Norwich bulletin., 1914-01-23

Washington, Jan. President Will sons message to congress, suggesting antitrust legislation, supplemental to the Sherman law, which would eradi cate evils of big business and at the same time restore confidence and eOm- mercial activity, bore Its first fruit today, when a bill to create an inter state trade commission was introduced in the house.
 AIr 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 was blocked by Senator Smoot owing to deoate on the Alaska ralis Toad bill.
 S1o,ooo Salaries for Five Members. The commission proposed by the bill introduced today, which would absorb the bureau of corporations and which | would have as its first chairman the commissioner oi cOrporations-In tnlS case, Joseph F. Davies of Wisconsin, would consist of five members, salaried at S1O,0e0, and would have powers Of inQuisition over all corporations except 1 common carriers, which are regulated Oy the interstate commerce comln1S- sion. IL would also act as an advisory board to the attorney general and the courts, but it's most important func- llon is designed to assist business and ! the Government .n preventing viola ] uons of the Sherman act; in aiding the attorney general to terminate al- legged unlawful condition by agree mentS such as have recently been exc
 cuted in the American Telephone and Telegraph company and New York, New Haven and Hartford railroad cases. In this capacity the commits sion would serve, in accordance with the suggestion of the president in his
 message, as the business agent or the i constitution of the peace"
 Provision for Immunity. 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 attorney general or any corporation that may be afJeC ted. or upcn isS own inItia tive, investigate for the purpose Of ascer- ] taining whether there is anything in the conduct Of s corpora tiun or in it's 1 d;vid1Gls which violates the Sherman act In case any such violation is found to exist, the bill provides thaC fhe commission shall report in full to | the attorney general in order that said corporation may thereafter com ply with the terms of said act and to Iid the attorney general in termlnat- ing, by agreement with the corporation 1 affected or by suit. the unlawful con- duet or condition. In the section of ' the conditions surrounding business corporations despite the fact that there has been much agitation against i'm lnunTty to individuals who might tes- tfy or produce evidence in inquiries 1 conducted by the commission, i'm munity is granted to individuals, ex- cept for perjury. There is, however, no immunity to corporations. Access to Records, Etc.
 In detail, the bill sets forth that the commission shall require all corpora uionS engaged in commerce among the states, or with foreign nations. except common carriers. whether required by the general rules and regulations for regular Information or information es : pecialiy asked from time tu time. to
 furnish to the commission information. statements and records oI tneir organ ization. business, financial condition, conduct, mana cement and relation to degree and extent, and in such form as may be prescribed by the commis- sion"
 Striking at secret sessions of direc- torstes and other bodies, the bill di- rects that the commission shall have complete access to all records, ac- counts minutes. books and papers of the corporations. including the records of any of their executive or other com mittees."
 Penalty for Non Compliance. Failure or neglect of corporations te comply with this requirement.. after written demand and within such time as the commission shall fix, is made punishable as a misdemeanOr with & fine of S1.000 a day. upon conviction. The district courts of the United States, upon the commissions appli-
 cation, alleging a failure of witnesses
 to respond to subpoenas or to comply
 with any commission order for fur
 nishing of information, will have juris- diction to issue a writ of nandamus to enforce the commissions order and to punish the disebedience as In other eases of contempt of court.
 Terms Of Seven Years.
 The new commission would be re-
 duired to annually make a report on
 or before Jan. l, which is to be trans
 mitted to congress
 Of 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. respec-
 lively. All the commissioners except
 the first chairman would be appointed
 by the president. subject to conflrIna-
 ton by the senate, and subsequent ch3irmen would be elected by the con- mission from among the five.
 Attorney General McRcynolds said
 today that he expected to hold Several conferences later with the senate and
 house committees relating to all the
 antitrust legislation.