The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-01-23
-FOUR OF PROPOSED
BILLS MADE PUBLIC
Given Out in Accordance With
Presidents Program of
Publicity.
WILL BE INTRODUCED TO-DAY
Government Regulation of Rail
road Service Still Under
Consideration.

Washington, January 22.-Four of
the proposed bills to supplement the
Sherman antitrust act. suggested by
President Wilson in his recent message
| to Congress. were made public to-day
and tonight One OF them, the m.a
sure to create an Interstate trade
commission, was introduced In the
House by Representative Clayton,
chairman OF the Judiciary Committee.
This other three, prepared by the
House judiciary subcommittee, for
submission and consideration by the
full committee, were given out in ac-
cordance with the Presidents program
of publicity. They will be Introduced
tomorrow. They embrace the sub
jects:
Prohibition of interlocking directo-
| rates of Industrial corporations. rail-
roads. banking. or trust companies to
be effective two years after approval.
Definition of the Sherman antitrust
act, TO specifically include within the
meaning OF conspiracy in restraint of
trade" every contract, combination in
the form of trust or otherwise with
III the meaning of tho word mo
nopolize' certain definite offenses all
of which would be prohibited, and fix
ing guilt upon individuals
y trade relations measure. designed
to prohibit "cut throat" competition.
through price determinations, dis
counts, 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.
chairman Clayton announced that
fourth projected measure. which
would provide for government reeula
ZION of railroad service, have not been
drafted. and WOULD be taken up by the
Rouse and Senate Interstate Commerce.
Committees
Definition of Sherman Act.
The Sherman act definitiona hill
would include within the meaning Of
Inc terms every contract" "combina-
tion In restraint OF trade or commerce."
combination in the form of trust or
otherwise" and the word "monopolize,n
as used In the act Any trade combi-
nation or agreement which purposes:
To create or carry out restrictions
1 In trade or to acquire 81 MONOPOLY in
any interstate trade, business or com
| MERGE
ITO limit or reduce the production
or Increase the price of merchandise
| or OF any commodity
To prevent competition in manu-
featuring, making, transporting, SELL
ing or purchasing Of merchandise pro-
| "'NS VI tiiS COiIlIHOultS.
To make or enter into any ncree-
ment. or arrive ut any understand
ing BY which they directly or indi-
rectiy undertake TO prevent free and
unrestricted competition among them
| selves or among purchasers or con-
sumers I'm the sale, production or
transportation of any commodity"
| whenever corporation Is found
| guilty. the offense would be deemed
] hot - I,
rectors, officers and agents of such
corporation" who would be punished
equally with the corporation
| Intcrlocking Directorate.
The interlockng directorate bill
would provide, that after two years
from tho date of Its approval, no per-
son engaged as an individual member
OF the partnership. officer of n corpor-
| alton In the business OF manufacture
I Ing or selling railroad cars or loco
motives, rails, structural steel, min
| ing or selling coal, or the conduct of
q bank or trust company shall act
IN any capacity as an employee of qny
Eratlroad or public service corporation
| doing an interstate business
4 1t would provide further that no per-
son should at tho same time be an en-
pioyo In two or more banks, banking
associations or trust companies, which
| are members OF any reserve bank; and
that no private banker. or person, who
| Is n director IN any State bank or trust
company not operating under the new
currency law, shall be eligible to be q
director In any bank operating Under
tthe act. S5S
For violations, . inc OF $500 . day.