Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1914-04-15
TRUST BILL MADE
TO FAVOR LABOR
Revised Measure offered II
House Tones Down Most
Drastic Provisions.
HAS APPROVAL OF WILSON
unionc Are Not Exempted From Prose-
cution, but Powers OF the
Courts Are Curbed.

II Washington, d. c., April IA re
vised administration trust bill. partly
lcomplying with the demand of organ
lied labor that it be exempted from
prosecution under the Sherman law,
was introduced in the house today by
Representative Clayton. chairman OF
the judiciary committee.
REPRESENTATIVE p. Covington OF
MARYLAND presented a report on behalf
of the interstate commerce commls-
sion urging the passage of bill Gre
ating a trade commission, when shaii
preserve competitive conditions, but
not regulate monopoly or control
prices.
The new Clayton trust measure has
been approved by President Wilson,
and preparations will be made at once
to pass II in the house. Consideration
of the new bill will be begun by the
| judiciary committee on Thursday. me
| ledaers say that report will be made
to the house within the next few days.
Labor Provision Main Feature.
| The outstanding feature of the anti
trust program is found in the provis-
ion dealing with labor. In the Clayton
I bill President Wilson gives formal no
tice that he is opposed to eXempting
organized labor and voluntary associ-
atoms of farmers from prosecution I'M
der the antitrust laws.
Section 3 of the Clayton bill gives
legal status to union labor as at pres
ent organized. but does not exempt II
| from prosecution for acts that are de-
clared by the antitrust laws to be IL
legal. AS a further concession to la
Dor Chairman Clayton embodied in
the bill provisions limiting the power
of the federal courts in issuing injunc-
lions and providing jury trials in cases
OF indirect contempt.
The Clayton bill provides that labor
unions as well as other mutual or
ganizations mot having capital stock
or conducted for profit" shall not be
restrained from carrying out the le-
Ultimate objects of such associations"
This does not estop prosecutions OF la
Dor unions IL they commit acts that
are held by the bill to be illegal.
personal Guilt" Standard Held.
Throughout the bill offered today
the principle of personal guilt is APP
piled TO all offenses that arr held TO
be unlawful In the revised program
Chairman Clayton has softened the
provisions prohibiting interlocking di-
Iectoratos and holding companies.
The tentative holding company"
bill was criticized on the ground that I
IL placed obstacles in the way of eX-
tensions that business men said in no
wise menaced the public welfare. The |
substitute provisions proposed in this |
regard are aimed only at what are |
known as bad" holding companies.
Section prohibits a corporation |
from acquiring control over a competi- |
tor where such acquisition might tend |
to the creation OF a monopoly in any |
line of business. The prohibition does /
not apply TO corporations purchasing /
stock solely for investment purposes. |
Violation of the holding company
prohibition is made punishable by a
fine of not exceeding $1,000. or impris-
for one year, or both.
Bars InterIocking Directorates.
Important changes were made in the
provisions relating to interlocking d.
rectorates. The tentative bill deal
ing with this subject prohibited inter
locking directorates among banks re-
CARELESS of capitalization. The Clay
ton bill excerpts all banks with re-
of less than s2.5O0.OO0 from I,
the application of the proposed law.
There is another new section affect
ing private bankers and trust COM
Danies in all cities with a population
n excess of 100000. This reads as
follows:
mo bank, banking association, or
rust company organized and doing
business in any city or town of more
han 100000 inhabitants shall have as
director or other officer or employe
my private banker or any director or
'ther officer or employee OF any other
bank. banking association. or trust
company located in the same place"
Violation OF the prohibition against
hterlocking directorates is made pun
shable by fine OF 500 a day fo- each
lay OF continuance or by imprison-
nent for such period as the court may i
designate. not exceeding one year, or
10Th.
Court Power Remains Limited.
The provisions limiting the power q,
4 the courts In issuing injunctions =
nd Furnishing for contempt are the !,
anne as those that were carried in the
ills on these subJects that were pass :
d by the democratic house in the Six
y-second congress. Section II pro-
ides that no Injunction shall be is
ued without notice unless il should
ppear to the court that the giving of :
UGH notice would result in "immedi- :,
to ana irreparabie injury"
In such cases-a temporary restrain
TX order may be Issued without no
ce Such order shall expire within
IN days after its issuance. and shall
sfine the injury feared and state why
was irrsparable and why the order G
as granted without notice"
Notice.
Proposals for piles.-U. :. Engineer G