The Providence news. (Providence [R.I.]) 1891-1906, 1903-01-03
In many respect, Mr.. Hoar's measure

In many respects Mr.. Hoar's measure
Is the most sweeping and far reaching
that has yet been introduced. 1t has
these three objects:
To provide the attorney general with
an additional fund OF 100000 with which
| TO enforce all laws regulating Interstate
| commerce. and corporations engaged In
interstate commerce.
To procure publicity OF all matters af-
! fecting the public welfare connected with
| state corporations engaged in interstate
| commerce.
| To prevent discrimination in sales OF
| product and In transportation by inter-
| state commerce corporations. and TO
| make il practically impossible for any
| corporation to drive smaller competitors
| out of business through underselling, or
| TO prescribe terms and TO whom products
| shall be sold.
The publicity feature practically re-
| quires all corporations whose stock
| holders are not personally liable for their
| debts to be licensed. Before a corpora
| ton can engage in commerce with foreign
| nations or amcng the several states IL
| must file with the Interstate Commerce
| Commission, before June 80. 1904, sworn
statement as to the amount OF Its capital
| stock the market value or the same, how
| much has been paid In cash. and, IL not
In cash. what else has been received
therefor; the names OF all officers, direc-
tors and agents, the amounts paid ir
| dividends and a statement Of all the stock
owned by II OF any other corporation anc
| the amount OF its stock held by other
corporations.
In addition, the corporation must sigr
! an undertaking that 1t will comply witt
/ l,,a ~igfn of
OF the United States and accept the pro
visions and liabilities OF this act.
INSTRUMENTATION PROVISIONS
/ Provisions for the prevention Of dis
elimination give the attorney general eX
, traordinary powers OF inquiry. Inc oi
The attorney general OF the Unite
| States may at any time require or an
: corporation. joint stock company or or
2 er association so engaged, any statemen
4 | he may think At In regard to the c9iluu.
| of it's business, and he may especially ~
. | oiIire any such corporation, joint stoc
l company or other association TO give
| list OF all contracts or transacuVhs =,
4 | tered into within the twelve months pr
v | ceding such reauisition i'm which ~ ma
q | sold any article or product, or carried an
II article or product, at n rate less man l.
! ,-dinary market price, N such arucle
e oduct had been sold or carried oy AT
other person than the party 10 sue
t-ansaction. and he may further rec reqIlfi y
| circumstances attending the same
The point of this Is that the attorne
/ general will be able 20 strike az the We, W
z ! root of trust discrimination In the MAJ,
a OF secret rates and secret contracts. -.
Senators Hoar's bill does not Etop tH''
That every person. corporation joii
|, stock company or other association e.
J. garcd I'm commerce with foreign nauoI
J. or among the several states, who sha
enter into any contract, combination
?. conspiracy. or who shall give any dire
ton or authority TO DO any act Tor u
l. purpose of driving out of business sI
other person engaged therein, or who II
such purpose shall in the course or SUE
commerce sell any article or product
a. less than It's fair market value, or at
less price than Il IL accustomed to q
a, mand or receive therefor in any 9th
place under like conditions; or who sh'
cell any article upon a condition, CO
W tract. or undertaking that II 'shall N
be sold again by the purchaser. or
strain such sale by the purchaser, shi
he deemed guilty Of a misdemeanor, ar
on conviction thereof. shall be punish
hy n fine not exceeding Ave thousand a.
- lars or by imprisonment not exceedi
90 one year. or by both said punishment
g. I'm the discretion Of the court
That no corporation. Joint stock COT