The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1914-03-19
WILSON APPROVES
TRUST MEASURES
Personal Guilt of Persons in Con-
troll to Be Prescribed.
WOULD PERMIT HOLDINGS
Corporations to Be Barred From Own
ing Stock OF Competitors, How
ever-Labor Unions Are
Not Exempt

Washington, March 17.-Presdent
Wilson. at conference with the house
| judiciary subcommittee on trusts, put
the stamp of administration approval
on the substance of the four bills to
amend the antitrust laws which the
committee submitted in practically
| final form.
President Wilson indicated this be-
| lief that it would be better TO CONSOLE
date all the bills into one In order TO
expedite legislation.
For Personal Guilt
| The president made number OF
suggestions To the subcommittee,
which comprised Representatives Clay
ton, Alabama; Carlin, Virginia, and
Floyd, Arkansas. He insisted that per
sonal guilt of individuals in control Of
corporations should be prescribed In
every bill in order TO break up the
evils that have resulted. under the
present antitrust laws The commit
tee will revise the bills with this in
view, and talk with the president again
before submitting the measures to the
full committee and to the house.
The draft of the holding corporations
bill had been completed just before
the conference. The measure would
make unlawful those holding compa-
MES that combine the stock OF corpora
lions SO as to lessen competition, but
would not affect companies which hold
the stock OF corporations that form es-
sentlal parts Of their business. Hold
ing companies that are entirely for
investment and not for business d.
rectly are not prohibited. This would
permit companies like the large insur-
ance concerns to hold the stock Of cor
porations which are not competitors.
The committeeman pointed out to
the president that the bill would save
to Industrial business the investor who
buys the stocks and bonds Of various
corporations, but ID not engaged in the
business of operating any OF them.
The bill applies to railroad-holding cor
porations, but not to subsidiaries,
drawing the line at substantial com
petitors.
Affects Many Lines.
1t includes cotton mills If made up
Of combined competitors, it would pro
hibit holding corporations of moving
picture concerns, which sought ex-
emption, and would strike at various
large holding establishments which
made pleas before the committee.
The so-called theater trust also
would be affected. Theater corpora
tons which hold two theaters In any
ono city, unless 1t could be proven they
were absolutely non-competing, would
be prohibited, but the bill would not
destroy a chain of theaters in different
cities In which there was no element
of competition.
Labor Unions Not Exempt
None of the four bills AZ now framed
provides for exemption of labor unions
from antitrust prosecutions.
The trade relations bill prohibits
manufacturers from contracting to pre-
vent a merchant from handling a com
petitor's goods. 1t prohibits final price
fixing to the consumer, though it per
mits the manufacturer or wholesaler
to fix the price at which goods shall
be sold in the first instance. az from
manufacturer to jobber.
Under this restriction, the first sale
OF manufactured article by It's pro
Queer would be at the same price
everywhere, plus the cost OF transpor-
tation. This bill gives the right Of in
Junction to individuals for threatened
loss or damage and the right to make
use Of government decree against
any corporation.
The interlocking directorates bill in
cludes a provision to prohibit directors
In various corporations selling to COM
panies in which they are directors.