Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1910-01-07

Messfs. +. I. Russell ana n ~. DRUM
bsck for the defense, and Mr.. Brent will
deliver the closisg argument.
The Presidents Message.
Washington, jar. THE opening
gun OF President Tsil's campaign for
constructive legislation was fred today,
when bis message recommending amend.
ments to the interstate commerce law,
aud legislation supplementary to the
Sherman antitrust law was read In
Congress.
Foremost among the presidents rec.
concentrations are: "Unlted Slstes Court
of Commerce." the prosecution and de-
feuse of cases brought by and against the
Interstate Commerce Commission by the
Department OF Justice instead OF by
special attorneys; 9 provision torbiddlug
railrosds 10 acquire capital stock In com.
petiug, lines; provision forbiddlng the
issuance OF capital stock without pay.
ment of the par value unless Il lie
founded on bona 6ds physical yslua Ion
of property; and voluntary Incorporation
for combinations Engaged In interstate
commerce.
In outlining the jurisdiction Of he
proposed court ofcommsrce the president
provides that practically oil cases excsp!
those involving the collection OF 8
penalty or the iphIction Of criminal
punishment. involving the Interstate
Commerce Commission, shall be triable
by the court, and that Its decision shall
be reviewed only upon appeal to the
United States Supreme Court. The az
poIntmeDt OF Eve additional judges OF
the United States Circuit Court, whose
sslsry while sitting 10 commerce court
shall be $40, 900 year Is also recon-
mended.
The president also recommends that
the Interstate Commerce Commission be
given the power to alter rates submitted
by carriers, and to prescribe the maxi
mum tate In case rates submitted sre
iouhd TO DO exorbitant. II however The
commission fails to investigate rate
submitted, within sixty days, the rate
should take effect The message also
recommends that shippers be given the
right to select one Of two or more pos.
sible routes for the shipment OF their
goods.
Ia outlining his court OF commerce
the prealdent provides that the court
should be held at the capital but should
be empowered to hold sessions anywhere
in the United States should 1t be neces-
ssry.
The handling OF interstate commerce
by the Department OF Justice Ia neces.
ssry The president says because, the pres
emit system confuses the judicial execu.
tive and legislative functions In one
body, the Interstate Commerce Commits
siop, and robs 1t OF its judicial attitude.
The president says that the provision
forbiddiDg railroads from acquiring
stock In competing lines. should not be
made applicable to roads now holding
more than so per cent of competing
lines, II such roads desire to complete
the purchase Of the outstanding stock Of
the already controlled road,
Stock and bond issues are discussed
at length 10 the message, and recon-
mends that legislation he passed for.
bidding the Issuance of stocks or bonds
until heir full par value shall have been
paid to the issuing corporation. Any
Issues of stocks or bonds made BY corpo.
rations recognizing under the proposed
statutes are recommended to be placed
directly under the supervision OF the
Interstate Commerce Commission. These
provisions strike to the very root OF the
stock watering evil.
The presidents accommodation for a
federal incorporation law outilres a vol.
untsry measure, bat one, which be says
will force big corporations to one OF
three things:
"First-They must resolve themselves
into their component parts in the differ
eat states, with consequent loss OF cap
itsl and organisation.
"Sscoud-In defiance Of law and un-
der some secret trust they must attempt
to continue their business 10 violation OF
the federal statutes, and thus bring on
an inevitable criminal prosecution.
"Third-They must re.orgauiz' aud
accept 10 good faith the federal charter
| suggest"