The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1908-03-24

The bin amendatory OF the sherman
antitrust law which was framed at the
White House in the course Of many con-
ferences between President Roosevelt.
officers Of the government, and members
Of the Civic Federation was introduced
n the House yesterday by Representa-
tive ". p. Hepburn. chairman OF the
Committee on Interstate anG Foreign
Commerce.
The bill is based on the idea Of publicity
for industrial and other combinations. and
provides for what amounts to a Federal
license Of corporations and associations.
Broader powers are given TO the Com
missioner Of Corporations and the Inter
state Commerce Commission. Corpora
tons which file copies OF contracts and
agreements with the proper Federal au-
thority are 10 have immunity from prose-
cution under the antitrust law if these
contracts and agreements are approved.
After one year from the passage Of the
act registered corporations or associa-
tons Will be immune from prosecution
for any violation Of the sherman anti
trust law prior 10 negotiations. Only
unreasonable" combinations in restraint
Of trade are TO be amenable 10 proseeu-
ton, thus modifying the comprehensive
scope Of the Sherman law.
The Supreme Court has decided that
combinations. whether reasonable or IN
reasonable, may be prosecuted. Only
actual damages for injuries done BY com
binations may be recovered. The present
law permits the recovery OF triple dam
ages. The bill does not contain a special
exemption of the Federation. OF Labor
from the operations OF the Sherman law.
Look at IL ASkance.
Influential members or Congress look
asksnee at this proposed White House
legislation. and il is already pretty wen
understood that the measure will not be
included IL the legislative programme
which President Roosevelt and Repub-
lican leaders in the Senate and House are
endeavoring 10 arrange.
The measure is toe important, they say.
TO be given proper consideration within
the brief period OF the remainder Of the
present session. Furthermore. there Is a
disposition 10 criticise that section which
permits the President Of the United States
10 prescribe regulations whenever. he de-
sires. requiring corporations 20 give in
formation IN regard 70 their financial
condition in order that they may obtain
the right Of registration or remain on the
registered list
While some Of the leaders are unwilling
I Fa H.
they have examined the bill thoroughly.
il is evident that they regard Il as too
sweeping and comprehensive to be -tlas-
posed Of at this time.
The bill was the outcome OF the first
conference held in Chicago IN October,
1907. under the management Of the Ma
tional Civic Federation. Resolutions
adopted by the conference were presented
20 President Roosevelt in January.
At Speaker Cannon's suggestion. Seth
Low and Samuel GOmpers consulted Rep
resentatiye jenkins. chairman Of the Jldi-
ciary Committee and Representative Hep
burn. chairman OF the Committee on IN
terstate and Foreign Commerce. and as a
result it was decided 10 prepare a bill
along the lines OF the resolutions adopted
at the Chicago conference in order that
Congress committees might have a con-
crete measure upon which 10 hear argu-
ment
Enlist Presidents Aid.
President ROosevelt's aid was enlisted.
and the White House conferences Of this
month followed. Seth Low. who was one
OF the prime movers in the matter. said
last night:
The various interests affected by the
bill. railroad business. agriculture, and
labor, so far as 1 can speak for them,
are in accord in the desire 10 secure for
the business interests OF this country the
relief that the bill aims 10 give. Or
ganized labor, as represented by the
American Federation Of Labor, thinks
that it is entitled TO be relieved from the
Sherman antitrust act entirely. I know
Of no other difference OF opinion as TO
the bill"
II is expected that influential members
Of the administration will urge the pas
sage OF the bin without delay. not only
on the contention that It viii help relieve
business conditions, but for the sake of
the Republican party
This argument will not avail much. IL
anything, among the Congressional lead
ers. who are not inclined to throw any
sop 10 either capital or labor by any
hasty action that may cause trouble in