The Birmingham age-herald., 1914-07-23
SENATE RESUMES CONS|DERAT|ONOF OF
 ANTITRUST BILLS
First Take Up Interstate Trade Commission Meas ure Revised Clayton
 Bill Reported On

Washington, July 2e.-Upon insist ence by Senator Borah, republican, the Senate today resumed consideration of
 the interstate trade commission bill
 measures.
 The revised Clayton bill to supple
 ment the sherman act was reported
 from the judiciary committee today,
 but the interstate commerce committee
 was not quite ready with perfected
 measure to regulate the issuance of se- curities by common carriers.
 The, securities bill practically was completed to the satisfaction of a ma jority and "a new print of the revised text was made public after the com mittee yielded to Louis D. Brandeis, one of it's advisers. and incorporated sec
 tion which would make it unlawful for a common carrier to acquire any new Hines without authority from the in terstute commerce commission.
 MT Brandeis and Joe Ruble of New
 York, objected strenuously to the scope Ol SuDtiNiSolS dutHoillt klNtn IDe H. terstate commerce commission in the
 Newlands bill and they plan to make an appeal to President Wilson tomor- lrow. The experts maintain the New lands bill would, amount to federal guaranty of railroad securities and abolish all authority of state railroad commissions over stock issues.
 Much Authority Given As agreed upon tentatively and to be reviewed by the interstate commerce commission tomorrow the Newlands bill would then give the interstate com
 merce commission the authority to ap- Iprove or disapprove tlie securities of carriers for ''construction, extension, |enlargement, betterment maintenance or upkeep of it's facilities" or of '.the Lawful requirement of the property of or interest in another common carrier or for the protection of or Improvement of prorertv heretofore ac- Iquired not connected with its business las a common carrier, if such last named expenditure will not injuriouslv lafYect the public interest nor impair the ability of the corporation to per form it's public service as a common carrier"
 The commission would have the power either to fix maxiInuTn price below which securities should not be sold, or to require the securities to be offered for sale by competitive bid- lding, and when issuance of securities lare approved, the commission would at tach it's certificate of approval. Amendment Accepted
 The Brandeis amendment accepted by lthe committee would make it unlaw- lful for any common carrier even though permitted by the authority cre- Iatfng such a company "to acquire by lease, purchase or otherwise, any in- lterest in any railroad boat line or elec- Itric line, or any stock or any of the lsecurities of any corporation or asso- Iciation controlling or operating the Isane. unless the commissions. upon ap- Ip1ication and hearing. shall find that ithe acquisition will not impair the abil- lity of either of said carriers to per- | form it's service to the public as a Icommon carrier.
 Electric railroads are exempted from 1.-the bill except when they are parts of Ia railroad system. Another Senate proposed by Senator Cum Imins, would put upon the railroads full liability for damages despite stipula- ltions or agreements in bills of 1ading. l Washington. July 22--After getting ithe trade commission bill before the Senate instead of the river and har- |bor bill, Senator Borah continued hfe trust speech interrupted about a week |ago. He challenged the advocates of i, rage Ei1lt)