The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1909-04-08
MARTIN STARTS Big BILL
South Dakota Congressman Imtroduc
ed q Bill to Regulate Corpora
lions ON Broad Lines.

house OF representatives when ne IN
PRODUCED "a measure to regulate orr
porations, joint stock companies, etc,
engaging in the Interstate and for
eign commerce in food and fuel sup
plies. The bill places restrictions on
these corporations which will result
in great benefit to the people. 1t is
presented in full below:
A bill to regulate corporations,
joint companies, and other %associa-
tions engaging in interstate and for
eign commerce in food and fuel sup
plies.
Be it enacted by the Senate and
House of Representatives of the Unit
ed States of America i'm Congress as
sembled, that every corporation,
joint stock company, and other asso-
citation, except corporations doing
exclusively the business of common
carriers, engaging after January first,
nineteen numbered and ten, in inter-
state or foreign trade or commerce,
or trade or commerce between Ter
ritories, or between any Territory
and the District of Columbia and any
State, in cattle, sheep, swine, dressed
meats, meat products, poultry, poul-
try products, dairy products, grain,
cereals, breadstuffs, coal, oil, lumber,
or other food or fuel supplies, shall
first obtain from the Secretary of
Commerce and Labor a license or
franchise permitting it to Engage in
such trade or m
Section 2. That before such license
or franchise shall be issued, such
corporation, joint stock company, or
association shall show to the salts
faction Of the Secretary of Commerce
and Labor that the said corporation,
company, or association is not over
capitalized, but that it's alleged cap
ital represents only a fair valuation
Of the rights and property actually
owned and possessed by it,; that it
Is not an unlawful trust o rcombina-
ton. or operated in violation of the
laws Of the United States, and that
it is not its purpose to conduct a
business in violation of the present
or future laws of the United States;
that 1t has not entered into any con
tract, combination in the form of
trust or otherwise, or conspiracy, in
restraint of trade or commerce
among the several States or Territor-
les, or with the. District of Columbia,
or with foreign nations, and that it
Is not It's purpose to enter into such
contract, combination, or conspiracy;
and that 1t Is not monopolizing or
Attempting to m%onopolize or combin-
Ing OF conspiring with any other per-
son, corporation, company, or ASSOC
citation to m%onOpoliZe any part of the
trade or commerce herein mentioned,
and that It is not its purpose to mo-
nopolize, or to combine or to con-
spire ct monopolize any part of such
trade or commerce.
Sec. 3. That the Secretary of Com
MERGE and Labor Is authorized to is
sue licenses and franchises to corpor-
atoms, joint stock companies, and
other associations to engage in such
trade and commerce, upon proper
application and satisfactory show
ing, as herein provided, and such Ii
censes or franchises shall continue in
force during the legal life of such
corporations, companies, or %associa-
tons, respectively, unless sooner for
teited or suspended, as hereinafter
provided. The Secretary of Com
merce and Labor is authorized to es-
tablish a schedule of reasonable fees
for the examination of such corpor-
ations, companies, and associations,
and for the issuance of such licenses
or franchises, and to charge and col
lect the same. The amounts collect
ed for such charges shall constitute
~ 0H-H s1Lra
a fund to be expended for the pro-
motion Of the work of the Bureau of
Corporations Of the Department of
Commerce and Labor.
Sec. 4. That between the first and
tenth days Of July in each year, and
at such other times as the Secretary
Of Commorco and Labor NAV rauuire
every corporation. joint stock COM
pany, or other association engaging
In trade or commerce. as herein pro-
vided, shall file a report In the Office
Of the Secretary of Commerce and
Labor. signed and sworn to by its
president, Its treasurer, its general
manager. and a majority of it's di-
rectors. or by the persons exercising
the powers usually exercised by such
officers and directors, setting forth
49,