Arizona republican., 1914-03-11
TRUST PLANS
 0F PRESIDENT
Opposition Growing in Con- gress to Them in the Fear That the Sherman Law Will Be Endangered - Opposed by Newlands

A peeial dispatch to the Chicago Tribune from Washington. indicates that the administration anti trust leg islation will not have easy sailing. Says the dispatch:
 Opposition is growing steadily in congress to tentative bills proposed for inclusion in the administration anti trust program designed to supplement the Sherman law
 Many leaders in both houses believe the sherman law as it stands today leaves little. if any, "debatable area, and that to tamper with it might re- suit in judicial confusion endangering
 the effectiveness of the act.
 Voice to this view was given today
 in a hearing on the proposed trust legislation before the senate interstate commerce committee by Senator New lands, the chairman. NewIands Voices Opposition
 Though these measures are known as administration bills" Senator New. lands said they never have been formally introduced in either house of congress and the committees must de eide what should be done with them. For one-and there are others who share this same view-I believe that the Sherman law is ample to regu- late unlawful monopoly and unfair or unjust competition.
 With an interstate trade commits sion and law to regulate the issuance
 of railroad securities to add to the force
 of the sherman law I believe the
 country would be amply protected against business evils
 Similar views have been expressed by other senators. republicans as well as democrats and members of the house, and there is a growing disposi- | tiOn to amend the language of the definition and trade regulations bill in l marked degree if not to eliminat?
 them from the trust program alto
 gether A hearing on this bill mas been promised for the near future. Criticses Portions Of Bills | Charles F Matthewson of New York. speaking for the chamber of commerce of the United States. criticised portions
 of the proposed bills for amendments
 to the act. The section prohibiting dis
 crimination in price to injure com
 petitor. he said, was inadvisable for the | reason that it would destroy competi- l ton.
 | The provision that owners of mines must sell their product to the public without discrimination he said virtual l ly made a public utility out of mines | This, he said. was illegal and inadvis- | able. It would prevent railroads, for | instance. from providing themselves
 through holding companies. with sup plies of coal.
 Believes Law Would Be Weakened 1 The bill to define various acts as il- l legal Matthewson held, would weaken i the Sherman law. He and President
 Van Hise of the University of Wiscon-
 sin agree that only such combinations
 should be prohibited as were contrary to the public welfare without trying to define them specifically. | The bill to prohibit interlocking d-
 rectorates. Matthewson thought should 1 were direct business relations among
 the corporations involved He added I that he would not advise that a trade i commission be permitted to say in ad- vance that the government would not ! object to certain forms of organiza tion Charles R. Van Hise, president of the l University of Wisconsin. urged that the | congress should omit from the trust | program bills which attempt further to
 define unlawful restraints. He also de-
 clared any trust legislation should recognize and regulate cooperative corporations.
 indorses U. S. Stock Regulation Albert H. Harris, vice president and general counsel of the New York Gen. tral lines, indorsed before the house judiciary committee the proposal to
 have the government regulate the issuance of stocks and bonds by rail-
 roads through a federal incorporation act.
 l A federal incorporation act, Mir Har- ris asserted, would be constitutional, in
 his opinion, and without it the govern ment would find it difficult to control
 railroad securities. Railroads, he said
 were much disturbed because of the necessity of applying to various state commissions for authority to issue bonds
 Thomas B. Harlan of St Louis and others testified regarding interlockine directorates and other subjects of anti trust legislation
 MT. Harlan told the committee there ought not to be any general Legislation against interocking directorates. hu1 that legislation might be advisable under which interlocking directorates would not be permitted to profit through their interlocking connections