Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1914-04-02
TO REGULATE TRADE
ONE ANTITRUST MEASURE is
WELL ON IT'S WAY TO
PASSAGE.
WILL BE INDEPENDENT BODY
Interstate Trade Commission Given
Power TO Investigate Organization
and Business of Any Corpora
ton Engaged In Commerce.
BY GEORGE CLINTON.

BY GEORGE CLINTON.
Neutrality-suspicious. OF the antitrust
measures prepared by the Democrats
in congress with the approval of Presi-
dent Wilson and Attorney General
McReynolds is on its way toward pas
sage. The measure is the one estab-
fishing an interstate trade commits
sion The Democrats in congress have
found that a good many of their Re-
publican brethren approve the bill in
the form in which it has been sub
mitted and there seems to be little
doubt that on it's final passage a con-
siderable Republican vote will be re-
corded in It's favor.
This commission measure was
unanimously agreed upon by its franz
ers who constitute a subcommittee Of
the house interstate commerce COM
mittee and in the membership of the
framing body were both Democrats
and Republicans
An Independent Body.
OF the bill Representative Coving
ton has said:
THE whole theory Of the creation
Of the commission has been to make
1t an efficient independent body. In
most of the matters of publicity 1t has
entire control OF the facts gathered.
Publicity is left to its discretion, and
the bill contains ample authority for
It to prevent the disclosures of those
necessary trade secrets, valueless to
the public, in promoting lawful COM
petitive business, but which, was dis
closed, simply afford opportunity for
injurious use by competitors. Powers
Of investigation, safeguarded by prop
er constitutional limitations against
unlawful searches and seizures, are
taken from new subordinate depart
ment under the control Of the execu
tive and given to this nonpartisan
body"
Under the interstate trade commits
sion bill all the powers and duties Of
the present bureau of corporations
and of the commissioner of corpora
tons are transferred to the commits
sion of three members. all of whom
are to be presidential appointees. sub
ject to confirmation by the senate and
each of whom will draw a salary of
$4,000 annually. Only two of the
commissioners can be of the same po-
litical party.
Every corporation that is engaged
in interstate commerce. except cor
pcrations subject to the act to regu-
10 - ioL hoe
tai of $5.000.000 or more or having
less caDitaI belongs to a class OF cor
porations which the commission nav
esta blish, is te be Obliged to furnish
to fms new BODY annually "such in
formation, statement and records of
organization, bondholders and stock
, holders and financial condition. and
also such opinion. statements and
records Of its relations to other cor
porations and its business and prac-
tises while engaged in commerce, as
the commission shall require"
Powers of the Commission.
Here is section 10 Of the bill which
shows specifically the powers of the
commission in matters of investiga
ton:
Section 10. The commission shall,
upon the direction of the president,
the attorney general, or either house
Of congress- investigate the organiza-
ton, management and business of any
corporation while engaged in com
merce. to aid in ascertaining whether
or not the corporations investigated is
violating the acts relating to restraint
of trade. And the commission shall
make a report Of such Investigation.
which NAV include recommendations
for readiustment of business in order
that said corporation may thereafter
maintain it's organization, manage
ment and conduct of business in &C
cordance with law. Reports made
after Investigation may be made pub
lie in the discretion of the commits
sion"
The annual reports which corpora
lions shall turn in containing the reH
CURED information and statistics for
the previous year must be made out
under oath and filed with the commits
sion at it's office in Washington with
in three months after the close of the
year, for which the report is made.
In cases of necessity it will be within
the power of the commission to grant
additional time.
If a corporation delays in turning
in it's report the bill as drawn penal
ICES it at 800 for each day of the
delay A provision Of one of the bills
proposed, but not accepted, placed the
fine at $1,000 day for delays in turn
ing in reports, but congress seems to
have thought that this was excessive.
Reading Test Is Sure.
Some weeks ago it was said in these
dispatches that before many months
had elapsed adult aliens seeking adj
mission to the United States would be
tested as to their ability to read. This
was written with full knowledge that
President Wilson would prefer that
the nteracy test should be excluded
from the law. Members of congress
who seemingly are in a position to
know Mr.. Wilson's mind on the subject
now seem to have no doubt that the
measure will get his signature. 1t is
virtually certain that neither senate
nor house will insist that the literacy
clause be excluded from the pending
legislation.
~~~~~-o~~-~~~-~~~-~--~~~"~~- ~~~~~~~~~~~~~-