The Washington herald., 1914-01-22
= fa
TRUST BILLS now
WELL Under WAY
Representative Clayton May
Report -Four Measures
Tomorrow.
ADJOURNMENT BY JUNE /
Senate May Tackle. Rural Credits
While House Regulates
Monopohes.
ADJOURNMENT BY JUNE l

The working out of President Will
sons scheme for the elimination of
monopolistic tendencies among indus
trial corporations and throughout the
business world is now under way in
the House Committee on the Judiciary.
Probably by tonight Representative
Clayton and his colleagues of the DEM
ocratic membership of that committee
will have completed the. draft OF All
four measures They will then be In
troduced in the House. probably to-
morrow, under Mr.. Clayton's name.
The bill which the Committee on the
judiciary is expected to father Will be
q bill clearly delineating and defining
phrases in the existing statute regard
ing which there have been controver-
sizes and complicated decisions by the
higher courts. This bill will fix the
meaning of what constitutes competi-
tive conditions in industry. 1t will also
specify what character Of trade agree
ments constitute restraint of trade. and
define specifically the various possible
components of conspiracy to defeat
the operation Of the Sherman anti
trust law.
Another bill will provide for the crea-
tion of the Interstate Trade Commits
sion suggested by the President in his
address. The bill will confer upon this
commission the powers to inquire into
the internal affairs of corporations, and
their relations one to another.
Another bill will forbid the further
continuance of interlocking directorships
IN potentially competing corporations
General Trade Relation Bill.
The Committee on Judiciary probably
will not write and introduce the bill EN-.
powering the Interstate Commerce Com
mission to regulate the issuance Of stocks
and bonds by common carrier corpora
tons Upon this point members Of the
Judiciary Committee decline to be
specific. There is a disposition among
them to permit, without interference,
this measure to be referred to the Com
mittee on Interstate and Foreign Com
merce. -
There will be a general trade rela-
ton bill framed to establish definitely
the line of de- .rcation between COM
bination in restraint of trade and hara-
kiri competition. In this bill will be en-
bodied provision for the punishment OF
individuals guilty of participation IN
trade conspiracies and a relief for the cor
porations Observation-Disclosures pun
ishment for the misconduct Of stock
holders and corporation officials.
Underwood and Wilson Confer.
Representative Underwood held a con-
ference with President Wilson yesterday
regarding the legislative program oi
which the trust problem is the most inn
portant factor. Following the conference,
Mr.. Underwood predicted that Congress
might adjourn by June 1. Under the leg
islative program which Mr.. Underwood
outlined, time will be saved by the House |
of Representatives not endeavorinGg to be |
the rfnitiator of both the rural credits !
bill and the four or five antitrust meas |
ures. Under Mr.. Cnderwood's plan the
House will consider the trust regulation
measures, while the Senate has before IL
fhe rural credit bill. As the House
measures are passed up to the Senate, II
is believed that the Senate will have ac-
complished its work with the rural cred
its bill, and the two programs will there
upon be shifted. Conferences on the COM
bination of measures could thereafter be
run coincidently, and the appropriation
measures would follow their own course
through both Houses. 80
Representative Adamson, OF Georgia,
chairman of the House Committee on In
terstate and Foreign Commerce, is now
outlir 'ng his committee work on its share
Of the antitrust program. He held
lengthy conference yesterday with p. ].
Farrell, Solicitor for the Interstate COM |
merce Commission, and arranged for CO. /
operation of that body with his own COM
mittee in framing the bill which will give /