Daily Kennebec journal., 1914-01-23

formation or information specially asked
from time to time, to furnish to the COM
mission information, statements and rec
ords of their organization, business H.
nancial conditions, conduct, management
and relation to other companies "at such
time, to such degree and extent and in
such form as may be prescribed by the
commission
Striking at secret sessions of director
ates and other bodies, the bill directs
that the commission shall have com
plete access to all records, accounts
minutes, books and papers OF the cor
porations including the records of any of
their executive or other committees"
Failure or neglect or a corporation to
comply with this requirement after writ
ten demand and within such time as the
commission shall fix is made punishable
as a misdemeanor. with fine of $1,000
day upon conviction.
The district courts of the United
states, upon the commissions appl-
cation, alleging a failure of witnesses
to respond to subpoenas or to COM
ply with any commission order for
furnishing of informa ton will have
jurisdiction to issue a writ of manda-
mus to enforce the commissions order
and to punish the disobedience as In
other cases of contempt of court.
To aid the equity courts the bill
provides as follows:
In suits Of equity, brought by or un-
der the direction of the attorney gen.
eral as provided in the act of July 2,
1880, the Sherman law). the court in
which this suit is pending may at any
stage of the litigation, at its discre-
ton, refer to the commission any as
pect Of the litigation or proposed de-
cree, whereupon the commission shall!
investigate the question or questions
referred to with all the powers of in
vestigation hereinbefore bestowed on
the commission, and shall report its
findings to the court, with a copy of
the evidence upon which said finders
or recommendations are based. Said
evidence, findings and recommended
tions shall be public records"
The new commission would be re-
quired to annually make report on
or before Jan. l. which is to be trans
mitted to Congress-
Or the five members of the body not
more than three could be of the same
political party. All would serve seven
years, except at the beginning, when
the chairman would serve seven years
! and the other four. commissioners
three, four, five and six years, re-
speetively. All the commissioners ex-
|cept the first chairman would be ap-
pointed by the President subject to
f1f.y s-y,aa fi0,, y Co. L. Il
sequent ehairnnen would be elected by
the commission from among the five
Attorney General McReynolds said
today that he expected to hold several
conferences later with the Senate and
House committee relative to all the
antitrust legislation.
Four of the proposed bills to supple
ment the Sherman antitrust act suggest
ed by President Wilson in his recent
message to Congress were made public
tonight, one of them, the measure to
create an Interstate Trade Commission,
having been introduced during the day
in the House by Representa- tive Clayton,
chairman of the judiciary committee
Three other measures prepared by the
House judiciary Subcommittee for sub
mission and consideration by the full
committee were given to the public in
accordance with the Presidents program
Of publicity. Hearings will be held on
all of them. 81
The three bills to be introduced tomor-
row embrace the following subjects:
Prohibition of inter-locking directorates
of industrial corporations, railroads,
bank of trust companies, to be effective
two years after approval
Definition of the terms of the Sher-
man antitrust act, to include specif-
ically within the meaning Of Con
spiracy in restraint of trade, every
contract. combination in the form of
a trust or otherwise within the mean
ing fo the word ''monopolies" certain
definite offences, all of which would
be prohibited and fixing guilt upon in
dividuals.
A trade relations measure designed
to prohibit "cut throat" competition
through price determination, discounts
rebates, territorial restrictions, etc,
and giving to individuals injured by
reason of anything forbidden in the
Sherman act, the right to bring suits
in equity against corporations against
which DEGREES have been obtained by
the government.
Chairman Clayton announced that
fourth projected measure which would
provide for government regulation Of
railroad securities had not been draft
ed and would be taken up by the
House and Senate Interstate commerce
committees.