Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1903-01-03
HOAR'S ANTITRUST BILL.
xIror Regulation of Trusts md Cor
porations Engaged In Internal
ttonaI Or Interstate Commerce"

xr,or Regulation of Trusts and Cor
porations Engaged In Internal
ttonaI or Interstate Commerce.
WASHINGTON January c.--Senator
Hoar has completed and to-day made pub
lie the antitrust bin which he asked
leave before the Senate adjourned for the
HOLIDAYS TO introduce. re bill goes TO the
Committee on judiciary, OF which Sena-
Tor Hoar is chairman. IL is entitled
bin for the regulation Of trusts and cor
porationS engaged In ntcInaIoiia'' w M
terstate commerce.
ne first section continues in force the
present interstate commerce act, ana the
eora,Ied Sherman antitrust law. sec
ton two appropriates $4,000 TO enable the
Acknowledgement to prosecute offences I'M
fer this and existing acts, and authorizes
him to employ necessary assistance. sec
lion three provides that after June ~,
1904 no corporation. joint stock company
nr other association. whose stockhoidefs
are not personally liable for their oents,
created by any State or Territory, shaH
engage in commerce with foreign nations
or anlons; the several States, or continue
to carry on such commerce. unless II
shall comply with the following condi-
tons:
First II shall file statement IN Inc
office of the Interstate Commerce Com
mission signed and sworn 10 by Its prcsl-
dent its treasurer. its general manager.
and q majority of its directors, or D.
persons exercising the powers usually eA-
crcisei by such officers and directors OF
such corporations, joint stock companies
and other associations. on or before the
18th day of September in the year nine
cen hundred and four, and shall on or be-
of SaDfrn1Nrr pach
wear thereafter file a like statement for
the wear ending with the S0th day Of June
i'm said wears respectively showing
second The amount of its capital
stock.
.Tfrd. The market value Of the same
HOW STOCK Is PAID FOR
Fourth How much of the same had
been paid in fun in cash, or II the same
has not been paid In fun in cash, what
has been received by the said corporation,
Joint stock company, or other association
in Ecu thereof, and the value of Whatever
gnan have been so received by 1t
.tFifth. The names of all the officers
and directors of such corporation. joint
stock company, or other association, and
ali agents intrusteu with the general man
agement of its affairs.
sixth. The amount it has paid in divl-
aends during said period, the rate OF the
percentages of such dividends, and the
times of paying the same.
Seventh "a statement of all the stock
owned by it or any other corporation.
joint stock company, or other ASSOCIATION.
and the number and value of shares in
each: The amount OF its own stock held
by othc, corporations, joint stock COM
pany or other associations, and the value
thereof; and the amount of stock in other
corporations, joint stock companies, or
other associations held in trust for il. or
In which il has any interest, direct or in
direct. absolute or conditional, legal or
equitable specifying the corporations.
toint stock companies, or other assccia-
lions.
Eighth An undertaking, signed by the
said officers or general managers. that
they will comply with the provisions of
This. and all other laws of the United
States In the mana cement OF the affairs
BIZ said corporations, joint-Stock companies
81 other associations. and that they accept
tho provisions and liabilities of this act
and the obligations by it imposed, SO
long as they SHAH continue to hold or
exercise said official authority"
STATEMENTS ON DEMAND.
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 he
may think fiji in regard 10 the conduct Of
It's business, and he may especially re-
auire any such corporation. joint stock
company or any other association. 10
give list OF all contracts or transac-
lions entered into within the twelve
months preceding such acquisition. in
Which IT has sold any article or product, |
Or carried any article or product at a
rate less Than the ordinary market price, |
such article or product had been sold
sr carried by any other persons than
the party 10 such transaction. And he |
may further require the reasons for such |
distinction and the circumstances attend |
ing the same.
Second four provides that every per
Aon. corporation, joint stock company, or |
,ther association engaged in commerce
with foreign nations or among the several
Ste es. who shall. enter into any contract. |
combination or conspiracy, or who shall !
give any direction or authority 10 do any |
sct for the purpose OF driving out of busi-
ness any other persons engaged therein. |
or who for such purpose shall il the.
course OF such commerce sell any article |
or product at less than its fair market
value, or at q less price than 1t is nc
custo,ned to demand or receive in any
other place under like conditions. or un-
dertaking that it shall not be sold again
by the purchaser. - restrain such sale
by the purchaser, s..-a! be deemed guilty |
Of a nisdencanor. and on proof thereof !
shall be punished by a fine not exceeding !
i've thousand dollars. or by imprisonment
not exceeding one year. or both. In the
discretion OF the court. .
Section i've forbidE any corporation
whose stock Is controlled by another cor
Dsga&ton from engaging in interstate COM