The Bridgeport evening farmer., 1910-05-13
TT FULLY EXPLAINS
THEIR VOTES


 The proposed amendment0o the Ad- ministration railroad bill, which was rejected in the House with the aid or four Connecticut votes. including that of Mr. Hill, is as follows:
 Sec. 12 That no railroad corpora tion which Is common carrier sup joct to the act to regulate commerce, approved February 4. 1887. as amend ed. shall hereafter acquire, directly or ildirectly. any interest of whatsoever Kind in the capital stock of any rail- road or water-carrier corporation, or purchase or lease any railroad, or Wa ter line which is substantially com cetitive with that of such firSt-named corporation. nor shall any water-car- s yier corporation engaged in interstate commerce hereafter acquire. directly or indirectly. any interest of whatso- ever kind in the capital stock of any railroad corporation, or purchase or lease any railroad, that is subject to which is substantially competitive with such water line: nor shall any such railroad or water-carrier corpo- ration have after the 1st day of July, 1e11s as an officer or a director any person who may also be at the same time an officer or director of any such competiug corporations; and any cor po-afion which acquires any interest sn capital stock, or which purchases or leases a railroad or water line con- 1raTy to this section, or which holds or retains any interest in capital stock or in a railroad or water line hereafter acquired in violation of this section, or which shall have and retain as an officer or, director after the 1st day of July, 1911, any person who is also an officer or director of any such com qaing corporation. shall be fined $5.- 900 for each day or part of day during which it holds or retains such interest unlawfully acquired, or retains such prohibited officer or director.
 Amy attempted acquisition of an in terest in capital stock or the purchase or lease of railroad or water line, contrary to this section shall be void s and may be enjoined by any court of competent Jurisdiction at the suit of the United States; and the holding or retention of any interest in capital stock or the. acquisition of a railroad or water line contrary to this section may likewise be enjoined in any court of competent jurisdiction at the suit of the United States: Provided. how ever. That any railroad or water car Tier corporation. being a common car rier., as aforesaid. may lease or pur- chase any railroad or water. line, or may acquire any interest in the cap ital stock of the corporation of any railroad or water line. that is not sub Stantialiy competitive, if the public welfare vii be thereby promoted. but no such purchase or lease shall be made except upon application to the Interstate Commerce Commission, and upon an order of said commission permitting such lease or sale. The Interstate Commerce Commission is hereby given Jurisdiction to hear and determine such applications and to take all proper proceedings thereon. The United States shall be party de- fendant to such petition. Notice of the filing of such petition with the commission shall be served upon the United States in such manner as the commission may by general or special order provide; and the United States shall be- represented in such proceed ings by the Attorney-General or such general or special counsel as may be directed by him or by the commission. The Interstate Commerce Commission shall make no order permitting the sale of any capital stock of one rail- -oad or water-line corpora ton to any other railroad or water-lire corpora 1ion- or common carrier. as herein de- fined. or permitting the sale or lease of any water line or railroad to any ether such common carrier, unless it shall find that such lines are not sub- stantially competitive. and unless it shall also find that the public well fare will be promoted by such sale or lease; Provided further, That nothing berein contained shall be construed to affect in any way any suit or action pending at the passage of this act. nor the rights or liabilities of any party thereto, nor to authorize or validate the Acquisition by a railroad corpora tion,. being a common carrier. subject TO said act to regulate commerce. as amended, of any interest in the capital stock, or the purchase or lease of the railroad or water line of any other railroad or water carrier company in violation of any act of Congress in- ciuding the act approved July g. 1S90 entitled An act to protect trade and commerce against unlawful restraints and monooofies.
 This amendment was clearly intended to prohibit any such absorptions as would kill competition. and was nat urally not favored by the railroads Quite as naturally. the Connecticut members voted against its passage.