New-York tribune., 1903-01-23
FOR TRUST REGULATION.
THE LITII EFIELD BILL.
and P,eUention Of Rebates
and Monopohes Its Features.
Try TELEGRAPH 10 THE TRIBUNE ]

IBY TELEGRAPH TO THE TBIEUNE.l
Washington, Jan. 2%.-Three principal ooJects
are sought to be accomplished by the House
bnl on trusts made public by the Littlefield
subcommittee to-day:
First-Publicity as to corporations engaged in
interstate commerce.
Second-Prohibition of rebates dscrimina-
ton in rates and service by transportation COM
panes.
Third-Prevention of monopoly and of de-
vices to destroy competition by the unwarranted
cutting of prices.
The bill is in twelve sections, and begins with
the publicity feature to which the first four
sections are devoted. Section D deals with the
rebate problem, while Section g seeks to pre-
vent the creation of monopolies. The remainder
of the bill is devoted to penalties, court juris-
diction and procedure. The regulations are
to be made operative May 1 next.
The first provision OF the publicity feature is
that every corporation hereafter organized shall
make a return to the Interstate Commerce Com
mission before engaging in interstate or foreign
commerce; that every corporation now engaged
in interstate or foreign commerce shall make an
annual return. to the Interstate Commerce Com
mission if called for by the commission. In the
returns referred to must be shown the method
of organization of the corporation, the amount
and value of its authorized and issued cap1tai
stock and how much OF this stock IS common
and how much preferred. and how much of
the capitalization represents cash and how
much property of other descriptions, and wheth-
er any earnings or earning capacity have been
included in the capital also the names of all
officers and agents of the corporation and copies
of all rules regulations and bylaws governing it.
Blanks for this information to be supplied
by the commission. The section also provides
that an officer or agent of the corporation may
be examined under oath as to the matters set
forth in the return. The return is to be sworn
to by the president and treasurer of the cor
poration and a majority of It's board or d.
rectors. If the return is not made within the
time required the corporation may be enjoined
from engaging in interstate commerce until the
return is made. The penalty for making a
false return IS prosecution under existing stat
utes against perjury. An abstract OF the re-
turns made is required to be published an
nually by the Interstate Commerce Commission
The same authority is conferred on the Inter
state Commerce Commission to look into the
MANAGEMENT of the business OF all corporations
as the commission now has with reference to
railroad corporations, and provision for the
employment of such additional clerks and agents
as may be necessary is made.
The section prohibiting rebates seeks to
strengthen the law in force by making both
the shipper and the carrier who are parties to
the agreement for rebate discrimination liable
to punishment by a fine of not less than S1,GcO
The present law makes the carrier and the
agent of the carrier only so liable.
An attempt is made to prevent monopoly and
control in the production. manufacture and sale
of articles entering into interstate commerce by
providing that any corporation attempting in any
particular locality, either by discrimination in
price by giving special privileges or rebates for
the purpose of destroying competition and with
the intent of increasing such price after such
competition has been destroyed, shall be forbid
den use any of the facilities or instruments or
interstate commerce for such purpose Ihls
section is aimed directly az any attempt by COM
bination to crush out the small competitor
There is also a penalty of not less than $1,000
provided against carriers for transporting the
to use the instruments of interstate commerce
according TO the above regulation
There is a section providing that no person
may be excused from testifying or producing
books and papers in actions brought under the
terms Of the bill. on the ground that such evil
dence would tend to nCriminate him. JurlSdlc-
ton is given to the several circuit courts in
suits in equity brought under the bill. Parties
outside the Jurisdiction of the court where a
case is being tried may be made parties 20 the
suit.
Persons injured in business by corporations
acting in violation of any of the provisi Dns of
the bill may recover threefOld the injury sus-
tanned. through proper legal procedure