South Bend news-times. (South Bend, Ind.) 1913-1938, 1914-01-24
DRASTIC BILLS
AGAINST TRUSTS
GIVEN To HOUSE
Rep. Stanley, Who Figured in
investigation of Steel Cor
pOratiOn, Files Two Meas
ureS to Restore Competition.

WASHINGTON, Jan. 24.-DraStic
antitrust bills regulating interlocking
directorates and defining restraint of
trade were introduced Friday by Rep.
Stanley of Kentucky, chairman of the
steel trust investigating committee.
These bills are not backed by the
administration, although the presi-
dent and Mr.. Stanley conferred. The
bills were sent to the house interstate
and foreign commerce committee and
will be considered in connection with
other bills. Rep. AdamsOn says his
committee is not to be hurried" and
that time will be given for considera
ton of all important measures.
rep. Clayton of the judiciary COM
mittee says he has given two weeks
TO the consideration of federal trade
commission as recommended by the
president and has produced his bill"
said one important member OF the
house interstate and foreign COM
merce committee.
1--WE have given more than year
of study to this question and we have
not decided on the best method.
Not Demanding Haste.
Before these trust bills get out of
our committee" he continued, time
will be given to interested parties to
be heard. This is no game Of rush
with US. The legislation is too i'm
portant to the country and Pres. VIII
son is not demanding haste"
Taking personal charge of trust leg
islation, Rep. AdamSon called Friday
his subcommittee for conference. He
held personal interviews with Sen.
Newlands of the senate commerce
committee and with Chairman Clay
ton of the house judiciary committee.
The drastic bills presented by Rep.
Stanley find favor.
In his bills Mr.. Stanley provides
that no corporation shall engage in
mining, manufacturing. canning,
packing, preserving, or diStillation of
any interstate commodity unless 1t
complies with these requirements to
be stated in it's charter:
The business in which it is author
lied to engage and the location of it's
executive offices.
That il has and exercises only such
powers as are necessary or are incl
dental to its business.
That it is not authorized to exercise
any franchise or power or to perform
any act forbidden by the laws of the
state in which it is Incorporated.
can't OWN the SlOck.
That it does not own, hold or con-
troll in any manner whatsoever the
stocks or bonds or securities of any
other corporation engaged in a SINH
lar or competing business except such
stock as may have been pledged in
good faith to secure a bona tide in
debtedneSS, acquired upon foreclosure,
execution sale, or otherwise for the
satisfaction of debt, in which event 1t
may hold such stock for period not
exceeding so days; that it is not au-
thorized to enter into any agree
ment by which its own stock, bonds
or other form of securities shall be
owned, held or controlled in any man
ner whatsoever by any other associa-
ton or corporation engaged in a SINH
lar or competing business.
That il does not own or hold in
whole or in part, directly or indirectly
by stock ownership or otherwise, any
railroad or other line of transporta-
ton by land or water, or property or
either of any common carrier.
For Personal Recovery.
The other bill presented by Stanley
provides for personal recovery by any
individual who has been injured in
business or property through ruinous
methods employed by corporations.
The burden of proof that no restraint
Of trade exists Is placed on the ac-
cused. The bin declares:
That whenever il shall be establish
ed in any suit, that any contract or
com binatiOn was entered into, which
in any way tends TO restrain trade or
commerce, or limits competition, as
defined in this act, or in the act or
July >, 1890, then such contract or
combination shall be cOncluSiVely
deemed TO be unlawful as TO any par
~ thereto. who in carrying on any
business 10 which such contract or
combined rates. shall be guilty OF any
concealment or misrepresentation as
10 the ownership or control OF such
business or any misrepresentation as
TO the identity of the manufactures,
producer or vendor OF any article sold.
or shall discriminate between differ
ent persons, firms. associations or cor
poratiOns. or different sections or
communities by selling any cOmmOd-
ity or rendering any service at low
CT rate in one section, community or
CITY than another: or at a different
rate or price at any point away from
that Of production and manufacture
"a at the place OF production or man
ufacture after making allowance for
the difference If any in the grade,
quality OF quantity. and in the actual
cost Of transportation from the point
OF production Of manufacture.
Other Acts To- Stand.
The foregoing enumerations of acts
conduct. method and devices shall not
include and shall not be construed to