The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-01-04
Loads to the Muzzle With
Publicity" Powder.
ANIl-CONSPIRACY SHOT
Aud Jail Stripes Wadding. ABiIl That Might
Set Trust Eyes to GoggIing if il
Were Passed AID En-
forced.
(By the Associated Press.)


Hoar has completed and today made pub
lie the antitrust bill which he asked
leave before the Senate adjourned for the
holidays to introduce. The bill goes to
the Committee on Judiciary, of which
Senator Hoar is chairman. 1t is entitled
"A Bill for the Regulation of Trusts and
Corporations Engaged in International or
Interstate Commerce" The first section
continues in force the present Inter
State Commerce Act and the so-called
Sherman Antitrust Law. Section ap-
propriates $500 900 to enable the Attorney
General to prosecute offenseS under this
and existing acts and authorizes him to
employ necessary assistance. Section 3
provides that after June 80, 1904. mo cor
poration, joint stock company, or other
association. whose stockholders are not
personally liable for their debts, created
by any State or Territory, shall engage
in commerce with foreign nations or
among the several States, or continue TO
carry on such commerce. unless it shall
comply with the following conditions
First-it shall file a statement in the
office of the Interstate Commerce Com
mission, signed and sworn to by its presi-
dent it's treasurer, it's general manager
and a majority of it's directors, or by the
persons exercising the powers usually OK
ercised by such officers and directors
of such corporations, joint stock COM
panies. and other associations, on or be-
fore the fifteenth of September, in the
year nineteen hundred and four, and
shall on or before the fifteenth day of
September in each year thereafter file a
Ike statement, for the year ending with
the thirteenth day of June, in said years,
respectively showing:
Seccnd-The amount of its capital
stock.
Third-The market value of the same.
Fourth-How much of the same has
been paid in in full in cash; or if the
same has not been paid in full in cash,
what has been received by the said COR
poration, joint stock company, or other
association, in lieu thereof and the value
of whatever shall have been SO received
by it.
Fifth-The names of all the officers and
directors of such corporation joint stock
company, or other association, and all
agents intrustcd with the general manage
ment of its affairs.
Sixth-Thc amount it has paid in divi
donds during said period. the rate of
percentage of such dividends and times
Of paving tho same.
Scverth-A statement of all the stock
owned b. 1t of any other corporation,
joint stock company, or other association.
specifying the corporation, joint stock
company, or other association, and the
number and value of shares in each; the
amount of it's own stock held by other
corporations, Joint stock companies or
other associations and the value there
of; and the amount of stock in other
corporations, joint stock companies or
others held in trust for it. or in which
it has any interest, directly, or indirectly,
absolute or conditional. legal or equitable,
specifying the corpo. atiors, joint stock
conn Jpic., or ether associations.
Eighta-An undertaking signed by said
officers. managers and directors, that
they viii comply with the provisions of
this ard all otter laws of the United
States in the MANAGEMENT of affairs of
said corporations, joint companies, or
other associations; and that they accept
the provisions and liabilities of this act
and the OIL cations by it imposed, so
long as thcv shall continue to hold or
exercise said office authority.
The Attorney General of the United
States may at any time require of any
corporation joint stock company or other
association so engaged any statement be
NAV think fit in regard to the conduct
of its business. And he may especially
require any such corporation, joint stock
company, or any other association to give
a list OF all tho contracts or transactions
entered into in the twelve months pre-
ceding such requisition, in which it has
sold any article or product or carried
sny article or product at a rate less
than the ordinary market price, if such
article or product had been sold or car
ried by any other person than the party
to such transaction. And he may furth
err require the reasons for such distinction
and the circumstances attending the
same"
Section four provides: THAT every
person, corporation, joint stock company,
or other association engaged in commerce
with foreign nations or among the several
States, who shall enter into any combi
nation, or conspiracy or who shall give
any direction or authority to act for
the purpose of driving out business of
any other person engaged therein, or
who for such purpose shall in the course
of such commerce. sell any article or
product at less than it's fair market value.
or at a less price than it is accustomed
to demand or receive therefor in any
other place under like conditions, or I'M
dertaking, that it shall never be sold by
the purchaser, or restrain such sale by
the purchaser. shall be deemed guilty OF
misdemeanor and on conviction thereof.
shall be punished by fine not exceeding
five thousand dollars, and be imprisoned
not exceeding one year, or both of said
punishments, in the discretion of the
court"
Section forbids any corporation whose
stock is controlled by another corpora
ton from engaging in Inter State COM
rnerce of the controlling corporation vio-
lating This act. Section 6 provides that
the books of every corporation. shall be
subject to inspection by the Attorney
General In section presidents, directors
and other officers and officers of corpora
tons who take part in action violative of
this act. arc made liable to the penalties
provided
Section lorbds Inter State commerce
to corporations. (which shall manufac-