The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-05-02

value Of said property or services
and shall certify the same to the
said corporation.
"Whereupon the property or SER
vices may be received In payment
for said stock or shares OF capital
stock at the value ascertained and
fixed by the commission or the In
terstate Commerce Commission. a.
the case may be.
ut shall be unlawful for any cor
poration having capital stock or
shares Of capital stock to receive
any property or services In payment
for stock or shares OF capital stock at
any greater value than that fixed by
the commission or the 1ntarState
Commerce Commission. a. the case
may be. provided that nothing herein
contained shall be construed to au-
thorize the acceptance In payment OF
any stock or shares OF capital stock
Of any property. service or thing OF
value contrary to the laws OF the
state in which tho corporation ID
organised"
Banks Excepted.
The next section Of the bill provides
briefly that the preceding section covering
interlocking directorates. holding companies
and capitalization shall apply to all
merce except banks and banking instltu.
tons"
The next section in the bill--1i--was
evidently designed to meet such situa-
tions as have arisen In the last few years
in the management of great railroads. II
IL as follows:
From and after two years after
the passage Of this bill 1t shall be
unlawful for any common carrier en-
Gagged I'm commerce to enter into any
contract for the disposal OF or acqui-
sition OF stocks or bonds or other
securities with any other corporation
or to sell or lease any property to
any other corporation or TO purchase
or lease any property from any other
corporation II at the time there IL
among the officers or board OF d.
rectors or other managing board OF
the common carrier 20 engaged in
commerce any person or persons
among the officers or upon the
board Of directors or other manag-
ing board Of such other corporation.
II shall likewise be unlawful for
any common carrier engaged In COM
merce to enter into any contract for
the disposal or acquisition OF stocks
or bonds or other securities with any
person. partnership or unlncorporated
banking institution or to sell or lease
any property to any person. partner
ship or unlncorporated banking insti-
tuition or 20 purchase or lease any
property from any person. partner
ship or unlncorporated banking In
stitution. II at the time such person
or any member of such partnership
or any member Of such unincorporated
banking institution IL one OF the offi-
GERS or one OF the board OF directors
or other managing board of such COM
mon carrier engaged In commerce.
Redress for Injured.
The bill authorizes any person or cor
poration injured In his business on accoun
OF anything forbidden by the act to su
in a United States District Court wher,
the defendant may be found and upoI
such proof of such injury resulting from
lawful acts to recover "threefold tn
damages sustained and costs and reason
able attorney fees
1t lie also provided that private right
Of action arising under any anti-trus
statute shall not be subject to the statut
OF limitations during the pendency o
suits brought on behalf Of the Govern
ment.
Suits brought under any OF the anti
trust laws against n corporation may III
brought not only in the judicial d.stric
whereof IL is an inhabtant," but als'
In any district wherein II may be found
Section 10 of the bill carries out Pres
ident Wilson's oft announced policy tina
guilt Is personal and provides tina
whenever n corporation Is found To hav'
violated the antitrust laws. the Offence
shall he deemed to be also that Of the in
div!dual directors, officers and agents o
such corporation. authorizing or orderin,
any Of such prohibited acts"
A penalty OF fine and Imprisonment i
imposed for personal guilt under sucl
conditions.