The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1911-07-06
u. S. Control
OF Industries
senator Newland Introduces Bill Gre.
atins Interstate Trade Com
mission.
NOTIONS SIMILAR TO
COMMERCE COMMISSION
would Control Big Corporations Just
as the Railroads Are Now
Supervised.

WASHINGTON. d. C.. July 5.-An
Interstate trade commission OF five
members TO control industrial corpora.
tons. as the Interstate Commerce
commission controls the railroads
was advocated in bill introduced ~.
day by Senator Newland. OF Nevada
Atr. Newland, in n statement accom-.
panying that measure. contended thar
the STANDARD OIL and Tobacco de
clsions and the recent government re.
port on the steel industry demonstrates
the need OF 'an independent. quasi.
judicial and administrative tribunal OF
great character and dignity as far re-
moved from partisan control as are
me courts. The plan is 10 apply only
10 industrial corporations engaged In
Interstate trade whose annual recetpts
exceed $1,000. 900
Mr.. Newland's statement was Nv
wa! OF urging the passage OF a hill
Whlch he introduced providing for
thls commission. His measure would
separate the bureau OF corporations
from the department OF commerce
and labor. and merge the bureau into
a commission OF interstate trade. with
'he commissioner OF corporations
member or the new commission. II
would require all tEs iuAGrGIal cor
porauonS having receipts exceeding
S'.eo'.OoO 70 make satisfactory state.
ments as TO capitalization. finances
ana operations, such corporations to
be known as United States Regis
tered companies. II proposes TO mako
lack OF such registration an "indica-
tion OF something wrong"
Regulation Inevitable.
Mr Newland declared that II such
legislation had replaced or aided the
sherman antitrust act over twenty
years ago this country would have adj.
vanced as far in the regulation OF in.
dustrial organizations as 10 has In rail-
poad regulation lie referred 10 re-
cent expressions OF Mr. Gary. OF the
Steel corporation. and others az indi.
eating that the great corporation man.
ayers recognize that public regulation
IS now Inevitable.
Mr. Ncwland said his plan proposes
that frequent reports be required
from the corporations. Information OF
public interest 20 be published from
time 70 time: the commission 20 be
non-partisan. not more than three
members 70 be OF one party. and the
term % Office 10 be ten years
Mr Newland said his plan makes
no attempt 20 give too many powers
ot correction or punishment. nor tho
power ~ fixing prices but its powers
may De enlarged as experience shall
Indicate
The measure proposed hv Nr New
land Includes these provisions. The
commission may az any time cancel
the registration ~ any registered cor
poratiOn for improper financial organ
izatiOn. oppressive or unfair methods
or competition. acceptance OF railroad
rebates. al 90 allow access 10 rec
Ords. Or non compliance with any iudi-
clal decree rendered under the Shcr.
mau art n may IN extreme cases.
for auch ofonseg. dohar tho oTcudlne
corporations from engaging in inter.
state commerce. and it may require
correction % over capitalization. ita
work. according % Mr. Ncwlnnd. is
not o. he complicated with the admin
istration ~ tho antitrust law.