Iron County news. [volume] (Hurley, Wis.) 1913-1950, 1914-01-31

ttOh VI the act uuueF tue same CONQi
tons and principles that injunctive re-
lief against threatened conduct which
! viii cause loss or damage is granted
by courts of equity.
II is required that a proper bond
shall be executed against damagtn for
an injunction improvidently granted,
and it must be shown that the danger
of irreparable loss or damage ia i'm
mediate
Hits interlockine Directorates.
Concerning directorates, the bin on
that subject. which is TO become eff
fective two years from date Of ap.
proval OF the act. provides:
No person engaged as an inii7id-
ual or as q member of a partnership
or rs a director or other officer OF q
corporation in the business OF selling
railroad cars or locomotives, or rail-
road rails or structural steel. or min
ing or selling coal, or conducting a
bank or trust company. shall act as
director or other officer or employee OF
any railroad or other public service
corporation which conducts an inter
state business
No person shall at the same time
be a director or other officer or EN-
ploye in two or more federal reserve
banks, national banks or banking as.
sociations, or other banks or trust
companies which are members OF any
reserve bank; and private banker
"A hn &c IA
state bank or trust company not oper-
ating under the provisions of the re-
cent currency law shall not be eligible
TO serve as director in any bank or
banking association or trust company
operating under the provisions OF the
law"
Violation of these sections is made
punishable by fine OF 500 day, or
by imprisonment not exceeding one
| year OF both
u any TWO or more corporations
| have common director or directors
! the fact shall be conclusive evidence
! that there exists a real competition
! between such corporation and such
| elimination of competition shall be
| construed as a restraint of interstate
trade and be treated accordingly.
The trade commission bill provides
for commission of five members. with
| the commissioner of corporations as
! chairman, and transfers all the exist
| ing powers OF the bureau of corpora
lions TO the commission
The principal and most important
| duty the commission besides conduct
ing Investigations wiH be to aid the
courts when requested in the forma-
ton Of DEGREES of dissolution
With this in view, the bill empow
ers he court to refer any part of pend
( ing litigation to the commission, in
| Guiding The proposed decree. for infor-
nation and advice.
Much Criticism for Bills.
The trust bills as framed will be
the subject of sharp criticism on the
part of progressives OF all parties who
claim they do not go far enough It
! viii be declared that the definition Of
monopoly remains inadequate that the
| prohibition Of unfair trade practice
! does not cover this evil In our econ
omic life that interlocking stock con
troll is not covered and that the pow
ers Of the proposed trade commission
are insufficient
II is interesting to note that the
proposal to place the burden Of proof
! upon combination believed TO be VIC
lating the Law has been omitted No
| attempt is made TO prevent or destroy
monopoly based on patents The great
est difficulty experienced in the effect
i've enforcement OF the law has been
found TO be in the unwillngness of
the courts 10 imIose Jail penalty. 1t
remains optional under the proposed
measures whit the courts to iue or
imprison
Trade Board May Disappoint.
In connection with the trade com
mission President Wilson declared in
his message that the country de
mands such a commission only as an
indispensable instrument OF informa-
ton and publicity as a clearing house
for the facts by which both the pub
lie mind and the managers of great
business undertakings should be
guided
Tne bin prescribes that the commits
sion acts are to constitute a public
record but the body Is authorized
10 make public the Information in
such form and to such extent as may
be necessary or Il by direction OF the
attorney general
it is apparent that the public mind
cannot be guided unless it has the
facts, and then il will not get unless
the commission or the attorney gen
eral deems il polite
Settlement Of Differences.
The most important feature OF the
bill Is that which legalizes the policy
Of the administration Of terminating
al unlawful condition by agreement
between the combination attacked and
the attorney general
This feature is comprehended under
a section which requires the commits
sion, upon the request OF the attorney
general or any corporation affected,
10 investigate whether combination