The sun., 1908-03-24
AMENDS The ANTITRUST Law
BILL FRAMED AT THE WHITE
HOUSE rs INTRODUCED.

II Provides for ReglStratiOn Of Corporations,
such Corporations to he Immune From
Prosecution 49, Only Actual Damages
for Injury Done May BE Recovered
WASHINGTON, March 29.-The bill amen
datory OF the Sherman antitrust law,
which was framed at the White House In
the course Of many conferences between
President Roosevelt, officers Of the Govern
ment and members Of the Civic Federation,
was introduced In the House to-day by
Representative W, p. Hepburn, chairman
OF the Committee on Interstate and Foreign
Commerce. The bill is based on the idea
Of publicity for industrial and other COM
binatlons and provides for what amounts
TO a Federal license for corporations and
associations. Broader powers are given
to the Commissioner Of Corporations and
the Interstate Commerce Commission.
Corporations which file copies OF con-
tracts and agreements with the proper
Federal authority are to have immunity
from prosecution under the antitrust law
II these contracts and agreements are APP
proved. After one year from the passage
Of the act registered corporation or
association will be immune from prosecu-
ton for any violation Of the Sherman
antitrust law prior TO registration. Only
unreasonable" combinations in restraint
OF trade are TO be amenable TO prosecu-
ton, thus modifying the comprehensive
scope Of the Sherman law. The Supreme
Court has decided that combinations,
whether reasonable or unreasonable, may
be prosecNted.
Only actual damages for injury done by
combinations may be recovered. The
present law permits the recovery OF triple
damages. The bill does not contain an es-
peoial exemption Of the Federation Of Labor
| from the operations Of the Sherman law.
Influential members Of Congress look
askance at this proposed White House
legislation, and 1t is already pretty well
| understood that the measure will not be in
cluded in the legislative programme which
President Roosevelt and Republican leaders
| in the Senate and the House are endeavor-
ing to arrange The measure is too inn
| portant, they say TO receive proper con-
sderation within the brief period OF the re-
mainder Of the present session. Further
more, there is a disposition to criticise that
section which permits the President OF the
| United States to prescribe regulations
whenever he desires requiring corporations
to give information in regard to their lnan-
cial condition in order that they may obtain
the right Of registration or remain on the
registered lists. While some Of the leaders
are unwilling to say what their course will
| be until they have examined the bill thor
oughly, il is evident that they regard It as
! too sweeping and comprehensive to be dis
posed Of at this time.
The bill was the outcome Of the trust con-
ference held in Chicago in October, 1907,
! under the management Of the National
! Civic Federation. Resolutions adopted by
| the conference we're presented TO President
! Roosevelt in January. At Speaker Can
| mons suggestion Seth Low and Samuel
Gompers consulted Representative jenkins,
chairman Of the Judiciary Committee, and
Representative Hepburn, chairman OF the
/ Committee on Interstate and Foreign Com
merce, and as a result II was decided to pre-
pare a bill along the lines of the resolutions
adopted at the Chicago conference IN order
! that Congress committees might have a
concrete measure upon which to hear argl-
ments. President ROosevelt's aid was en-
| listed, and the White House conferences Of
this month followed. Seth Low, who was
one Of the prime movers in the matter, said
tonight:
THE various interests affected by the
bill. railroad business, agriculture and
labor. 30 far as | can speak for them, are
in accord in the desire TO secure for the
business interests OF the country the relief
that the bill aims TO give. Organized labor,
az represented by the American Federation
Of Labor, thinks that 1t is entitled to be
relieved from the Sherman antitrust act
entirely. | know Of no Other difference
Of opinion as 10 the bill.
Il is expected that influential members
Of the Administration will urge the passage
OF the bill without delay not only on the
contention that it will help relieve business
conditions but for the cake Of the Repub,
lican party This argument will not avail
much, il anything, among the Congress
leaders, who are not inclined to throw any
SOD TO either capital or labor by any hasty
action that may cause trouble in the future
Il is being said tonight that the decision
Of the United States Supreme Court to-day
in the Minnesota and North Carolina rail-
road cases indicate the danger Of hasty
legislation and point directly to the un.
constitutionality Of the Hepburn railroad
rete law which was forced through Con
Rress az result Of agitation begun by
President Roosevelt. Why, therefore, II
il is being asked, should Congress be eX'
pected TO yield to any clamor from the
Administration and certain interests 70
rush 10 its passage a measure Of far reach
ing importance, particularly when its
stated purpose is to correct errors that
were due TO agitation and haste in the
first instance?