The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1903-01-30
DEALS WITH TRUST QUESTION
Report Prepared by Representative
LittIefield to Accompany Anti
Trust Bill.

Washington, January ga report
prepared by Representative Littleield
to accompany the antitrust bill re-
ported TO the house by the judiciary
committee was presented today by Rep
r~esentative Overstreet, of Indiana, Nj.
Littlefeld being away Investigating the
coal situation along the coast. The re-
port treats of the trust question at
great length. Speaking of the bill re-
ported it says:
It's purpose Is more effectively to
regulate and control, on conservative
lines, industrial and business comb:na-
tons which in their operation prove inIk
furious tn the public welfare. 1t is %
lieved to be a decided step in advanced
of existing legislation. 1t involves IN
idea Of publicity and additional legis-
lation to prevent determinations by re-
hate or special privileges upon the part
Of railroad companies. 1t seeks to pre-
vent the effort to destroy competition
in particular localities by discrinina-
lion in prices, and prohibits railroad
companies from transporting goods In
violation of the provisions of law. and
contains provisions intended to facili-
tate the enforcement of this act as well
as existing legislation on the same
lines.
The aggregation on large capital,
great volume of business. giving A fair
return to the capitol invested. with a
reduction in price TO the consumer. is
what is termed the new phase of mod
ern industrial development; and the
f~-~ ~ 0--o s-n tfn, 4
its evils of over capitalization. is the
medium through which the development
has largely taken place. Theoretically,
on paper. this reasons we'll. looks we'll,
and works we'll. The ultimate result in
which the public has an abiding inter-
est. the reduction of the price to the
consumer. is in practice seldom attain
ed. This result is the only fact that
can justify this phase of industrial de-
velopment from the public standpoint.
1t is not believed hat any of these cor
porations Yet organized have ever been
dominated. or organized for the al
truistic purpose of reducing the price
to the consumer. The controlling pur-
pose in such organizations is believed
to be what it naturally would ha-the
profit of the parties thereto. If the pub
lie receives any benefit, it is Incl
dental. Profit to persons in
control inspires their operation
as we'll as organization. AS capital is
entitled TO a fair return. the public is
vitality interested in the amount Of cap
ital necessary to carry on a given en-
terDrise. Such fair return is a proper
element Of the cost of the article and
the public must pay for it and the 9th
er elements of cost involved. when 1t
buys the article.
ITO what extent we are now paying
exorbitant prices to produce abnormal
returns no one can tell, as no reports
are now made to any authority, state
Or national, that give any adequate in
formation on that point. This is one
of the things that this bill seeks to 40
complish.
Publicity, by creating an intelligent
public sentiment, will go far toward
the amelioration of oppressive condi-
tons. If it is a TACT that competitors
are ruthlessly destroyed and prices are
increased in order that norm ra-
turns may be received upon a relative
ly insignificant Investment and the
s~earchlight Of publicity can be returned
thereon, it is doubtful If the persons
who are responsible for such a repre-
hensible condition could long stand the
we'll directed public Indignation that
would be thus aroused. 1t Is not claim
ed that publicity is a cure-all. 1t is
hoped, however, that by it application
the operation Of natural laws may in
an appreciable degree alleviate existing
conditions"