The Idaho recorder. [volume] (Salmon City, Idaho) 1886-1927, 1914-02-05


ual or as a member of a partner,s
or as director or other ofacer :
| corporation in the business of san.
| railroad cars or locomotives. or
road rails or structural steel. or n
ing or selling coal, or conductiny
bank or trust company, shall act !,
| director or other officer or emplovs
any railroad or other public serv,
corporation which conducts an IN.
state business.
mo person shall at the same II,
be director or other officer or !.
ploye in two or more federal resar,
banks. national banks, or bankjnp
sociations, or other banks or tr.E
companies which are members of A.
reserve bank; and private banss
and a person who is a director in =
state bank or trust company not ons'
ating under the provisions of the \
cent currency law shall not be eligblR
TO serve as director in any bank
banking association or trust comma,
operating under the provisions of M
law"
Violation OF these sections ia madg
punishable by a fine of 500 a day. \.
by imprisonment not exceeding o.,
year, or both.
II any two or more corporatioel
have common director or directorN
the fact shall be conclusive evidene.
that there exists q real competitin
between such corporation and sucS
elimination Of competition shall n
construed as restraint Of interstab
trade and be treated accordingly.
The trade commission bill proyids
for commission Of FIVE members, wib'
the commissioner Of corporations y
chairman, and transfers all the exist
ing powers of the bureau OF corpon
lions to the commission.
The principal and most important
duty the commission besides conduct.
ing investigations will be to aid Ii.
courts when requested In the forma.
ton Of DEGREES of dissolution.
With this IN view, the bill empov.A
ers he court to refer any part of pend.
Ing litigation to the commission, In!
GLIDING the proposed decree, for inforl
nation and advice.
Much Criticism for Bills.
The trust bills as framed will be
the subject of sharp criticism on the
part Of progressives Of all parties who
claim they do net go far enodeh. Il
will be declared that the definition Of
monopoly remains inadequate that the
prohibition Of unfair trade practice
does not coveS this evil in our econ.
omic life that interlocking stock con
troll Is not covered and that the pow.
ers Of the proposed trade commission
are insufficient
1t is interesting to note that the
proposal to place the burden of proof
upon combination believed to be VIC
lating the law has been omitted. No
attempt Is made to prevent or destroy
monopoly based on patents. The great.
est difficulty exerienced In the effect
i've enforcement of the law has been
found to be in the unwillingness OF
the courts to impose Jail penalty. II
remains optional under the proposed
measures whit the courts to fine o.
imprison.
Trade Board May DIsappoInt.
In connection with the trade com
mission President Wilson declared IL
his message that the country de
mands such commission only as al
indispensable instrument of informs
ton and publicity as a clearing houst
for the facts by which both the pub
lie mind and the managers of grea
business undertakings should b.
guided"
The bill prescribes that the commits
sion acts are to constitute a "publi
record" but the body is authorize
to make public the information "il
such form and to such extent as ma
be necessary" or by direction of tn
attorney general"
1t Is apparent that the public min
cannot be guided unless 1t has tn
facts, and then 1t will not get unles
the commission or the attorney ger
eral deems 1t polite.
In other words, public hearings viii
not be held as they are held by tn
interstate commerce commission.
Settlement of Differences.
The most important feature OF tn
bill Is that which legalizes the polio,
OF the administration of Terminating
an unlawful condition by agreemen
between the combination attacked ant
the attorney general.
This feature Is comprehended unde
a section which requires the commits
sion. upon the request of the attorne!
general or any corporation affected
to investigate whether a combination
Is violating the law. In case the com
mission should find the violation Il
exist 1t must report to the attorne!
general a statement of the objection
able acts and transactions and tn,
Establishments necessary for the OF
Tending combination to conform Il
the law.
These conclusions are to be lad
visory to the attorney general in ter
minating by agreement with the cor
poration affected or by suing the saiC
unlawful conduct or condition"
In other words, whatever may b
the agreement made by the attorney
general with the combination investi
gated, 1t viii give the reorganizet
combination legal standing. so long a
1t conforms to the term Of the agree
ment.
Thus It is proposed to place by Law
q tremendous power in the hands o
the attorney general This power hal
haau aa1nuaod 20 uaDoral