The Lynden tribune. [volume] (Lynden, Wash.) 1908-current, 1914-01-22
NEWS FROM OUR
NATIONAL CAPITAL
President Wilson Announces
New Features in Handling
Trust Question.

Washlngton.-PreSide Wilson out
lined his trust legislation plan to con-
gress early this week. The president
has left the task OF framing the de-
tailed remedies to congress. Three
hitherto unannounced features OF the
presidents plan are:
Ffrst-The prohibition of holding
companies. Corporations would be
forbidden to own or hold shares or
be interested in the business of actual
competitors or cognate concerns; and
the acquisition of stock or interests
in non-competitive concerns would be
possible only with the consent Of the
interstate commerce commission or
the proposed interstate trade commits
sion.
Second-Empowering the interstate
commerce commission to regulate and
supervise the issuance of securities by
the railroads so that the public would
exercise through the commission
certain control over the future uses
to which the money obtained from
the issue of stocks or bonds would be
put.
Third-Wherever at the instance of
the government, either in civil or
criminal proceedings, the courts have
rendered judgment on the unlawful
ness of any combination, individuals
or concerns aggrieved, through the
combination would have the benefit
of such adjudication and not be re-
CURED in their suits to prove again
the illegality of the combination.
The president has dealt with those
general principles in which he believ
ed public sentiment is agreed that
correction is necessary. He has en-
phasized that a spirit of friendliness
rather than hostility should character
ize the method OF approaching the
work of reform. To this end the pres
ident himself, ii was learned, is be-
hind the announced programme OF
public hearings on the proposed bills.
Opportunity for Business Adjustment.
The president desires, too. that in
the legislation ample time shall be
given in all cases for business to ad-
just itself to new conditions, even to
a period of from one to two years.
In line with the idea that public
opinion is more or less agreed on GER
tain principles, the president consid-
ers the prohibition of holding com
panies as a vital part of the pro-
gramme. He believes that, beginning
with the decision of the United States
supreme court in the Northern Secur-
tiles case, holding companies have
come under the ban of public disap-
proval.
A function analogous to public
utilities commission would be given
to the new interstate trade commits
sion through its power of inquisition
and investigation of what constitute
competitive and non-competitive con
ditions. 1t is recognized by admins
trative advocates of this feature that
there are many cases in which wide
sweeping prohibition of holding COM
panies might prevent the organization
of useful enterprises. The supervision
of the issuance of railroad securities
is to be regulated in the belief that
railroad capitalization and the issu-
ance of securities are closely involved
with increases in rates.
Agricultural Clearing House Proposed
Cooperation among the farmers in
stead OF competition. that the farm
er may receive the whole Of the con-
sumer's dollar for his product instead
Of 35 to As per cent, as is now the
case" is the aim of a bill introduced
by Senator Borah to create an ''agri
cultural capital" or clearing to
be run by the farmers under govern
ment charter or subsidy.
The bill would furnish machinery
for scientific marketing and standard
ization of farm products under direc-
tion of countrywide organization OF
producers irrespective of government
control. II created quite stir in che
senate, Senator Borah explaining later
but had introduced it, together with
memorial, at the request Of E. II. Ret
tig, farmer OF Opportunity. Wash.
The clearing house would be under
the management of board OF Is d.
rectors chosen by agricultural sub
divisions of the country for terms of
five years. Their salaries would be
$4,000 a year The association would
draw its real strength from county
associations consisting Of not less
than so farmers each.
Loan Bill Made Rider.
Senator Borah, of Idaho, Offered an
amendment to the Alaska government
railroad bill. authorizing loan OF
SlO0, ,O00. 900 to the reclamation fund
under the same conditions and on the
same terms as congress recently au-
thorized loan Of $4,000. 900. This