The Yale expositor. (Yale, St. Clair County, Mich.) 1894-current, 1914-01-29
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
Dlrectorates - Ample Provisions
Made for Trade Commission.

Washington, Jan. 23.-The admins
tration's trust bills, embodying the
program laid down by the president in
his recent message, have been present
ed 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.
8. Creation of an interstate
trade commission.
A. Regulation of corporation di-
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:
l. 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.
8. To prevent competition in
manufacturing, making, transport
ing, selling, or purchasing of mer-
chandise, produce, or any com
modify.
4. To make any agreement, en-
ten into any arrangement, or ar
rive at any understanding by
which they, directly or indirectly,
undertake to prevent 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.
The penalty for violation of the law
is fixed at not more than 5000 or inn
prisonment for one year or both
Guilt is made personal through a
oNN'Aph AhoA NhNAtNtA "a wi POi tAblOAi
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, or doing the
prohibited acts, and they shall be pun
lshed as prescribed above.
A paragraph prohibiting holding
companies is to be added to this meas
gre.
Covers Unfair Trade Practices.
The bin fcrbidding 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 an 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 Transports
ton"
Further. il is prescribed that moth.
ing contained in the act shall prevent
persons from selecting their own Gus.
toners. but this provision shall not
authorize the owner or operator OF
any mine engaged in selling its prod
~ In, MT OF, fu,,
70 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 price charged therefor, or dis
count from or rebate upon such price
on the coT.dition or understanding
that the purchaser thereof shall not
deal in the goods. wares, or merchan
disc Of competitor or competitors OF
the seller.
Deals With Damage Suits.
A Judgment against any defendant
In 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 oil
law in favor of any other party in any
other proceeding brought under anC
involving the provisions of the law.
For the benefit of parties injured II
their business or property, by any per
son or corporation found guilty of vic
lating the law the statute Of limita
tions applicable to such cases shall bt
suspended.
lnjunctive relief is accorded agains
threatened loss or damage by a viola
lion of the act under the same condi
tons and principles that injunctive re
lief against threatened conduct which
will cause loss or damage is granted
by courts OF equity.
II is required that a proper bono
shall be executed against damages fo
an injunction improvidently granted
and IL must be shown that the DANCE
Of irreparable loss or damage is i'm
/ mediate