The Madisonian. (Richmond, Ky.) 1913-1914, 1914-03-31
TO REGULATE TRACE
ONE ANTITRUST MEASURE IS
WELL NITs WAY TO
PASSAGE.
WILL BE INDEPENDENT BODY
Interstate Trade Commission Given
Power to Investigate Organization
/ and Business of Any Corpora
tlon Engaged in Commerce.
Rx eEoReE cLINIoM.

BY GEORGE CLINTON
Neutrality-suspicious. of the antitrust
measures prepared by the Democrats
In congress with the approval of Presi-
dent Wilson and Attorney General
sage. The measure is the one estab-
fishing an interstate trade commits
sion. The Democrats in congress have
found that a good many Of their Re
publican brethren approve the bill In
the form in which 1t has been sub
mitted and there seems to be little
doubt that on it's final passage con-
siderable Republican vote will be re-
corded IN its favor.
The Progressives in congress do not
wholly approve of this Interstate trade
commission bill. They maintain that
it does not go far enough and that 1t
is simply a weak substitute for a
measure which they would pass if
they were in control of congress. The
Progressives desire an interstate trade
commission which shall have more
complete powers than are granted to
the proposed body under the pro-
visions of the pending bill. The Pro
gressives believe that the commission
should have powers in business mat
ters as great as those which are CIV
en- the interstate commerce commits
sion in controlling the affairs Of the
railroads.
This commission measure was
unanimously agreed upon by its franz
ers who constitute a subcommittee of
the house interstate commerce COM
mittee and in the membership of the
framing body we're both Democrats
and Republicans
An independent Body.
OF the bill Representative Covfng-
ton has said:
1.-THE whole theory of the creation
of the commission has been to make
1t an efficient independent body. In
most of the matters of publicity It has
entire control of the facts gathered.
Publicity is left to its discretion, and
the bin contains ample authority for
1t to prevent the disclosures of those
necessary trade secrets. valueless to
the public, in promoting lawful COM
petitive business but which. was dis
closed. simply afford opportunity for
Injurious use by competitors. Powers
of investigation, safeguarded by prop
er constitutional limitations against
unlawful searches and seizures, are
taken from a new subordinate depart
ment under the control of the execu-
tive and given to this nonpartisan
body"
Under the interstate trade commits
sion bill all the powers and duties of
the present bureau Of corporations
and of the commissioner of corpora
lions are transferred to the commits
sion of three members. all Of whom
are to be presidential appointees, sub
ject to confirmation by the senate, and
each of whom will draw salary of
$4,000 annually. Only two of the
commissioners can be Of the same po-
litical party.
Every corporation that Is engaged
in interstate commerce, except cor
porations subject to the act to regu-
late commerce. and which has capt.
less capital belongs to a class of cor
porations which the commission may
establish, is to be obliged to furnish
to the new body annually such in
formation, statement and records of
ORGANIZATION. bondholders and stock
holders and financial condition, and
also such opinion, statements and
records of its relations to other cor
porations and its business and prac-
tises while engaged In commerce, as
the commission shall require"
Powers of the Commission.
Here is section 10 of the bill which
shows specifically the powers of the
commission in matters Of investiga-
ton:
Section 10. The commission shall,
upon the direction of the president,
the attorney general. or either house
of congress- investigate the organiza-
ton, management and business of any
corporation while engaged in COM
merce, to aid in ascertaining whether
or not the corporations investigated is
violating the acts rele citing to restraint
of trade And the commission shall
make a report of such investigation
which may include recommendations
for reimbursement of business in order
that said corporation may thereafter
maintain its organization. manage
ment and conduct of business in &C
cordance with law. Reports made
after investigation may be made pub
lie in the discretion of the commits
SION
The annual reports which corpora
tions shall turn in containing the re
ouired information and statistics FOL
the previous year must be made Out
under oath and filed with the commits
sion at its Office in Washington with
in thDee months after the close of the
year, for which the report is made
| In cases of necessity it will be within
the power of the commission to gran
additional time.
IF a corporation delays In turning
in It's report the bill as drawn penal
ICES it at 500 for each day of thu
delay, A provision of one. of the bill
proposed, but not accepted, placed tn,
fine at 81 1000 day for delays in turn
ing in reports, but congress seems t.
have thought that this was excessive
Horses and Cards.
why Is it you always win a
poker?" she asked, and always los