The Washington times., 1914-01-23
FOUR TRUST BILLS
ARE MADE PUBLIC
Early Hearings Planned So
Business World May Ex-
press Opinion on Them.

-Four of the Administration antitrust
ills are today public. and will be the
ubject Of early hearings at the Capitol
Mess business can show the justice OF
modification of the language. the
undamentals of the bill will be un-
hanged.
The fifth bill, that relating TO the
'-suance of railway stocks and bonds, is
ct 70 be prepared by the House Com
7littee on Interstate and Foreign Com
rlerce. This committee will assume
harge of two of the five measures, the
judiciary Committee having jurisdic-
ion over three.
The four measures were made pubic
-lst night. Senator Newlands and Con-
Eressman Clayton jointly gave out tne
trade commission bill A subcommittee
OF the House Judiciary. Committee
landed out the three additional bills AT
o o'clock. These bills. prepared oy
chairman Clayton and CongreSESyI,lI'e.n
7arlin and Floyd, have the Mnlte te
House o. K, and will be submitted 10
ne full Judiciary Committee and re-
gorted to the House -~Sr hearings-
Approved By Resident.
President Wilson is for the principles
II the bills as they now stand, but ne
invites the business world to express
itself. as il did on the currency measure
The fundamental provisions of the
yur measures are as follows:
Bill No. l narrows the "debatable
round about the Sherman law by de-
yning monopoly. This definition is
arawn after one of the Seven Sisters
IN force in New Jersey.
The bill makes unlawful any agree
1ent TO prevent. free and unrestricted
,Dmpetion, and does not recognize the
-ule of reason in restraint of trade
The second bill prohibits interlocking
,'rrectorates among banks, trust COM
mics, mining companies and railroads.
lteTlocklng directorates are also iI- LOI-
hidden among industrial corporations
divided they are in any way compeu-
The third bill establishes rules for
rade relations. "Cut-throat" compe-
rition is forbidden, as well as restraint
Il trade. It is made Illegal for hrm
Dr individual to slash prices in one
immunity to drive out competition.
and at the same time boost prices In
aonther town where there is no compe-
ton. Prices must be uniform, taking
into consideration cost Of transporta-
lion, in all communities, provided the
o mount and quality sold are the same
in one community as another. This bill
also prohibits the exclusive contract
md is intended to break up the patent
-nOnopoly.
Trade Commission Created
The fourth bill creates the new trade
commission along the lines suggested
in the Presidents message. The new
commission will absorb the present bu-
Teau OF corporations whose director be-
comes the chairman OF the commission
The commissioners have seven-year
rms and salaries of $1,000. This COM
n ission will act in an advisory ca
pacity to the Attorney General, will
collect information regarding trusts,
wiIl have power TO require fullest pub
licity Of the operations OF corporations
in interstate commerce. and may be
0ailed upon by the courts for advice IN
dissolution suits. II
The right of individuals to enjoin
rusts and TO become parties to suits
gainst them. is provided for in the
Ill and the individual may use In his
own suit for damages the decree OBJ
lined by the Government against the
-ust.
IN the definitions bill there is included
p section making guilt personal" and
vtending the operations of the Sherman
aw to the individual officers and agents
- a corporation adjudged guilty of a
iolItion Cf the law
lllS important SeCuOIB OSSlBHSu "
ut teeth" into the Sherman law, reads:
That any person, firm, or corpora
= IN giolat:ng any Of the provisions of
his act shall upon conviction be ad-
Idged guilty of a misdemeanor and be
Dllnsl'ed by a fine not exceeding 5.O0O
.,r Imprisonment not exceeding one year,
cr By both, said punishment in the
iscretion of the court.
That whenever a corporation shall
q guilty of the violation Of any Of the