The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1914-01-29
threatened loss or damage by . viola

lief AGAINST threatened connuct whlcf
will caus. loss or damage is granted
by courts OF equity.
II is required that a proper bone
shall be executed against damages FOR
an injunction improyidently granted
and it must he shown that the danger
(, of irreparable loss or damage Is I'm
mediate
Hits Interlocklns oireetorates.
Concerning directorates, the bill on
that subject, which Is TO become ef
fective two years from date of ap
prevail of the act, provides:
No person engaged as An individ
ual or as a member OF a partnership
| or as director or other officer OF a
corporation in the business OF selling
railroad cars or locomotives, or rail-
road rails or structural steel. or min
| ing or selling coal. or conducting .
bank or trust company, shall act as a
director or other officer or employe OF
any railroad or other public service
corporation which conducts an inter
| state business.
! NO person shall at the same time
be a director or other officer or em-
ploye in two or more federal reserve
banks. national banks. or banking AS
sociations, or other banks or trust
companies which are members OF AM
reserve bank; and private banker
and a person who is director In any
state bank or trust company not oper-
ating under the provisions OF the re-
cent currency law shall not be eligible
TO serve as director In any bank or
banking association or trust company
operating under the provisions OF the
law"
Violation Of these sections Is made
punishable by fine OF 500 a day. or
by Imprisonment not exceeding one
year. or both,
II any two or more corporations
have common director or directors.
the fact shall be conclusive evidence
that there exists real competition
between such corporation and such
elimination OF competition shall be
construed as a restraint OF Interstate
trade and be treated accordingly.
The trade commission bill provides
for commission OF Ave members. with
the commissioner OF corporations as
chairman, and transfers all the exist
ing powers OF the bureau Of corpora
tons TO the commission,
The principal and most important
duty the commission besides conduct.
ing Investigations will be to aid tho
courts when requested in the forma.
ton OF DEGREES OF dissolution
With this in view, the bill empow
ers he court to refer any part OF pend
INK litigation to the commission, In
Guiding the proposed decree. for lnfor
nation and advice.
Much Criticism for Bills.
The trust bills as framed will be
the subject OF sharp criticism on the
part OF progressiyes OF all parties who
claim they do not go ia" enough. 1t
will be declared that the definition OF
monopoly remains inadequate that the
prohibition Of unfair trade practice
does not cover this evil In our econ.
omic life that interlocking stock con.
troll is not covered and that the pow
ers OF the proposed trade commission
are insufficient
II is interesting to note that the
proposal to place the burden OF proof
upon a combination believed to be VIC.
lating the law has been omitted. No
attempt Ia made to prevent or destroy
monopoly based on patents. The great
est difficulty experienced In the effect
i've enforcement OF the law has been
found to be in the unwillinsness OF
the courts to impose jail penalty. IL
remains optional under the proposed
measures whit the courts to fine or
imprison.
Trade Board May oisappoint
In connection with the trade com
mission President Wilson declared In
his message that the country de
mands such u commission only AZ an
Indispensable instrument OF informa
ton and publicity as a clearing house
for the facts by which both the pub
Tic mind and the managers OF great
business undertakings should be
guided"
The bin prescribes that the commits.
sion acts are to constitute a public
record" but the body IL authorized
to make public the information In
such form and to such extent az may
be necessary" or by direction OF the
attorney general"
II Ia apparent that tho public mind
cannot be guided unless ii has the
facts. and then It will not get unless
the commission or the attorney gen
era! deems it polite
Settlement Of Differences
The most important feature OF the
bin !s that which lega!izes the policy
OF the administration OF terminating
an unlawful condition by agreement
between the combination attacked and
the attorney general,
This feature is comprehenled under
a section which requires the commits
sion. upon the request Of the attorney
| general or any corporation affected,
| to investigate whether "A combination
ia violating the law. In case the com
| mission should find the violation TO
exist it must report 10 the attorney
| general statement OF the objection
able acts and transactions and the
establishments necessary for the Of
! Tending combination to conform ia
the law.
To. induce Sleep.
TO many people the drinking OF halt