The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1908-04-14
They, However, Are Inevitable
And Often Economically
Advantageous, Say Local
Business Men.
HEPBURN BILL BOTH CON-
MENDED AND CRITICISED.
Several Features Are Worthy,
Thinks Commercial Club
Committee, But Others Are
Not So Much So.

Combinations for industrial or COM
mercial advantage are inevitable and
often economically advantageous. but
are liable at any time to become op-
pressive and a public menace. This
statement is held to be a fact by the
members of the Richmond Commercial
club, who last evening adopted the re-
port of the committee on legislation in
regard to the Hepburn bill. The Ma
tional Civic Federation had asked for
consideration of the measure by the
local organization. The committee S
report, both commends and takes eX-
ceptions to the bill.
The report, which was adopted, is as
follows:
Richmond. Ind, April IS, 1907.
To the Commercial Club, Richmond,
Ind.
Gentlemen:-Your committee to
which was referred the consideration
OF the Hepburn bill, prepared by the
Civic Federation, respectfully reports:
The bill, the argument of the Hon
Seth Low in its favor, before the house
committee, the message of President
Roosevelt, and the adverse criticism of
Mr.. Augustus Mason, in the lndianapo-
lis Star. were carefully examined and
considered.
To understand the bill, the common
law and the Sherman Act must first be
considered BY the common law, con.
tracts and combinations in restraint OF
trade were illegal, but no sufficient
| penalties were provided. BY the Sher.
man Act, such contracts and combina
tions, when affecting interstate com
merCe We're not only declared illegal
/ but were made subject to certain pen
alties and to three-fold damages. This
applied to all contracts in restraint OF
! trade, whether reasonable or unrea
| sOnable. advantageous or injurious
! Under the tendencies of modern indus
| trial development, some such cOmbi
nations are inevitable and they are
often economically advantageous, but
they are liable at any time to become
oppressive to the public or to compel
itors. When they become oppressive
the men responsible for this. ought tC
! be punished and the corporations sub
| jected to efficient government control
| The Sherman Act was defective in
making no distinction between reason
able and unreasonable restraint OF
trade. and in not providing a scheme OF
effective control where the contract ol
combination was unreasonable and Op
| pressive The first of these defects
will be in a measure remedied by the
proposed Hepburn bill, the second will
not.
The bill provides as to corporations
engaged in interstate commerce, thai
any such corporations. may if it desires
| (rothing is compulsory register, BY
making a written statement, giving
such information concerning its or
ganization. financial condition. con
tracts, and corporate proceedings, as
may be prescribed in regulations made
| by the president. Common carrier:
are to register with the inter state
commerce commission and other cor
porations with the commissioner o.
corporations. 1t is believed that these
provisions will insure publicity as tC
many important matters.
UnreasonabIeness Shown.
If a registered corporation hereafter
proposes to make a contract or com
bination. which may be in restraint o.
trade it is to file copy with the com
missioner of corporations Tor the inter
state commerce commission in the cast
of common carriers and within thirty
days the commissioner with the con
| currence of the secretary of commerce
ard labor Tor the interstate commerce.
commission in the case of carriers
may enter an order declaring that such
contracts or combinations are in un
reasonable restraint of trade. In tha
case, as we'll as in the case where {