The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1914-02-28
TRADE COMMISSION BILL.
SENATE AND HOUSE COMMITTEES
BUSY PLANNING SUITABLE
LEGISLATION.
JTrisdiction to BE Granted Body Diff
ficult ProbIem-Understoo That
Provision VIII be Made for Annual
Reports and for Authority to Ini-
tiate Investigation.

tiolc illtSSilSdtlOn.
Washin' g.. Feb. 23.-Members OF
the sena' = house interstate COM
merce hittees today were busy
with te We drafts of the proposed
interst $ .rade commission bill, Tut
no &C lions were announced,
Tf - Ise subcommittee, head I'd by
HeI itative Covington of Mary
lar wrestling with the problem Of
ir & 70 big business the juris-
e. / of the proposed commission.
tentative section to cover this
says:
That all corporations, joint stock
companies and corporate combina-
lions engaged in commerce among the
several States or with foreign nations,
except corporations, joint stock COM
panies and corporate combinations
subject to the interstate commerce
act and its amendments having annual
gross receipts OF s3.000,0OO or more,
or having annual gross receipts Of less
than s3,O00,C00, but belonging to such
classes of corporations, stock compa-
nies and corporate combinations as
the commission may in its discretion
determine, shall furnish to the COM
mission annually such information,
statements and records of their or
ganiZation bond holders and stock
holders, business practices and rela-
tions TO other corporations, joint lock
companies and corporate combina-
tions as the commission shall require"
Some Of the main provisions likely
to be embodied in the subcommittee
draft Of the bill, it was unerstood,
would require:
That all corporations, joint stock
companies and corporate combina-
tons subject to the terms of the bill
annually shall report all required in
formation, statements and records Of
their organization, bond holders and
stock holders, business practices and
relations to other concerns of the
same class and answer specifically all
questions the commission may ask at
any time.
That failure TO comply within 80
days CT the required time be deemed
misdemeanor, subject to a fine OF
not exceeding $1,000 for every day
OF failure to comply.
That upon its own initiative or
upon reasonable complaint the COM
mission may" and upon the attorney
generals request "shalr' investigate
the organization, conduct and man
a.ement OF any concern subject to it's
Jurisdiction, and il any such IS found
violating the law the commission shall
report to the attorney general, set
ting forth these practices and what
conduct and readjustment is neces-
sary for the offending concern to con-
tinue business This report is to be
made public only upon the attorney
generals direction
That If the commission during an
investigation should obtain informa-
lion concerning unfair competition
and practices not necessarily viola i've
Of the existing law, it would report
this information to the president
upon whose direction alone it would
be made public.
That courts be authorized in any
equity suit brought, at the instance
of the attorney general, to refer,
either during progress OF the cause
or after Judgment to the commission
any aspect of the litigation or any
proposed decree, the commission to
report its findings to the court to be-
come part OF The record in Tho case.
That the commission report an
nually TO congress by December 1,
giving statistic, that would not con-
travene limitations on publicity and
recommending any necessary addi-
tioral legislation.
That TIE commission have as TO
all these concerns the same power
and authority as the present law
confcrs on the interstate commerce
commission as to railroads and other
common carriers.