South Bend news-times. (South Bend, Ind.) 1913-1938, 1914-07-23
TRUST PROGRAM
REACHES SENATE
Policy With Respect to Three
Pending Measures Mapped
Out and Democrats Are
Pledged to Their Support.

WASHINGTON. July 23.-The ad-
ministration's full trust program was
IaiS before the senate wednesday and
tonight a conference Of democrats
was held. A policy with respect TO
the three pending measures was map
ped out and all democrats were pledg-
ed 20 give II their united support.
The Clayton omnibus trust bill was
reported 10 the senate Wednesday
morning. The interstate commerce
committee reported the railroad Sc
curities which IL has been considering
since June last. The bill includes
within its provisions only such cleo
trio railroads as form part OF the gen
eral systems OF steam roads. From all
these. the interstate commerce COM
mission is directed TO require annual
reports and the commission Is given
full access to all necessary books and
accounts and other records.
Railroads are made liable on
through bills OF lading for full actual
loss. damage or injury TO property
caused by IL or any common carriers.
No agreement as 20 Limitation or LA
bility will be legal This is the amend
ment OF Sen. Cummins. Where goods
are wrapped or boxed so as to be hid
den from the carrier. the carrier may
require the shipper TO state the value.
After July 1. 1915. it is made un-
Regulate Securities.
Lawful for any carrier TO issue any evil
dence Of Indebtedness or security,
even though permitted so TO do by the
authority creating the corporation.
unless IL is for purposes OF construc-
ton. extension. betterments or equip
ment OF its railroad or facilities, or the
payment or refundtng of a valid debt
or reimbursement of funds temper
aFily advanced for these purposes. or
for the lawful acquisition OF property
or interest in another carrier or for
the protection of property before &C
CURED or It's Improvement, IL not con
neCted with its business as common
carrier N such expenditures Will not
injEriOusly affect the public interest.
For these purposes securities can be
issued only after investigation by the
commission of the purposes and uses
40 which they are to be put. None OF
these securities may be used for any
PURPOSE other than set forth in the
application without the consent OF the
commission. The commission is given
the power TO fix a minimum price be
low which the securities may not be
sold. or TO require them to be offered
az competitive bidding.
All carriers subject to the act are
prohibited from acquiring by lease,
purchase or otherwise any interest in
any railroad, boat line, or electric
line. or any stock or any securities of
corporations controlling such lines
unless permitted by the commission.
The finding of the commission in such
cases is not to affect the legality of
such acquisition under the interstate
commerce act
The commission is given power to
enjoin any violation of it's orders in
the district courts OF the United
States and ans person guilty Of viola
tons is liable to fine or Imprisonment
or both.
The democratic senate conference
Wednesday night adopted the follow
ing program:
Appropriation bills and conference
reports to have the right of way
when presented
Trust measures 10 be brought up in
this order:
The pending trade commission bill;
the Clayton omnibus bill and then the
railroad securities measure; all TO be
considered until disposed Of
No effort was made TO bind any
body and there was no suggestion as
to the possible time of adjournment