The review. [volume] (High Point, N.C.) 1908-19??, 1914-01-29


lief against threatened conouct VIZ
will cause loss or damage is granteo
nv courts of equity
IT Is required that proper Oona
sba11 he executed against damages Tor
On Injunction improvidently granted
.nd If must be shown that the Danger
Of irreparable loss or damage is I'M
mediate.
Hits lnterIocking Directorates.
Concerning directorates, the bill on
that subject which Is to become e1-
fective two years from date OF ap'
nroval of the act, provides:
"No person engaged as an 1nd1vld-
nal or as a member of partnership
or as a director or other onlcer OF a
corporation in the business OF selling
railroad cars or locomotives, or rail-
road rails or structural steel, or min
ing or selling coal, or conducting
hank or trust company, shall act as
director or other officer or employe OF
anv railroad or other public service
cornoration which conducts an inter
state business.
mo person shall at the same time
he a director or other officer or en-
plove in two or more federal reserve
banks, national banks, or banking as
sociations, or other banks or trust
companies which are members OF any
reserve bank; and private banker
and a person who is a director In any
state bank or trust company not oper-
ating under the provisions OF the re-
cent currency law shall not be eligible
to serve as a director in any bank or
banking association Or trust company
operating under the provisions OF the
law"
Violation of these sections Is made
punishable by fine of $500 day, or
by Imprisonment not exceeding one
year, or both.
If any two or more corporations
have common director or directors,
the fact shall be conclusive evidence
that there exists a real competition
between such corporation and such
elimination of competition shall be
construed as a restraint of Interstate
trade and be treated accordingly.
The trade commission bill provides
for commission of five members, with
the commissioner of corporations as
chairman, and transfers all the exist
ing powers of the bureau of corpora
| tons to the commission.
The principal and most important
| duty the commission besides conduct.
ing investigations will be to aid the
| courts when requested in the forma-
| ton of DEGREES of dissolution.
With this in view, the bill empow'
ers he court to refer any part of pend
| ing litigation to the commission, In
| Guiding the proposed decree, for 1nfor
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 whe
claim they do not go far enough. II
will be declared that the definition o.
monopoly remains Inadequate that the
prohibition of unfair trade practice
does not cover 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.
It is interesting to note that tn
proposal to place the burden of proc
upon a combination believed to be vic
lating the law has been omitted. N
attempt is made to prevent or destro,
monopoly based on patents. The grea'
est difficulty experienced in the effect
i've enforcement of the law has bee
I - I4 IN
the courts to impose Jail penalty.
, remains optional under the propose
measures whit the courts to fine o
imprison.
Trade Board May Disappoint.
: In connection with the trade CON
r mission President Wilson declared
r his message that the country ID
: mands such a commission only as
indispensable instrument of informs
: ton and publicity as clearing nous
t for the facts by which both the pu
J. lie mind and the managers Of gre;
t business undertakings should
+ guided"
l. The bill prescribes that the commi
e sion acts are to constitute a publ
e record" but the body is authorize
r to make public the information .
such form and to such extent as mi
e. be necessary" or 'by direction OF Il
e attorney general"
10 It is apparent that the public n11
s. cannot be guided unless 1t has t.
e, facts, and then it will not get unle
e the commission or the attorney &c
1T eral deems it polite.
n Settlement Of Differences.
Of The most important feature Of t
bill is that which, legalizes the poll
of the administration Of terminate
ut an unlawful condition by agreeme
st between the combination attacked a
to the attorney general.
We This feature Is comprehended unc
be a section which requires the comm
of sion, upon the request Of the attorn
nv general or any corporation affect
nd to Investigate whether combinat7
is violating the law. In case the &C
in mission should find the violation