The Detroit times., 1913-01-20
ACKNOWLEDGMENT JERSEY
WOULD JAIL TRUST HEADS
President-elect Urges Passage
Of Stringent Measures Be-
fore He Retires
AIM AT PRICE-FIXING
AND RESTRAINT OF TRADE
Taken To Forecast Attitude VIII
SON viii Assume On TAX
ing Presidency

TRENTON, N. j., Jan. 20.-Trusl
magnates will get little satisfaction
from the antitrust attitude OF Presi'
dent-elect Woodrow Wilson as defined
today in announcing mis- position 10
the home legislature.
Tonight seven bills, fathered by the
next president, in his capacity as gov
ernor OF New Jersay will be introduce
ed III the Legislature. They Will be
enacted, II was declared this after
noon, IL the governor has to personal
ly whip the legislature into line TO
secure favorable action.
Because OF this assertion 1t was
generally accepted here this after
noon that the bills indicate the attl.
tude the governor will take on The
trusts, when he gets TO Washington.
Explaining the bills, Edward
Walker, head OF the chancery court,
the highest in the state, who prepared
then. under the direction of the gov
ernor, said:
"TIese acts are designed TO put ar
end TO trusts and monopolies under
the laws OF New Jersey, and Governor
Wilson confidently predicts that they
will accomplish that much desired re-
suit. They 'emanated from Governor
Wilson and have been drawn Tor the
purpose OF preventing monopolIes BY
corporations, firms and individuals
The bills make violation OF the pro-
posed laws a misdemeanor, which, IN
New Jersey, is punishable by lmprls
onmeDt for not more than three years
OR a fine of not more than $1,000.
The measures provide that an!
combination between two or more cor
porations, firms or persons 10 create
restrictions in trade, limit production
prevent competition. transportation
OF or selling, fix prices for purpose Oh
trade-control or make any secret
oral agreement, shall be mis-
demeanor.
One bill provides that bona nde
values in money or property must
stand behind all stock issued; that
stock shall not be issued against al
ticipated profits: that when stock IS
issued In exchange for other stock no
more shall be issued than was actual
ly paid for the other stock; that no
purchase may be made OF concern
of different character from that DO
ing the buying II also prohibits one
corporation buying into another Tor
the purpose of restraining trade or
acquiring monopoly.
Another pill makes the individual
officers and directors liable for VIOLA
lions OF the proposed laws. Another
intended TO prevent holding com
panies, provides that hereafter no
corporation shall buy. hold, sell or
assign the securities of any ether eeF-
poration. Any corporation which now
comes in that classification Is pre-
hibited from voting such securities
In the future.
sIn this way, stock already acquir-
ed IL saved" said Walker, but pre-
vents any corporation from engaging
in c holding transaction In the
future
Mergers are to be allowed only I'M
der the eye OF the public utilities
commission OF the state. Discrimina.
ton in prices in various sections OF
the state-charter due allowance Is
made In transported charges--is
prohibited.
do you think these bills Will be
passcd?" Governor Wilson was asked.
II do" he replied.
EVIL they prevent the organiza
ton OF monopolies In New Jersey"
Il nope so.'