penalties prescribed Tor viola
IONS OF the act are sufficient and they
Idiyidually. 1t is manifestily most
desirable and necessary to any plan
Jf trust regulation that officials shall
he held personally responsible for
heir acts in contfayention OF the law
II corporation manufacturing or pro-
lucing an article habitually sold be
ond the state in which it is manu-
at Il Vii. 4 "a, L.,
excluded from commerce with foreign
nations or among the several states,
md any corporation twice adjudged by
A court having jurisdiction to have
Violated the provisions of the act,
nall no longer be allowed to engage
Il foreign or interstate commerce, un-
ess the attorney general of the United
) ates shall be satisfied that such cor
poration will desist from violating the
tct. In the case of corporation
n association whose business is such
hat its absolute stoppage would be
IN Injury to the public-as, for ex-
ample, the anthracite coal combina-
ion-the attorney general may in his
discretion refrain from proceedings to
lhta'n decree absolutely preventing
he continuance of such business and
'pply for a limited or conditional re
rec for the enforcement of the act
Senator Hoar is understood to have
ronsulted with President Roosevelt
md Attorney General Knox in the pre-
paration OF his bill and it shows most
careful and thorough consideration
1t will command public interest and
attention to greater extent than any
other bill introduced in the present
congress, and we think it safe to say
will have the very general approval of
those who believe there should be ad
ditional legislation for the regulation
and supervision of the great combina-
lions engaged in interests and foreign
commerce. 1t should be enacted into
law by the present congress.