The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1903-01-03
Sweeping Penalties Provided
in the Measure Approved
by President Roosevelt.
Affairs Of Corporations Must
Always Be Open to Fed
eraI inspection.
Price Discrimination Intend
tended to Favor Certain
Localities Forbidden.

Senator HOaT last evening filed with
/ the secretary Of the Senate his bill for
the regulation of trusts, thus taking
advantage of the permission granted be-
fore the adjournment of Congress for
the holiday recess. to preDare. and offer
the measure in the vacation period so
/ that it would be ready for consideration
when the Senate resumes business.
The antitrust bill is supposed to rep
resent the views Of the Administration
on this question. and contains all and
no more provisions than it has been ac-
credited with in the discussion OF the
measure in the time the press has been
waiting for it % be made public It
adds to and strengthens the Sherman
antitrust act without in any way modi-
flying or amending that law.
Senator Hoar has believed all along
that the Sherman law. if enforced. viii
do much toward rectifying the wrongs
or expressions caused by the concsntra-
ton of capital under one head. It IS
known that the President and Attorney
General Knox have held like views. but
at the same time were in favor of
strengthening the present law.
Prepared by Request.
As chairman of the Committee on the
Judiciary, Senator Hoar was requested
by the President TO prepare a bill en-
bracing his views and those OF Attorney
General Knox as outlined in his Pitts
burg speech After numerous confer
ences the title OF the bill was intro
duced and the unusual privilege. re-
ferred 10. given Senator Hoar by which
he is now following that title with the
body of the bill
4 speech has been prepared by Sena-
tor Hoar in explanation Of his bill /
This will be delivered next week. It
has not yet been decided when the Ju-
dietary Committee viii consider the bill. I
The measure specifies that the act Of /
February !. 1887, TO regulate commerce. /
and the act of July 2, 1890. ito prohibit /
trade and commerce against unlawful /
restraints and monopOlies" shall con
tfnue in force Section . OF the bill au- {
thori56s the Attorney General to employ
any assistance necessary tps prosecute
ofenses under the bill, and appropriated
$500 O00 for that purpose.
Conditions Improved.
The remaining sections Of the bill
follow in full:
Section ,. That from and after the
Goth day of June. in the year 1904, no
corporation, joint stock company, OF
other association, whose stockholders /
are not personally liable for their debts.
created by any State or Territory, shall
engage in commerce with foreign nations
OF among the several States, or continue
10 carry on such commerce, unless it
shall comply with the following con
Iitions:
''Ffrst-It shall file a statement in the
office Of the Interstate Commerce Com
mission. signed and sworn to by its
president its treasurer, its general man
sger, and g majority Of its directors. OF 4
5y the persons exercising the powers
IsuaIIy exercised by such officers and
directors of such corporations. joint
stock companies and other associations, Is
IN or before the 18th day of September.
II the year 1904, and shall on or before
he 18th day of September in each year
hereafter file a like statement for the
rear ending with the S0th day Of June in
said years, respectively, showing:
"Second-The amount Of its capital
stock.
''Third-The market value Of the same.
"Fourth-How much of the same has
}een paid in full in cash; or. if the same
las not been paid in fun in cash. what .
las been received by the said corpora
ion, joint stock company, or other as
ociation, in lieu thereof, and the value
# whatever shall have been so received :
" It.
"Fifth-The names Of all the officers
nd directors of such corporation, joint
took company. or other association. and
il agents intrusted with the general u.
management of its affairs.
Statement of Stock. h
''Sixth-The amount it has paid in :
dividends during said period. the rate
Il percentage Of such dividends. and
ines Of paying the same.
SEVENTH statement of all the y
took owned by It of any other corpo- d
alton, joint stock company or other o
ssociatton. specifying the corporation. a