The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1912-02-26
HIS PLATFORM.
Cummins' Position on Trusts
Outlined in n Bill
Which the Senator introduced
in Congress Today.


Washington, Feb. 2e.-TThe trust
platform of Senator Cummins Of LOVE.
candidate for the Republican noYnina-
ton for president is embodied IN q bill
which Mr.. Cummins introduced today.
designed TO strengthen greatly the
governments antitrust powers The
measure would provide what IL f.
claimed would be the first authority
to limit the size OF corporations and
to guard against unfair or ruinous
competition through protracted un-
dersellinR.
1t would put into being a trades
commission into which the present
corporations bureau would be merged
with all its present powers The pur-
pose in limiting corporations a. ia set
forth is not to prevent operation o.
business in big way with economy
Of production but to limit IL in the
very beginning in such a way as 70
leave room az least for others Of sub
stantially the same magnitude among
which heeithful competition may BE-
preserved
The law would apply only to cor
porations capitalized at S5.Oo0.00O or
more and not interstate commerce
common carriers.
Present Law 60 stand
That the present antitrust law
would not be changed Is made clear
by declaration that whatever n un-
lawful under that law shall continue
unlawful. and that the intent % the
law is TO maintain competitive CON
ditions in trade TO accomplish which
il shall be literally construed.
The trade commission would be
composed of three members TO serve
nine years each at $4,000 a year and
empowered to employ secretaries. ex-
aminers and experts. The commits
sion would inquire into the organiza-
ton and conduct OF the business o.
corporations or persons euwaE-
ed in interstate commerce and
would place before the depart
ment of justice for prosecution any
violation of either this measure or the
antitrust law. II the commission
finds that any corporation employs.
or proposes to employ an extent or
capital which would destroy or pre-
lions. the bill provides either the corp-
mission or the department OF justice.
may bring the necessary suit 10 en-
join. The fleXibility OF this provision
scribe a period within which the vio-
lation must cease.
Excludes Dummy Directors.
The measure would prohibit common
directors and officers among corpora
lions carrying on "A business Of the
same general character and would en-
clude dummy or nominal directors. II
would exclude from commerce all cor
porations which control capital stock
Or exercise any other means OF control
porations capitalized at SO. 100000 ur
more whose directors or officers are on
The board OF directors or among the
officers of banking institutions.
Careful provision is made against
the holding company that is not itself
engaged ia commerce. Common car
riers and manufacturing or producing
would be completely disas-
ISOLATED so that no corporation could
It the same time own and operate a
transportation line and engage in man
featuring or producing. The law
would bar from Interstate commerca
my person or corporation receiving
INV part of a rate or charge Tor
reight transportation. Any long con-
inued practice OF selling conGmcdi- .
les below actual cost 50 as to de-
troy a competitor would be guardei
gainst and a uniform price would be
equired modified only by variations IN
transportation cost when the selling
rice includes transportation and b.
permitting a difference between TIE
rice Of carload lots and less than car
Dad lots. II sections to control va
cred stock and excessive payment f1r
InancinE and promoting become laws.
could not issue securities
n excess of tho money or property
alue received therefor.