The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1914-01-28
LAID BEFORE HOUSE
INTERSTATE TRADE COMMISSION
BILL INTRODUCED

DILL lNlNUUUULU
FOLLOW WILSON'S Plan
Measure Embodies the Suggestions oi
the President-Is Designed to As
sist Business and Government in
Preventing Violations Of the Anti
Trust Iaw-PenaIties Provided.
President Wilson's message to con-
gress, suggesting antitrust legislation
supplemental to the Sherman law,
bore its first fruit Thursday, when a
bill to create an interstate trade com,
mission was introduced in the house
Following a conference between
Attorney-General McReynolds, Sena-
tor Newlands, Of the interstate COM
merce committee; Representative
Clayton, chairman, and other mem
bers Of the judiciary subcommittee,
Mr.. Clayton submitted the measure,
and it was referred to the interstate
and foreign commerce committee. An
effort by Senator Newlands to intro
duce the bill simultaneously in the
senate failed owing 20 debate on the
Alaska railroad bill.
President Wilson expects action by
congress during the present session
on all bills being prepared by con-
gressional committees to deal with
the trust question. He told callers
that he regarded the group Of bills
as reasonably homogeneous and that
he expected prompt action.
The president reiterated his de-
sire that business men should be Civ
en- full opportunity in public hear
ings to express their views and criti-
else.
While the president recommended
in his message supervision. by the
interstate commerce commission OF
the issuance Of railroad securities, he
took occasion Thursday to emphasize
that this did not mean necessarily
that past issues would be inquired
into, or affected by the present legis-
lation. Nor did the president con-
slider that the regulation Of railway
securities has anything to do with
regulating stock exchanges: Legis-
lation on this subject, he explained,
was not recommended in the Demo
cratic platform, and he did not feel
that he should recommend anything
not included in the platform
The commission proposed by the
bill introduced would absorb the bu-
reau Of corporations, which consist
of five members, salaried at $4,000.
and would have powers OF inquisiticn
over all corporations, save common
carriers, which are regulated by the
interstate commerce commission. It's
most important function is designed
to assist business and the government
in preventing violation Of the Sher-
man act; in aiding the attorney-gen-
eral to terminate alleged unlawful
conditions by agreements.
In clothing the commission with
authority to be of service in forestall-
ing conditions that might necessitate
prosecution, the bill prescribes that it
shall, upon the request Of the attor-
ney general or any corporation that
may be affected, or upon its own in
itiative. investigate for the purpose Of
ascertaining whether there is any
corporation which violates the Sher-
man act. In case violation is found
to exist, the bill provides that the
commission shall report to the attor-
ney-general 'in order that said cor
poration may thereafter comply with
the terms of said act.
Despite the fact that there has
been agitation against immunity to
individuals who might testify in in
quires conducted by the commission,
immunity is granted to individuals
except for perjury. There is no i'm
munity to corporations.
In detail the bill sets forth that it
shall require all corporations engag-
ed in interstate and foreign business.
except common carriers, from time to
time to furnish to the commission
records of their organization, busi-
ness and financial condition, conduct
management and relation to other
compaies.
Striking at secret sessions Of di-
rectorates and other bodies, the bill
directs that the commission shall
have complete access to all records Of
any Of the executive or other COM
mittees of corporations. Failure or
neglect Of corporations to comply
with this requirement is made pun
ishable as a misdemeanor, with fine
upon conviction.
The district courts Of the United
States, upon the commissions ap-
plication alleging a failure Of wit
nesses to respond to subpoenas or to
comply with any commission order
for furnishing Of information, will
have jurisdiction to issue a writ OF
mandamus to enforce the commis-
sion's order and to punish disobed:
ience.
To aid the equity courts, the bill
provides as follows:
"In suits Of equity brought by or
under the direction Of the attorney
general, as provided in the act OF
July 2, 1890 (the Sherman law). the
court in which suit is pending, may
at any stage Of the litigation, at Its
discretion, refer to the commission