The Birmingham age-herald., 1914-06-06
ABSTRACT TRADE
 COMMISSION BILL

Washington, June 1.-The Covington trade convention bill, the first measure on the administration antitrust pro- gramme as considered in the House would create a commission with broad inqus- torial powers over corporations engaged in interstate commerce. The bill would turn over to a commission of three mem bers the power now held by the bureau of corporations in the department of com- merce, and confer on the commission addi- tional powers
 The bill provides for the appointment of three commissioners, no more than two of one political party. by the President. The commissioners would serve six years at $10000, and employ a secretary at s5000. The commissioners would be barred from engaging in any other vocation while serving.
 After abolishing the buerau of corpora tions and the positions of commissioner and assistant commissioner of corpora tions the bill would turn over the organi- zation and powers of the bureau to the new commission It then provides that all corporations, with capital of not ssss than $5,000,000, except those now subject to the interstate commerce commission, shall submit annual reports, records of it's organization, bondholders and stock holders and financial condition to the commission. The commission may also ueSlSndte cOIpDrdtlODS 'ndV1nS a cdpltdl- ization of less than S5,000,0 GOO from whom it desires reports. It may call for special reports in addition to the regular an- nual statements required by the bill. and would provide a penalty of S100 day for delay in filing reports
 Upon the direction of the JPresdent the Attorney General or either house of Congress. the commission would be au- thorized to investigates and report the facts relating to any alleged violations of the antitrust laws. The commission would also recommend possible readiust- ments of the business of corporations so investigated in order that they might conduct their business in accordance with the law. When the commission finds in- formation as to any unfair competition or practice in commerce, not necessarily constituting violation of the law" it is called upon to report to the President and aid him in making recommendations to Congress for remedial legislation.
 Take Charge of Cases
 The bill would authorize the commits sion to take charge of cases in which the courts have decided a complainant en- titled to relief under the antitrust laws and recommend 'an appropriate form of decree to the court, It would also em- power the commission on it's own initia- tive or at the request of the Attorney General to investigate the manner in which decrees under the antitrust laws have been carried out. A report on such investigations would be submitted to the Attorney General for action
 The commission is given wide authority to make public all information secured in the course of its investigations, and fs called upon to submit report to Con- gress on or before December each year. This report would include such \informa- tion as the commission has sechred and such recommendations as to additional legislation for the regulation of corpora tions in commerce. The bill provides how ever, that no trade secrets or private lists of customers shall be made pub lie in the reports of the commission.