Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1903-01-08
HOAR INTRODUCES
ANTITRUST BILL
NEW MEASURE CONTAINS STRiN-
GENT PROVISIONS.
ON THE PUBLICITY PLAN
Fornids Specified Glasses of Corpora
tons from Doing Business After
June 10-s5oaooo Appropriated to
Enforce Act-Attorney General
Given Executive Power.

Washington, Jan. 3.-Senator Hoar
has completed and yesterday made
public the antitrust bill which he
asked leave before the senate ao.
Journed for the holidays to introduce
The bill goes to the committee on
Judiciary, Of which Senator Hoar is
chairman. The bill does not repea1
the previous antitrust laws. On the
contrary it declares they shall in no
wise be held to be limited, restrained
or repealed by the act" 1t authorizes
the employment Of assistance for the
attorney general in enforcing the pro-
visions and appropriates 100000 for
this purpose. The bill forbids spec1-
fed classes Of corporations from doing
business after June 10, 1904, except
under certain conditions. These in
clude filing with the interstate COM
merce commission sworn statements
showing the capital stock, the value
OF the same, how much was paid in
1uli IN cash; the names of officers of
the corporation; the amount of diyf-
dend; all details relating to the own
I
agreement Of the corporation to COM
ply with the laws Of the United States
aHectlng such corporation.
! The attorney general is authorized
to require corporation at any time
10 make statement regarding it's
! business covering the transactions
entered into within twelve months pre-
: limo
provides:
! That every person, corporation.
! joint stock company or other associa-
! ton engaged in commerce with foreign
! nations or among the several states
! who shall enter into any contract
! combination or conspiracy, or who
shall give any direction or authority
to do any act, for the purpose of driv-
ing out of business any other person
engaged therein, or who for such pur-
| pose shall in the course of such COM
MERGE sell any article or product at
less than it's fair market value. or at
less price than it is accustomed to de-
mand or receive therefor in any other
place under like conditions: or who
shall sell any article upon condition,
contract, or undertaking that it shall
not be sold again by purchaser or re-
strain such sale by purchaser, shah
be deemed guilty Of misdemeanor
and, on conviction thereof shall be
punished ty a fine not exceeding
$4,000 or by imprisonment not to ex-
coed one year, or by both said punish
ments in the discretion of the court"
The bill also provides that all books
and papers Of corporations affected
! by it shall be subjected to inspec-
ton by the government. Punishment
is provided for the corporation officer
who may in any manner violate the
provisions of the act'
| Corporations or companies affected
by this bill which shall do anything
in contravention of the provisions OF
this act are forbidden to engage in
! commerce with foreign nations or
among the several states. The cor
poration or company convicted a sec
ond time of violating the law is not
longer to be allowed to engage in
commerce with foreign nations or
among the several states. The bill
then provides the method of proceed
ing against violators Of the law.
The final section fixes the liability
and punishment of officers who VIC
late the law as follows:
section II. That every president,
treasurer, general manager, agent or
other person usually exercising the
power of such officers of any corpora
ton, joint stock cmpany or other as
ISOLATION who has himself in it's be-
half, violated, united to violate or vot-
ed for, or consented to the violation OF
any provisions of this act shall there
after be personally liable for all debts
and obligations such corporation, joint
stock company, or other association
created while such person holds such
Office or agency, whether under the
same or subsequent elections or ap-
pointments.'