Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1914-03-16
~ aoaalna iouar., srselAl lsAssO wl.u

lar noaalsa JOURNAL SPECIAL lsAsso wsu
Washington, March i5.~~Thc inter-
state trade commission bill bearing
the approval OF President Wilson and
Attorney General McRcynolds, was
made public today after many confer
encea among members OF the house
Interstate commerce committee.
THE democrats expect this measure
10 receive substantial republican sup
port and an effort probably win be
made soon 20 bring about concert OF
action between the senate and house
ON this phase Of tho administration
program Of commerce regulation and
unu-trust legislation
The now bin was unanimously
ngrced upon hy it's trainers A sub
committee of democrats ana renubii-
cans hcaded hy Representative Coy
ington of Maryiand. and it IS approved
by practically the fun committee
independent Commission.
fhe whole theory of the creation
nf the commission. said Mr.. Covlns.
tom tonight, has been 10 niaiso il an
eiiicient independent body. In most
of the matters of publicity II has con.
troll of the facts gathered. Publicly
IS lefi 60 its discretion and the bin
contains ample authority for Il 10
prevent the disclosure of those neces.
Hary trade secrets Nalueless To the
public n promoting lawful comnetl-
tive business, but which when disclog-
cd, simply afford opportunity for IN
lnriouH use by competitors. Powers
of inrcstigaton snfcguardod by pro
per constitutional limitations against
unlawful senrch and seizure. are TAX
cn from "a new subordinate depart
ment under the control OF the execu-
tive aud given 10 this non. partisan
body"
Salaries OF $4,000 Each.
The bin would transfer an the pow
ers and the duties of the bureau Of
corporations aud the commissioner Of
corporations 10 the proposed commits.
s'on of three momhers, presidential
appolntees subject to confirmation.
whose salaries would be 10000 an
nunlly each only two of the commits
sioners could be from the same po-
litioai party
The hlll defines as corporations an
bodies Incorporated under the law.
and lu point stock associations and
all other associations having shares
of capital or other capital stock or
organized 10 carry on business for
profit.
Corporations Ancctcd.
Section nine of che bin requiring
annual reports 10 the commission.
would provide that
Every corporation engaged In com.
metce excepting corporations subject
g. the acts to Regulate commerce.
which by Itself or with one or more
other corporations owned. operated.
controlled on organized In conjunction
with 1T So as 90 constitute substantially
"a business unit has capital Of So,
100000 er more, or has "a less eapital
and belongs To any class Of corporl-
tlons which the commission may
make, shall furnish to the commis-
s'en HHnHniy arCh information. state
mcnts and records of organization.
boudholdors and stockholders. and
financial condition ana also such in
formation, statement and records ~
ite relations to other corporations, ant
lts business and practices while en-
gagged in commerce as the commits
sion shall require
system OF Annual Reports.
Aud the commission may, to enable
lt 60 better carry ont the purposes OF
tile aet, prescribe MS near as may bs
a uniform system of annual reports.
The annual reports shall contain all
the required n formation and statls-
hcs for the period of twelve months,
ending with the fiscal year of each
corporations report and they shall
be made out under oath or otherwise.
iu The discretion IF the commission al
its office In Washington, within
three months after the close Of tho
year for which the report is made, ua-
less additional time be granted in any
case los the commission The commits
SION may also require such special re.
ports as It MAY deem advisable"
Penalties Dclinquents Heavily.
This section penalties violations az
sl0d dav The CLAYTON Nln made
no such Classification of corporations,
but penalized Violations at $1,000 u
day
Authorizlns investigations and re-