New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-03
Revised Measure Does Not
Forbid Organizations
of Labor.
REPUBLICANS OPPOSE
SOME PROVISIONS
Debate IN House to Begin Soon
Special Rule Asked
For.
rFrom tn. Tribune Bnresu. ]


Washington. May The Democrats Of
the House Judiciary Committee voted to-
day 20 report the revised draft OF the al
mnistration antitrust measure. No
minority member voted for the measure.
Dissenting views will be filed by praeti-
cally all the Republicans.
The minority report will not be confined
10 antitrust legislation a. such. but VIII
be a criticism OF various provisions Or TIE
bill.
In substance the Lill reported to-day
is that recently redrsfted and made pub
Tic by the Clayton subcommittee. There
has been a liberalization OF the secuohS
relating to interlOcking directorates anu
holding companies. The reported bill re
tains the Clayton anti-inJunctlon ana
anti-contempt bills passed by the last
Congress and now inserted as riders on
the trust measures. These provisions
we're suggested by leaders OF organized
labor
Another provision which partly meets
the demand of organized labor stipuiates
that nothing contained I'm the antitrust
istence and operation OF fraternai, labor
consumers. agricultural or HORTICULTURE
organizations. orders or associations III
stituted for the purposes OF mCtuaI he4P
and not having capital stock or conducted
for profit. or to forbid or restrain lhu'-
viduaI members Of such organizations
orders or associations from carrying O"'
the legitimate objects thereof
There is already difference Of opinion
regarding what constitutes legitimate
objects Of such organizations.
Debate to Begin Soon
Chairman Clayton introduced resolu-
ton to-day asking for a special rule 'or
the early consideration of the antitrust
hill. Chairman Henry Of the Rules Com
,nittee said the rule probably would be
reported next week Mr.. Clayton, nomi-
mated to-day for a federal Judgeship III
Alabama. does not intend to resign until
he has steered the trust measure through
the House.
Tho more important provisions of the
bill follow:
1rterIoclSing directorates between banks
or trust companies operating under the
laws Of the United States having indl-
yidually. deposits capital and surplus
aggregating more than S2,5O0VcO are tor-
hidden: nor may private banker of an
institution Of this class be director OF
any banking association organized or
operating under United States laws. rms
nrovision will become effective at the eX-
piration of two years.
No bank or trust company IN city
with more than 10000 population shall
have a director who is a director In an
other bank of the same city.
Price discrimination in any locality
with the purpose or intent 10 thereby
destroy or wrongfully injure the business
of a competitor" is prohibited.
The holding companies provision makes
il unlawful for any corporation in inter-
state commerce to own directly or indi-
iectly stock in any other corporations
where the effect Of such acquisition is TO
lessen competition.
The provision forbiddng interfering
directorates between corporations produc-
ing equipment and material for railroads
and the railroads is retained in the final
draft. Interlocking drectorates among
railroads and banks acting as their fiscal
agents are also prohibited.