New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-17
Notifications and Elimina-
tons by Senators Leave
Little of Original.
GREATER PART OF
MEASURE AGREED ON
Summary Given by Sections as
1t Stands After Judiciary
Committees Action.
From The Tribune Burea ;


ures passed by the House TO carry out
the administration antitrust pro,
gramme. The greater part OF the Dill
has been agreed upon. In It's maj
form it contains sweeping amendments
to the House measure, entire sections
Of which have been eliminated, ana
other provisions modified.
The Clayton bill has been modified
so that there is little of the original
measure left. The work of reshapIng
the bill has fallen to the Democrats
alone.
The summary of the bill by sections,
in the form in which it stands after
having gone through the Senate Com
mittee, follows
Section |. The antitrust laws are re-
carded as including the Sherman act
and provisions of the Wilson tariff act
of 1894. as amended by the act OF FEB
ruary II. 1908. Commerce" means IN
terstate and foreign trade, but no
thing in this act shall apply to the
Philippine Islands"
>. at shall be unlawful for any per-
son engaged in commerce. either d.
rectly or indirectly, 20 discriminate IN
price between different purchasers OF
commodities" sold for use, consump-
ton or resale. with the purpose or m
tent to destroy or wrongfully inJure
the business of competitor OF either
such purchaser or seller.
"Provided that nothing herein con
tanned shall prevent discrimination IN
price between purchasers OF commodl-
ties on account OF differences in the
grade, quality or quantity OF the COM
modify sold, or that makes only due
4 in %
Of selling or transportation, or dis
elimination in price in the same or dii-
ferent communities made in good faIth
to meet competition and not intended
TO create a monopoly, and
"Provided, further, that nothing
herein contained shall prevent persons
engaged in selling goods, wares, or
merchandise in commerce from select
ing their own customers in bona tde
transactions and not in restraint OF
trade"
No Price Favors.
3. House provision prohibiting pro-
Queer Of coal, gas or electricity from
refusing to sell to responsible pur-
chasers entirely stricken out.
4. No person shall lease or sell pat
ented or unpatented commodities "for
use. consumption or resale" or give
favors as TO price ION the condition,
agreement or understanding that the
lessee or purchaser thereof shall not
use or deal in the commodities of
competitor or competitors of the lessor
or seller"
;. ANY person whose business is in
jured by offenders against the anti
trust laws may recover three-fold
Il d 10 aFf .ar
news fees "in the district in which the
defendant resides or is found and has
an agent"
s. 4 final judgment or decree in
government trust suit shall be prlma
facie evidence against the defendant
in any suit brought by any other
party las to all matters respecting
said judgment or decree would be an
estoppel as between the parties there
to-" The statute of limitations shall
be six instead of three years.
:. The antitrust laws shall not
forbid "the existence and operation of
labor agricultural or horticultural
organizations or their members from
lawfully carrying out the legitimate
objects thereof; nor shall such or
carnations or the members thereof
be held or construed to be Illegal
combinations or conspiracies in re-
straint of trade, under the antitrust
laws"
&. No commercial corporation shall
acquire an interest in another COM
mercial corporation if the effect is TO
substantially lessen" competition.
Holding companies which operate to
lessen competition are prohibited.
But the purchase Of stock for invest
ment and the formation of subsidiary
corporations are permissible when
competition is not lessened.
The law shall not be construed to
prohibit railroad from acquiring or
aiding in the construction of branch
or short line with which it does not
compete substantially, but nothing
contained in this section shall be held
TO affect or impair any right hereto
fore legally acquired: Provided, that
nothing herein shall be held or con-
strued to authorize or make lawful
anything prohibited and made illegal
By the antitrust laws"
Railroad Officers Curbed.
Q. No railroad officer or purchas
ing agent shall have any interest in
any concern dealing in rail securities
VI SupplltS W lHt dIlOuuI VI SoU,uuO
or more year. unless purchases are
made by competitive bidding under the
supervision of the Interstate Com
merce Commission. Violations shall
be reported by the commission TO the
Attorney General. and corporation
officers responsible for the offences
shall be fined not exceeding $4,000
or imprisoned not exceeding two
years.
No person shall be director of
two or more commercial corporations
having capital. surplus and undivided
profits aggregating more than 81 ,000.-
600. If they are or have been COM
petItors, or if an elimination of COM
petition by agreement would violate
the antitrust laws. A person eligible
as an interlockng director under
these terms may serve one year, even
il changing conditions make him in
eligible for reelection.
Compliance with the provisions of
Sections ,, 4. S and 9 shall be en-
forced by the Interstate Commerce
Commission and the Federal Trade
Commission. The commission shall
investigate offences. and. after a hear
ing uDon thirty davS' nntico 10 :, ,kou