The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1914-02-04
FRAME FOUR BILLS
TO CURB TRUSTS
MEASURE APPROVED BY WILSON
HAS NO ESCAPE LOOP
HOLES.
TO. BECOME LAWS VERY SOON
Penalty for Restraint Of Commerce,
Unfair Business and ~lnterIocking
Directorates - Ample Provisions
Made for Trade Commission.


tration's trust bills, embodying the
program laid down by the president in
his recent message, have been present
cd to congress.
The bills have received the approval
of Mr.. Wilson and the Democratic
leaders of both houses Of congress.
With little modification they will be
enacted into law. Their purposes are:
/. Definition of unlawful monop-
oily or restraints Of trade.
2. Prohibition of unfair trade
practice. r
8. Creation of en- interstate
trade commission.
1. Regulation Of corporation d.
dectorates and prohibition Of In
terlocking directorates.
Unlawful Monopoly Defined.
Unlawful monopoly is defined as
any combination or agreement be-
tween corporations, firms, or persons
designed for the following purposes:
1. To create or carry out re-
strictions In trade or to acquire a
monopoly in any interstate trade,
business, or commerce.
2. To limit or reduce the pro-
duction or increase the price Of
merchandise or Of any commodity.
3. To prevent competition in
manufacturing, making, transport
ing, selling, or purchasing Of mer-
chandise, produce, or any COM
modify.
4. To make any agreement, an
ten into any arrangement, or ar
rive at any understanding by
which they, directly or indirectly,
undertake to prevent a free and
unrestricted competition among
themselves or among any pur-
chasers or consumers In the sale,
production, or transportation Of
any product, article, or commod-
ity. t.. I
The penalty for violation Of the law
IS fixed at not more than $4,000 or i'm
prisonment for one year or both.
Guilt is made personal through a
section that whenever a corporation
shall be guilty Of the violation of the
law the offense shall be deemed to
cover the individual directors, officers,
and agents Of such corporation, as
authorizing, ordering, OF doing the
prohibited acts, and they shall be pun
ished as prescribed above.
A paragraph prohibiting holding
companies is to be added to this meas
ure. -..H .,.sD..
Covers Unfair Trade Practices.
The bill f%orbidding unfair trade
practices declares that to discriminate
in price, between different purchasers
Of commodities, with the purpose or
intent to injure or destroy a competi-
tor, either of the purchaser or of the
seller. shall be deemed ar attempt to
monopolize Interstate commerce.
1t is specifically declared that the
law is not intended to prevent dis
elimination in price between purchas-
ers of commodities ION account of
difference in the grade, quality, or
quantity Of the commodity sold, or
that makes only due allowance for
difference in the cost Of transporta-
ton"
Further, 1t is prescribed that moth
ing contained in the act shall prevent
persons from selecting their W Gus
toners, "but this provision shall not
authorize the owner or operator of
any mine engaged In selling its prod
uct in interstate or foreign commerce
to refuse arbitrarily to sell the same
to a responsible person, firm, or cor
poration. who applies to purchase"
An attempt at monopoly also is de-
clared to exist for any person to make
q sale Of goods, wares, or merchandise
or fix a price charged therefor, or dis
count from or rebate upon such price,
on the condition or understanding
that the purchaser thereof shall not
deal in the goods, wares, or merchan.
disc of a competitor or competitors Of
the seller.
Deals With Damage Suits.
A judgment against any defendant
in a suit brought under the antitrust
law the bill provides shall constitute
as against such defendant conclusive
evidence of the same facts and be
conclusive as to the same issues Of
law in favor of any other party in any
other proceeding brought under and
involving the provisions Of the law.
For the benefit Of parties injured In
their business or property, by any per-
son or corporation found guilty Of vio-
lating the law the statute Of limita-
tons applicable to such cases shall be
suspended.
Injunctive relief is accorded against
threatened loss or damage by a viola
ton of the act under the same cond1-
tons and principles that injunctive re-
lief against threatened conduct which
will cause loss or damage Is granted
by courts Of equity.
1t is required that a proper bond
shall be executed against damages for
an injunction improvidently granted,
and 1t must be shown that the danger
Of %irreparable loss or damage is i'm
mediate.
Hits ~InterIocklng Dlrectorates.
Concerning directorates, the bill on
that subject, which is to become eff
Their Difference.
"Women don't understand men.