The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1914-03-16
INTERSTATE TRADE
COMMISSION BILL
Continued From Page One.

stock Or organized to carry on business
for profit.
Section nine of the bill, requiring
annual reports to the commission
would provide hat:
EVERY corporation engaged in
CONNIE &c excepting corporations sub
tect to the acts to regulate commerce,
which by itself or with one or more
other corporations owned, operated,
controlled, or organized in conjunction
with it so as to constitute substantial
ly a business unit, has q capital of
$4,000. 900 or more, or has a less ca ri
tai and belongs TO any class of cOrpor-
atoms which the commission may
make shall furnish to the commission
annually such information, statements
and records of organization, bond
holders and stockholders, and financial
condition, and also such information,
statements and records of its relation
to other corporations, and it's business
and practices while engaged in com =
merCe as the commission shall require.
And the commission may, to enable it
the better to carry out the of
this act, prescribe as near as may be A
uniform system Of annual reports.
"The annual rerOrtS shall contain all
the required information and statls-
tics for the period of twelve months,
ending with the fiscal year of each
corporations report. and they shall be
made out under oath or otherwise. in
the discretion of he commission, and
filed with the commission at its Office
in Washington within three months
after the close Of the year for which
the report is made, unless additional
time he granted in any case by the
commission. The commission may also
require such special reports as it may
deem A lVisGhle."
This section penalties violations at
500 a day. The clayton bill made no
such classification Of corporations but
Uena liked violations at $1,000 a day.
Authorizing Investigations and. re-
norts by the commission, the bill
would provide that:
section 10. The commission shall,
upon the direction Of the president, the
attorney general. or either house of
congress investigate the rganizatiOn,
goment and business of any cor
poratton while engaged in commerce,
to aid in aSCertaining whether or not
the corporation investigated is violat-
ing the acts relating to. restraint of
trade. AfterWard the commission shall
make a report Of such Investigation.
winch may include recommendations
FOR reimbursement Of business in order
thAt said cor; Grafton may thereafter
maintain its organization. manage
ment, and conduct of business in &C
~cOrdanCe with law. Reports made aft
cd investigation may be made public
in the discretion of the commission"
section II. When in the course Of
any investigation made under his act,
the commission shall obtain Informal
tlon concerning any unfair COMPETE
ton or practice in commerce not nee
cssarlIT constituting a violation of law
by the corporation investigated. it
snail make a report to the president,
10 aid him in making recommended
tons to congress for legislation in re-
latlon to regulation Of commerce and
tne Information 50 obtained and a re-
port thereof shall be slade Iublic only
upon direction of the president"
Another section is designated to
remedy the present lack of any bur
eau equipped with a trained force to
assist the department Of justice and
the courts in solving problems on
nected with the dissolution of cor
porations -~adiudged to be, operating
against the law. 1t authorizes the
courts to refer to the commission any
matter concerning relief to be grant
ed or any proposed decree for the pur-
pose of such an investigation as will
give to the courts complete economic
Information . This would not empow-
or the commission to gather evidence
TO be offered in any case to be con-
sldered by the court in entering judg-
ment. The commission also is author
lied to determine whether any decree
or dissolution is entered against a
corporation is being carried out.
The bill would authorize Il secretary
at $4,000 annually and any other nee
essary employees. 1t makes the COM
missions principal office at. Washing
ton, but authorizes it to hold special
sessions anywhere in the United
States. All employees would be in the
classified civil service except the sec
rotary and a clerk to each commits
sioner. The bill would require the ex-
ecutiNe departments to furnish any
Information in their possession and
would authorize the commissions
agents to have access to at any time
and TO copy n documentary evidence
OF any corporation. 1t would penalize
wlltul false entries or statements in
any required report as misdemeanors,
punishable by a maximum fine Of So
coo. and three years imprisonment or
both, and the unauthorized making
public of any information obtained by
the commission at S., 900 fine or one
years imprisonment or both.
The commission would be REQUIRED
to report annually to congress on Dec.
l. giving facts and statistics contain
ed of value. in the determination Of
questions connected with the conduct
of commerce, together with legislative
recommendations.
The same regulations, liabilities and
immunities imposed in the present
acts to regulate commerce and rela-
tiv etc testimony before the interstate
commerce commission, are made to
apply to witnesses, testimony and doc
umentarX evidence before the com :