The Montgomery advertiser., 1903-01-03
HOAR'S BILL
 TO FIX TRUSTS Seeks to Regulate Gigantic
 Combinations. FULL TEXT OF MEASURE Attorney General Empowered
 to Scrutinize Books. Officials of Corporations May Be Held to Answer Criminal Charges and Company May Bs
 Denied Privileges.

completed and today made public the and-trust bill which he asked leave, be- fore the Senate adjourned for the holi- days. to introduce.
 The bill goes to the Committee on Judi ciary. of which Senator Hoar Is Chair man. Following is the full text of the measure:
 Re it enacted, etc, That the proyisions of the statute of February {. 1887, chap ter l0A. entitled An Act to Regulate Com merce. and all additions thereto; and of the statute scf July 2. 1890, chapter SAT, entitled An Act to Protect Trade and Commerce against Unlawful Restraints and Monopolies' shall continue in force and shall in no wise be held to be limit ed. restrained or repealed by this act.
 Section 2. That the Attorney General is authorised to employ any professional or other assistance which may be deemed necessary or desirable to prosecute of- lenses under this act or under the acts hereinbefore mentioned. to which this is an addition, or to make investigation into the same: and for that purpose the sum of $500,000 or so much thereof as may be necessary. is hereby appropriated out of any money in the treasury not otherwise appropriated.
 Sec. 3. That from and after the thir- tieth day of June in the year nineteen hundred and four. no corporation, joint stock company or other association whose stockholders are not personally liable for their debts. created by any State or Ter ritory shafl engage in commerce. with for eign nations or among the several etates unless it shall comply with the following conditions:
 Must File Statements.
 ssE1raf--Tf aha1n AIn S&~&~xon~A s. ofiice of the Interstate Commerce Com mission. signed and sworn to by it's Pres ident. its Treasurer its General Manager and majority of it's directors. or hy the persons exerctging the powers usually exercised by such officers and directors of such corporations joint stock compa- nies and other associations on or before the 18th day of September in the year nineteen hundred and four, and shall on or before the 18th day of September in each year thereafter. file a like statement for the year ending with the thirtleth day of June in said years. respectively. showing:
 ''second-rho amount of its capital stock.
 ''Third-Ths market value of the same.
 ''Fourth-How much of the same has been paid in in full in cash; or if tho same has not been paid in in fuli cash, what has been received by said corpora ton, joint stock company or other asso- citation fin lieu thereof. and the value of whatever shall have been so received by N.
 "Ftfth-The names of all tho officers and directors of said corporation. joint stock company or other association, and all agents trusted with the management of it's affairs.
 "Slxth-Ths amount it has paid in divi- dends during said period, the rate of per- centage of such dividends and times of paying the same.
 "Sey enth--A statement of aii the stock owned by 1t of any other corporation. joint stock company brother association and the number and value of shares in each, the amount of it's own stock held by other corporations, joint stock com panies or other associations and the value thereof, and thS amount of stock in other corporations, joint stock companies or other associations held in trust for 1t, or in which 1t has any interest, directly or indirectly, absolute or conditional, legal or equitable, specifying the corporations, joint stock companies or other associa, tions,
 "Eighth--An undertaking signed by said officers general managers and directors, that they will comply with the provisions OL liilS huu HI OiECT ldWb OI States in the management of tho affairs of said corporations, joint stock com- panies or other associations; and that they accept the provisions and liabilities of this act, and the obligations by 1t imposed, so long as they shall continue to hold or exercise said offices or autheF- ity.
 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 Attorney General.
 "The Attorney-General of the United States may at any time require of any corporation, joint stock company or ether association so engaged, any Statement he may think fit, 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 enter ed into within the twelve months preced- ing such requisition in which 1t has sold any article or product or carried any ar ticle or product at a 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 trans action. He may further require the req sons for such distinction and the circum- stances attending the same.
 Sec. f. That every person, corporation, joint stock company or other association engaged in commerce with foreign nations or among the several States who shall en- ter into any contract, combination or or who shall give any direc> ton or authority to do any act for the purpose of driving out of business any other person engaged therein, or who, for such purposes. shall in the course of oh. aW.ftrla nv- at less than it's fair market value, or at a less price than 1t is accustomed to de- mand or receive therefor in any other place under like conditions, or who shall sell any article upon a condition, eoa- tract or undertaking that 1t shall nat be sold again by the purchaser or restrain such sale by the purchaser, shall be deemed guilty of a misdemeanor, and, pn conviction thereof, shall be punished by a fine not exceeding $5,00e or by inprlsqn- ment not to exceed one year, CT by eath, l