New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-02-12
H. X. Smith CritiCiSes
McReynoIds for Ignoring
New England.
STANDARD OIL DECREE
REGARDED AS FARCE
Amendments to Antitrust Bills
Considered at Conference at
White House.


Washington. Feb. u.-Sharp criticism
n the administration agreement 10 with
hold antitrust prosecution OF the New
York. New Haven & Hartford Railroad
Company was made to-day before the
House Interstate Commerce Committee
hv Herbert Knox Smith. former Commits
sioner OF Corporations. lie said the Sc
cret compromise" between Attorney Cen
eral McReynolds and Howard Elliott
president Of the railroad. was UNFAIR 10
the people Of New England.
That compromise, affecting the pros
ncritv OF seven million people In New Eng
and. was made in secret conference
said Mr.. Smith. eve people Of New Eng
land had no hearing other interests eN-
emf those Of the railroad, were not let IN
To have given public hearings would nave
been moro fair
The results were made PUBIC sdiu
Mr.. Adsmson, chairman
Yes but not until after the agreement
was reached and all fixed, Mr. Smith re-
tortcd
But tho agreement IS not final de-
cree. is it, Representative Decker OF
Missouri. a Democrat, asked.
Practically it is" Mr.. Smith insisted
because the Attorney General has decd
I'd that no suit shall be brought
The former Corporation Commissioners
DID not impugn the motives of the Attor-
uev General or Of Mr.. Elliott crluclsins
merely the star chamber procedure IN
which the people were denied a voice
MIR. Smith appeared to advocate Bull
Moose antitrust bills. incidentally, he
disclosed some inside history OF past
antitrust prosecutions. lie said he ala
not know who started the Standard on
smt4thst former Corporation Commls-
sioner Garfield began the oil trust lnVes-
usation about the time that resolutions
proposing inquiry were introduced IN con
gross.
THE standard oil was one OF the cor
oorations which refused to give the COM
missioner information regarding its busi-
ness" said Mr.. Smith The supreme
Courts decree against the Standard on
did not create competition. II merely
sniff the company into thirty-four parts.
There were many curious and 1arcical re-
suits from the dissolution. Hundreds OF
illegal and unfair railroad rebates IN
favor Of STANDARD Oil were disclosed oy
the Commissioners report The railroads
Immediately wiped out the discriminatory
rates. That was the power OF puohclty.
lie said that competition must be vol
untary and cannot be forced. You nave
cot TO allow certain degree or concen-
tratipn-not monopoly" he said. Ihe
dav Of Individual competition has passed.
You can't make men compete
William Draper Lewis. dean OF the law
dcnartment Of the University Of Pennsyi-
,anla. also testified. He asserted that
nine out Of ten corporation dissolutlons
under the Sherman law have been futile
and often harmful.
Professor Lewis advocated the passage
Of the Murdoch bill, giving the Interstate
Trade Commission wider powers thah
those i'm the Democratic bills. lie pro-
nounced absolute nonsense the proNl-
siors In the administration bills for in
,estieation by the trade commission with
ant mower 10 act. except through the De
psrtment Of Justice.
REPRESENTATIVE MelL, Ioinlei Coltl oi'Ni
Of New York, urged the judiciary Com
nittoe TO permit drug manufacturers OF
natented or trade marked products TO fix
Wholesale and retail selling prices. lie
said such power would protect the small
druggist from the cut-price competition
NJ syndicate drug and department stores.
F. p. Grosvenor, Of the law firm or CAD
ualader. Wickersham & Taft OF New
York. asked the judiciary Committee 10 De
h.ard. lie will testify next week.
The President and seven members OF me
s.nate Interstate Commerce Committee
held a conference at the White House To-
d.v TO consider the proposed amendments
10 the FIVE antitrust bills now before the
committee. The main discussion concerned
these three proposals:
An amendment TO extend the powers OF
the proposed Interstate Trade Commission
and 10 prevent publicity OF trade secrets
and other information which may be re-
CURED by the commission from corpora
tons.
An amendment defining restraint OF trade
under the Sherman act and prohibiting
irterlockng directorates.
An amendment TO regulate holding com