Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1903-01-03
TIE ANTITRUST BILL
Completed by Senator Hoar and
Goes to Committee On
Judiciary
PREVIOUS LAWS NOT REPEALED
Provides for and States Authority of
Attorney General to Require State
ments of Transactions of Corpora
tons, at Any Time-Books and Pa
pers Subject to Examination.

Washington, Jan. 3.-Senator Hoar
has completed and made public the
anti trust bill which he asked leave be-
fore the senate adjourned for the holt
days to introduce.
The bill goes to the committee on jul
dietary. of which Senator Hoar is chair
man. The bill does not repeal the pre-
vious antitrust laws. On the contrary,
lit declares they shall in no wise be
held to be limited. restrained or re-
|pealed by the act" 1t authorizes the
employment of assistance for the at
torney general in enforcing its provis-
ions, and appropriatas 100000 for this
purpose. The bill forbids specified
classes of corporations doing business
after June 30. 1904, except under GER
tain conditions. These include the filing
with the interstate commerce commits
sion sworn statements showing the
capital stock and value of the same:
how much paid in full in cash; names
of officers of the corporation; amount OF
dividends and all details relating to
ownership and value of stock; agree
ment of the corporation to comply with
all laws of the United States affecting
such corporation.
The attorney general is authorized to
require corporation at any time to
make statement regarding its bust
ness covering transactions entered into
within twelve months preceding such
requisition.
Section 4 provides:
THAT every person, corporation. joint
stock company or other association en-
gagged in commerce with foreign nations
or among the several states who shall
enter into any contract, combination or
conspiracy, or who shall give any direc-
ton or authority to DO any act for the
purpose of driving out of business any
ether person engaged therein, or who
for such purposes shall in the course OF
such commerce sell any article. or prod
uct at less than its fair market value,
or at less price than 1t is accustomed
to demand or receive therefor in any
other place under like conditions; or
who shall sell any article upon condi-
ton, contract or undertaking that 1t
shall not be sold again by the pur-
chaser, OF restrain such sale by pur-
chaser shall be deemed guilty of a mis-
Gemeanor. and, in conviction, shall be
punished by fine no. exceeding $4,000.
or by Imprisonment not to exceed one
year, or by both said punishments, in
the discretion Of the court"
The bill also provides that all books
and papers of corporations affected by
it shall be subjected to inspection by
the government. Punishment is pro-
vided for any corporation officer who
may in any manner violate the provis-
ions of the act.
Furthermore 1t says:
Corporations or companies affected
by this bill. which shall do anything in
contravention of the provisions of this
act, are forbidden to engage in COM
MERGE with foreign nations or among
the several states.
"a corporation or company convicted
a second time of violating the law is no
longer to be allowed to engage in COM
merce with foreign nations or among
the several states"
The bill then provides the method OF
procedure against violators Of the law.