The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1911-07-06
GDVERlIE|l T[ |
CONTROL. R.' ! |. THE
INDUSTRIES
SENATOR NEWLANp, OF NEVADA
INTRO opucEs. A MEASURE GRE.
ATlNc INTERSTATE TRADE
COMMISSION.
REgILAIIQN INEVITABEE[
l5E WOULD HAVE BIG coRPoR.
ATIoN Directed JUST AS THE
RAILROADS ARE NOW SUPER.
NIsEp.

WASHINGTON, d. G., July 6-An
interstate trade commission Of FIVE
members to control Industrial corpor.
ations, Jas the Interstate Commerce
Commission controls the railroads,
was advocated in a bill introduced to.
day by Senator Newland, of Nevada.
tSewland, in a statement accom-
panyfng that measure, contended that
the Standard OH and Tobacco de-
cisions and the recent government re-
port ON! the steel industry demonstrate
the need Of Fan independent, quasi.
judicial and administrative tribunal OF
great character and dignity as far re
moved from partisan control ar are
the courts" The plan is to apply
only to industrial corporations engag.
ed IN interstate trade whose annual
receipts exceed $5,000,000.
Mr. Newland's statement was by
way Of urging the passage of bill
Which he Introduced providing for
this commisslon. His measure would
separate the bureau of corporations
from the department OF commerce and
laboE and merge the bureau into a
commission OF interstate trade, with
the commissioner Of corporations a
member of the new commission. 1t
would require all the industrial cor.
pofationsS having receipts exceeding
$4,000. 600 TO make satisfactory state
ments as I'd capitalization. finances
ana Operations such corporations to
q kn0WM as gunlted States Regis.
tered c1ldpalles. 1t proposes to
make lack Of such registration an
eindica ton OF something wrong,
Regulation Inevitable.
Mr. Newlana declared that il such.
Hesitation had eplaced or aided the
Sherman alttttftise act over twenty
yeafs go, thisconntry- would have ad.
yanced 4as 1tf8fi the regulation OF In
gdiistfi ittl fgahRat as 1t has in rail-
f0ad guIa tipn. He referred to re-
cent III pfessioGs Of Mr.. Gary, of the
Steel corporations, and other as indi-
eating that the great corporation man
ayers aec6gt gttiza that public regulation
;iii now inevitable.
Nj. Sewland said his plan proposed
that frequent reports be required
from the corporations, information Of
public interest to be published from
time to time; the commission to be
non.partisan, not more than three
members to be Of one party, and the
term OF office to be ten years.
Mr.; Newland said his plan makes
no attempt to give too many powers
6f correction or punishment, nor the
power Of fixing prices, but Its powers
may be enlarged as experience shall
Indicate.
The measure proposed by Mr.. New
land includes these provisions: The
commission may at any time cancel
the registration OF any registered cor
pofati6l for improper financial organ
izatlpn; oppressive or unfair methods
81 competition acceptance of railroad
rebates, refusal to allow access TO rec
ofds; or noncompliance with any judi
3cial decree rendered under the Sher'
man ACT. mpy in extreme cases,
fof such offenses, debar the offending
corporations from engaging in inter.
state commerce, and 1t may require
correction Of OYercapitali2ation.. Its
work, according to Mr.. Newland, Isl
Ii6t to be complicated with the admin
istTntlon Of the antitrust law.