The Birmingham age-herald., 1914-01-26
Joint Hearings ON Bill Fa-
vored by Most of the
COnferees
CONDUCT OF HEARINGS
WILL BE DISCUSSED
To Call on Men With Ideas and Ask
for Suggestions-Win Get the
Presidents Ideas as to
Forming of Bill

Washington, January e5.-How to expe-
dite the administration antitrust legisla-
tive programme was the subject of an
Informal conference today at the home
of Senator Newlands of Nevada. chair
man of the Senate committee ON inter-
state commerce. Participating in the con-
ference were majority members of the
committee, Senators pomerene. Robinson.
Thomas, Thompson, Meyers and sauls-
bury and Representatives Clayton, Floyd
and Carln of the House judiciary sub
committee.
Cooperation of committees in both
houses was agreed as essential to quick
results in carrying the programme to
completion and. to this end, the sugges-
tion of joint hearings met with general
favor. Chairman Clayton agreed to sub
nit the matter to the judiciary COMMITTEES
for determination.
The conferees further agreed that there
should be selection in conduct of the hear
ingsi that matters which recently have
been inquired into thoroughly by commit
tees of Congress should be dismissed
briefly and that representative men,
known to have reasonable ideas. be called
on for suggestions. Snch men would in
clude members OF Congress outside the
committees and commercial and indus
trial representatives of the country. It.
also was determined that the commit
tees should seek counsel of Attorney
General McReynods, Joseph T.. Davies,
the commissioner of corporations, men,
bers of the Interstate commerce commis-
sion and the President
Was General Discussion
There was general discussion of anti
trust measures with view to their i'm
provement but no changes were decided
upon. Several suggestions were offered
relating TO n proposed amendment pro-
hbltng holding companies, but this also
was left for future decision. An effort
will be made to begin hearings next week
The aim of the committees. 1t was said.
would be TO have the programme ready
for Congress by March :.
Further joint conferences of commit
tees in charge of trust legislation will
be held tomorrow and the House judi
ciary committee will meet Tuesday 10
pass on proposed plans for hearings on
the bills submitted
Besides plans for hearings, the SUBJ
committee, comprising Representative
Clayton. Representative Floyd and Rep
resentative Carlln. purposes to confer
with the President and administration
leaders on an amendment to the trade
relations bill to prohibit holding COM
panies. 1t was concerning this feature
that President Wilson has said he still
is open minded My mind is to let.''
the President said recently. In his meg
sage on trusts the chief executive re-
ferred TO this feature In an interroga-
tory form;
Prohibit Holding Companies
we are agreed, / take 1t. that hold
ing companies should he prohibited, but
what Of controlling private ownership OF
individuals or actually cooperative groups
of individuals? Shall rrivate owners of
capital stock themselves be suffered to
be, In effect holding companies? We do
not wish, ! suppose, to forbid the pur-
chase of stocks by any person who pleases
to buy them in such quantities as he
can afford. or in any way arbitrarily TO
limit the sale of stocks of bonafide pur-
cha sers.
shall we require owners of stock, when
their voting power In several companies
which ought to be Independent of ono
another would constitute actual control.
to make election In which of them they
will exercise their right to vote? Tho
question | venture for your consldera-
ton"
Administration leaders. therefore, stlr
are considering this phase of the SUBJ
ject.
The House interstate commerce and
foreign commerce committee is expected
to meet this week to take up the inter-
state trade commission bill. Chairman
Adamson plans to study carefully TIM
measure already submitted by the judi
clary subcommittee. This committee and
the Senate interstate commerce commit
tee also will begin deliberations on tho
measure to give the interstate commerce
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