The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-02-17
THE Ll1ILEFIELD BILL
How It Appears in the Senate-Nel
sons Amendment Against
Mergers Is Defeated.

Washington. Feb. 1.-THE senate
committee on the Judiciary con-
Guided consideration of the Littlefeld anti
trust bill and decided to report it to the
senate with number of amendments.
The most important changes were made In |
connection with sections and OF the |
house bill, for which the senate committee
will recommend complete substitutes. |
Section as the bill passed the house pro- |
hibited persons engaged in violating the
provisions Of the law from using any of
the instrumentalities Of interstate COM
merce. This purpose is retained in the
substitute of the senate committee, but
the scope of the provision is enlarged, so
| that as agreed on 1t reads as follows:
| That corporation engaged in the produc-
| ton, manufacture or sale of any article which
| may be the subject Of interstate commerce at
| tempting to n,onopolize the production manufac-
! ture sale in any state, by discrimination i'll
prices or by giving special privileges or rebates,
or in any other manner whatever, In order to
prevent or hinder competition therein, with re-
| spect to such article. shall lin any way engage
in Interstate commerce for the purpose OF aiding
or facilitating, either directly or indirectly,
such production manufacture sale with intent
| to monopolize the production, manufacture or
! sale of any such article. .,..$st
, Nor shall any other person Or corporation in
any way engage in interstate commerce for the
| purpose Of enabling such aforementioned corpora
ton to engage continue to engage in such
production, manufacture or sale with such IN
tent, the business of any person or corporation
engaged in the manufacture, production or sale
of any manufactured article that may be the
subject of interstate commerce, which, by reason
of ownership control Of lands, growing timber
or other vegetable products or containing coal,
OIL iron. or other minerals or metals used In the
manufacture of such articles, or BY reason OF
ownership or control of the instrumental1ties OF
, | manufacture, production or sale, shall nave the
power to control affect in whole or In part.
the price of said articles throughout the United
states so as to prevent forestaIl, sthe, destroy
| or hinder competition therein, and which shall De
so conducted. in whole or in part as to prevent,
forestall stfe. destroy or hinder such competl-
ton is hereby declared to be a monopoly within
the meaning Of this section. The foregoing deh-
0 milton shall not be held to include business
i founded on secret process, so long as the
secret is confined TO one mahutactuler VI pi"
ducer ,,
Any person violating either Of the provisions
of this section, or aiding, abetting: assisting or
o counselng any other person or corporation TO
g violate the same, SHALL, on conviction. be pun
: ished by fine of not more than $o'ooo or Dy
=. Imprisonment in the penitentiary for not more
| than five years. or by both such fine and I'M
| prisonment at the discretion OF the court. ANY
corporation violating the provisions OF TINS sec.
+ | tion shall forever forfeit to the United S9ates
= | the sum of So 900, to be recovered as IN other
4 cases of penalties and for the purpose OF sane
r. forfeiture every sale OF goods wares OF
Z disc for shipment outside the state where sac
: cornoration is located and doing business VIII
VI the intent so to monopolize and every contrac
~ such sale and every shipment OF suen
. discrimination with such intent, in prices o
a, Of giving such privileges or rebates snail
considered violation o. lhls oeS'ioi -.
Capital Stock.
ms rho new section also prescribes tn
M NJ, | conditions under which it shall be unlaWfl
M for any corporation hereafter organized t
engage in interstate commerce ines
Mt conditions are as 1olloWs:
ar First-The capital stock of such corporate
ey has been fixed at sum greater than the SUI
actually paid in in f cas- OF has been
,is subscribed by bona fde subscribers ana IS SUI
49, ject to call in the manner PROVIDED Ds Tue ID
be of the state where organized.
sacond-The paid-up capital stock of such CO..
oil noration has been increased the purchase WI
his it's own stock Of the stock of other corporatol
ut. ,t n value in of falr cash Vaiue oA u
1g. latter or paid for it with it's own stock at
raj valuation less than a fair cash value:
Third-The paidup capital STOCK e o, r s%cn 9.
an nara tion has been increased by the purchase
icf, H. own stock at par less of property at
the va1uation passed on earning capacity and go<
ms will when such valuation Is IN excess % .n. =.
n's of duplicating said property, II the properly
Misunderstanding or producing plants rallwa
. 49, steam vessels or is in excess of its fair ca
ya1he if the property be mines real estate
- anv class of improved property.
Section of the house bill imposed NJ
20 * o0o on common carriers for the VI
ton of this act or the existing int
Ststa commerce law. The substitute us
the word Corporation instead OF {
words common carrier and proV1oes
forfeit to the United states ana aoos
Violation Defined
For the IMPOSES Of said forfeiture every 81
of goods wires or merchandise for shipme
outside the state where said corporation Is
Gated and doing business and every contract
such SALE and every shipment OF sucn aruc
nursuant to such sale contract, and II ST
"a corporation be common carrier, every Gay =
81 engages in the business OF carrying on. INT
state commerce shall constitute a 4vlolaton
this section.
A fine Of IS, 900 or Imprisonment for I
years, or both, is imposed on persons "
may knowingly cause or aid any corpol
tfon to violate these statutes
1t was over these two substitutes u
the committee had its sharpest cont
and closest votes. They were carried
| the full democratic vote with the asst
ance of three republicans. the senat
voting for the amendments being he
Nelson and McComas. republicans; Bac
! Pettus, Turner, Blackburn and Culbers
democrats The negative votes were c
bvf Senators Platt Of Connecticut VI
F 81 wyoming Fairbanks, Simon and
pew all republicans.
Many other changes were made IN
text Of the bill The first few lines OF s
ton were stricken out and the follow
substituted:
Publicity.
That whenever the interstate commerce c