Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1912-02-09
BILL TO PREVENT MONOPOLY
Martin of South Dakota Would
Have Industrial Commission.
MEMBERS NAMED BY PRESIDENT
Provision that Corporations OF over
Million Dollars Capitalization
Must secure License aud De
subject TO Reguiation.
tFrom a Staff Correspondent !,

tFrom Staff CofrespondentO
WASHINGTON. d. c.. Feb. s--tspeeial
Telegram. l-Representative Martin OF
South Dakota today introduced a bill
designed for the regulation OF corpora
lions The bill requires that all cor
porations having q capitalization Of 81
oMcoo or more engaging in interstate and
foreign commerce after January l. 1913.
must first obtain a license from the In
dustrial commission created by the act.
An Industrial commission Of five mem
bers is created In the Department OF Com
merce and Labor. with equal dignity and
power regarding the control OF industrial
corporations as that held and exercised
by the Interstate Commerce commission
regarding common carriers.
The commissioners are to be appointed
by the president. with the advice and
consent OF the senate. and not more than
three commissioners can be appointed
from the same political party. Their
commissioner vacatlng each year, and
the salary OF the commissioners Is to
be $1,000 per annum. They are given
full power Of investigation. to subpoena
witnesses and compel testimony. and In
all respects TO consider and determine
questions within their jurisdiction. with
the same force and ieffect n now exer-
eised by the Interstate Commerce com.
mission In matters Of transportation.
Although within the Department Of
Commerce and Labor for matters OF con-
venlencs and to avoid duplication OF
work now authorized 20 be done By the
bureau OF corporations. the Industrial
commission is. nevertheless, TO be an
independent body and will make Its re-
ports direct TO congress.
Proof Against Monopoly.
Before a corporation can OBTAIN a
license to engage in Interstate and for
eign commerce Il must show to the salts
faction Of the commission that Il Is not
over capitalized and that II II not an
unlawful trust or combination In VIOLA
ton Of the snti-monopoly law.
II. after obtaining license. the corpora
don shall violate the provisions OF the
antt-trust laws OF the United States, this
will work forfeiture OF Its right to en-
gage in interstate commerce. which for
feiture must be enforced by the federal
courts.
The commission In given authority 10
suspend the license OF any corporation II
upon investigation and hearing Il shall
find that the corporation has become un-
reasonably capitalized or Is operating In
violation OF the anti-monopoly laws.
II is made misdemeanor for corpora.
tons to engage in interstate commerce
either without a license or during the
suspension Of license. and for such offense
the corporation and It's officers may be
fined not to exceed $1,000 and imprisoned
not to exceed one year. In case of con-
tinulng violation, each day shall be
deemed q separate offense.
Annual reports are required OF each
corporation engaging in interstate COM
merce, covering such matters pertaining
TO their operation, capitalization and
business methods as the Industrial COM
mission may require.
Westernerz at Washington.
Senator Brown this morning presented
c. ID. Ayres, wife and daughter OF Cen
trail City, and Isaac Pollard. daughter
and granddaughter OF Nehawka. the lat
ter guests OF Mrs. w. T. Thompson. wife
OF Solicitor Thompson o. the treasury, to
President Taft.
II. l.. Hargreave and wife OF Lincoln
are in Washington. guests Of cotter
Bride.
James Scout OF Kearney is In Washing
ton, en- route TO Virginia, where he is In
terested IN some real estate. farming
lands.
General J. C. Gown of Omaha arrived
in Washington today on matters In the
supreme court.
Representative Burke this morning took
Mayor s. 8. Stephens and 8. X. Grigsbury
10 the White House and introduced them
to the president
Colonel Seth Bullock of South Dakota
was among those who called on President
Taft today.
Representative Stephens today intro
introduced a bill providing for the dis
posal OF the unallotted land on the
Omaha Indian reservation. This is
dupAcats Of q bill introduced in the SEN
ate by Senator Brown.
Mrs. Sloan. wife OF the Congressman
from the Fourth district. and their
youngest son. william. arrive In WASH
ington tomorrow to remain throughout
the session with Mr.. Sloan. They have
49,. IN. rtraanfs az tha unfal nawav