The Morris County chronicle. [volume] (Morristown, N.J.) 1877-1915, 1910-01-11

Washington, D. president Taft
sent to Congress his long delayed
message on interstate commerce and
antitrust legislation. In it he strikes
at the existence of holding corpora
tions and oppressive trusts. He rec
ommends the formation of Court of
Commerce to review railway cases
and Federal corporation bill to reg
ulate trusts.
The President does not advocate
the repeal of the Sherman Antitrust
law or of the Interstate Commerce
law; on the contrary, he believes in
strengthening and simplifying both
these laws.
The President comes out fatty for
complete Government control and
supervision of railroad corporations
and trusts. He announces that it is
his purpose at an early date to in
struct the Department of Justice to
Investigate all trusts with respect to
which there is a reasonable suspicion
that they were illegally formed or
are being illegally conducted.
The President, however, enjoins
caution on Congress lest it disturb
the confidence of the business COM
munity and produce a halt in pros
perity
The President deals in this COM
munication with the two great issues
omitted from his annual message, the
Interstate Commerce and Antitrust
laws. In message of some ten thou
sand words he deals exclusively with
both subjects. Leading recommends
tions as to the former include:
A UNITED States Court of Com
merce," to have original Jurisdiction
over classes of cases which are speci-
fed, thus relieving the Interstate
Commerce Commission of certain
tabor and an homogeneous combination
of functions.
Permitting limited railway pools,
subject to all the provisions of the
Interstate Commerce act.
Protection of the shipper in the
matter of rate quoted for proposed
shipments, by financial penalties for
refusal or omission by carrier to
quote proper rate
Authority to commission to act. on
Its own initiative, in investigating
fairness of rates or practices, and to
pass on classifications of commodities.
Power to the commission to hold
up for limit of sixty days proposed
increases of rates until it shall have
passed upon their reasonableness;
and II found unreasonable, to forbid
the increase or fix a maximum.
Giving shippers the right to desig-
nate through routes over which their
shipments shall pass.
Forbidding railroads to acquire in
terest in any competing railroad or
other competing corporation; but
wi tof "a a. ~;
ship already acquired
Forbidding issuance of railway
stock or bonds unless par value has
been received for them-or, if at less
than par value, the reasonable market
value as ascertained by the commits
sion; the same to apply where the
consideration received is services or
anything other than money. Also
preventing improvident or improper
Issue of notes.
Giving the interstate Commerce
Commission power to determine upon
uniform construction of safety appli-
ances on railroads, and facilitating
the serving of process in suits under
the Employers Liability act
AS to the Antitrust law, the Pres
ident recommends
Voluntary Federal Incorporation OF
Interstate Industrial concerns, with
prohibition of the holding company
evil.
Endorsement of combinations of in
dustrial capital where these are de-
cided not to constitute harmful
trusts; thus relieving certain classes
subject to unjust condemnation under
the existing law.
Several pages of the message are
devoted to an calculation OF the
Sherman act with view to showing
that its inhibition does not lie against
combinations of which the main pur-
pose is economy of administration
and increased efficiency. destruction
of competition being merely Incl
dental; but only against those that
are formed to obtain the advantages
of monopoly in whole or in part by
improper means.
Mr.. Taft is careful to point out that
his Federal incorporation plan does
not repeal the Sherman Antitrust
law or permit wrongs which that
statute prohibits He defends the
constitutionality of such a measure
He declares emphatically that the