The San Juan islander. [volume] (Friday Harbor, Wash.) 1898-1914, 1909-12-03


outline of the legislation affecting cor
porations which will be asked of Con-
gress this winter by the administra-
ton. At the request of President Taft
and as a result of unremittant work
during the past three months, Attor-
ney General Wickersham has prepared
three bills embodying the presidents
views and containing many recon-
mendations for carrying them into eff
feet. They are:
A bill to amend the interstate COM
merce law.
A bill to amend the Sherman anti
trust law.
A bill to provide federal charters for
corporations.
gress, especially in the Senate, against
the practise of cabinet officers formu-
lating legislation, it is expected that
friends of the administration will be
|selected to father the bills in that body.
All summer at conferences, the gen.
eral character of the measures was de-
cided upon and ever since, when he
was supposed to be enjoying a vaca-
ton on his Long Island farm. AttOr-
ney-General Wickersham has been
putting the ideas into legislative shape.
The bill for the amendment of the
interstate commerce law contains the
following important provisions:
The creation is proposed of sep
arate interstate commerce court, to
consist of five members, to sit in
Washington and to be the only court
| to consider petitions in favor of or
against orders of the interstate COM
cept on constitutional questions, and
| then only to the supreme court of the
United States. Any one of the five
judges may be empowered to issue an
order staying proceedings of the inter
state commerce commission for 60
days, but thereafter no Injunction is
to be allowed against the order of the
commission without the consent of the
entire court.
The commission is to be given the
power to entertain complaints against
unjust classifications of merchandise
for transportation and to readjust them
when necessary.
| When a new rate classification is
proposed the commission is to be au-
thorized to suspend it, provided that
complaint is made within 80 days OF
the date of the order that the rate OF
classification is unjust.
| Power is to be given to the commits
sion to suspend, modify or annul any
changes in the rules or regulations is
sued by carriers which impose undue
burdens on shippers.
Connecting carriers are to be re-
quired to give true rates and shippers
are to be given the privilege of desig-
mating the route over which their ship
ments shall be carried to the destina'
ton beyond that first carrier.
Railroads doing an interstate bust
ness are to be prohibited from holding
stock in any competing road.
No railroad is to be permitted to is
sue any additional stock or bonds ex
cept with the approval of the commits
sion, and then only for price not less
than par for stock and not less than
reasonable market value for bonds
The new securities, thus approved
are to be sold for actual cash or given
in payment for actual property or serv.
ices.
Railroads are to be permitted to
make agreements among thems elves
upon traffic rates subject to the ap
proval of the commission.
The bill which Mr.. Wickersham has
prepared amending the Sherman anti
trust law would limit it's definition of a
crime to a conspiracy, or combination
or control, entered into with actual Gin
tent" to monopolize or suppress com
petition in interstate trade.
The remaining measure provides for
the national incorporation of all cor
Iporations doing an interstate business
whether they are railroads or indus
trial companies.
It is claimed for the first of these
bills that the interstate commerce
court which it proposes to establish
would greatly expedite business by en-
aiding the speedy adjudication of dis
Iputes between shipper and carrier. The
other provisions speak for themselves
but it is expected that special stress
will be laid upon those which prohibit
one road from owning stock in an
other and give to the interstate com
merce commission supervision over flu
ture issues of securities. These regu
latoins, it is believed by the admins
tration, would prevent repetition OF
e. H. Harriman's exploits in the rail
Iroad world and remove the danger OF
a lone man control of the railroads OF
the country
Discussion of these subjects will
Iprobably consume large portion OF
the presidents annual message to Con.
gress. Before writing these sections
However, the president expects to con-
fer not only with those members of his
admins tration who will be immedi-