Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-01-03
TO CURB THE TRUSTS
The Measure Drafted by Sen
ator Hoar.
POWER TO INVESTIGATE
AN APPROPRIATION PROPOSED
OF $500, 900 FOR EXPENSES.
The Attorney General Given Authority
The Attorney General Given Authority
to Examine Books and Records
Penalty for Violating the Law.

Senate adjourned for the holidays to INTRO
duce. The bill goes to the committee on
judiciary. of which Senator Hoar is chair
man. Following is the full text of the
measure:
Be it enacted etc, that the provisions OF
the statute of February 4, 1887, chapter 1Ol,
entitled IAN act to regulate commerce,
and all additions thereto; and of the statute
of July 2, 1890, chapter CAT, entitled AN
act to protect trade and commerce against
unlawful restraints and monopoles." shall
continue In force. and shall in nowise be
held to be limited. restrained or repealed
by this act.
Appropriation for Investigation.
Section 2. That the Attorney General is
authorized to employ any professional or
other assistance which may be deemed nee
essary or desirable to prosecute offenses I'M
der this act. or under the acts hereinbafore
mentioned. to which this is in addition, or
to make investigation into the same; and
for that purpose the sum Of $500, 200, or so
much thereof may be necessary, is
hereby appropriated out of any money in
the treasury not otherwise appropriated.
Section 3. That from and after the thir-
tieth day of June, in the year 1904, no cor
poration, joint stock company, or other as
ISOLATION. whose stockholders are not per-
sonally liable for their debts, created by
any state or territory, shall engage in COM
merce with foreign nations or among the
several states. or continue to carry on such
commerce. unless 1t shall comply with the
following conditions:
Regulation Of Corporations.
First. 1t shall file statement in the Of
flee Of the interstate commerce commits
sion signed and sworn to by it's president
Its treasurer, it's general manager, and a
majority of Its directors, or by the persons
exercising the powers usually exercised by
such officers and directors of such corpora
tons, joint stock companies and other as
sociations. on or before the 18th day Of
September. in the year 1904, and shall on or
before the 18th day of September in each
year thereafter file a like statement for
the year ending with the Goth day of June
in said years respectively, showing:
Second. The amount of its capital stock.
Third. The market value of the same.
ourth. How much of the same has been
paid in full in cash. or If the same has not
been paid In full in cash, what has been
received by the said corporation, joint stock
company. or other associa ton, in lieu there
of. and the value of whatever shall have
been SO received by 1t.
Fifth. The names of all the officers and
directors Of such corporation, joint stock
company, or other association, and all
agents intrusted with the general manage
ment of its affairs.
Sixth. The amount 1t has paid in divi-
OuliHS Sdlu the rate OF per-
centage of such dividends and times Of pay
ing the same.
Seventh. A statement Of all the stock
owned by it Of any other corporation, joint
stock company, or other association, speci-
flying the corporation, joint stock company,
or other association. and the number and
value of shares in each; the amount of it's
own stock held by other corporations,
and the value thereof: and the amount of
stock in other corporations, joint stock
companies or other associations held in
trust for 1t, or in which it has any interest,
directly or indirectly, absolute or condi-
tional, legal or equitable, specifying the
corporations, joint stock companies, or
other associations.
Eighth. An undertaking signed by said
officers. general managers and directors
that they Will comply with the provisions
OF this and all other laws Of the United
states In the management of the affairs Of
said corporations, joint companies or other
associations. and that they accept the pro-
visions and liabilities Of this act and the
obligations by it imposed, so long as they
shall continue to hold or exercise said
office author ty.
This statement shall be in addition to all
statements now or hereafter required by the
interstate commerce commission, or by any
other public authority.
Power Of the Attorney General.
The Attorney General of the United States
may at any time require Of any corporation,
joint stock company, or other association
SO engaged. any statement, he NAV think
mt in regard to the conduct Of Its business.
And he may especially require any such
corporation. joint stock company, or other
association. to give a list Of all contracts
or transactions entered into within the
twelve months preceding such reuuisition
in which 1t has sold any article or product
or carried any article or product at rate
less than the ordinary market price, If such
article or product had been sold or carried
by any other person than the party to such
transaction And he may further require
the reasons for such distinction and the
circumstances attending the same.
Unlawful Terms of Trade,
Section 4. That every person. corporation,
Joint stock company. or other association
engaged In commerce with foreign nations
or among the several states, who shall enter
into any contract. combination, or con-
spiracy, or who shall give any direction or
authority to do any act, for the purpose of
driving out Of business any other person
engaged therein or who for such purpose
shall in the course of such commerce sell
any article or product at less than its fair
market value. or at a less price than it ia
accustomed to demand or receive therefor
In any other place under like conditions. or
who shall sell any article upon a condition.
contract. or undertaking that 1t shall not
be sold again by the purchaser, or restrain
such sale by the purchaser. shall be deem
ed guilty of a misdemeanor. and. on con-
viction thereof, shall be punished by fine
not exceeding 5000 or by Imprisonment
not exceeding one year, or by both said
punishments. In the discretion of the court.
Section 5. That no corporation, joint stock
company, or other association, shall en-
gage in commerce with foreign nations. or
among the several states, majority of