The Tabor independent. [volume] (Tabor, S.D.) 1913-19??, 1914-03-19
WILSON APPROVES
REVISED MEASURE

y. sNnSh1uSLOH maTCn II.-WlIn the re-
vtsed interstate trade commission bill
completed by the House subcommittee
on che judiciary to the satisfaction OF
the administration, President Wilson
turned his attention today to consider
alton OF other phases of the antitrust
program. He planned to confer with
Representative Clayton, chairman of
the judiciary committee. and his coll
leagues. on a revised bill to prohibit
t~nterlocking directorates.
whether the new bills should in
'clude any provisions exempting labor
unions from the operation of the pro-
posed law has not been discussed with
the president 1t became known today,
Though h American Federation Of
Labor Is publicly asking for the ex-
etnption, the president has not had the
subject called to, his personal attention
and Ii Is expressed to be his view that
the Lines the committee were working
on with a view to trust legislation do
Q touch on the labor phase Of the
problem. -
&h"& What Measure Provides.
Powers of investigation safeguarded
by proper Legislative limitations
against unlawful searches and seizures
are taken from a new subordinate de-
partment under the control of the ex-
ecutiye and given to this nonpartisan
body.
The bin would transfer all the pow
ers and duties of the bureau of cor
porations n the commissioners of cor
porations to the proposed commission
of three members, presidential ap-
pointees subject to confirmation whose
salaries would be $10,0 900 annually each.
Only w of the commissioners could
be o the same political party.
Ihe bill defines as corporations all
bodies incorporated under the law, and
Joint stock associations and all other
associations having shares Of capital
OF other capital stock or organized to
carry on business for profit.
Section 8 of the bill requiring an
nual reports to the commission would
provide that:
livery corporation engaged in COM
meree, excepting corporations subject
to the acts to regulate which,
by itself or one or more other cor
porattons owned. operated, controlled
OF organized in conjunction with it so
as 30 constitute substantially q BUSH
ness unit has a capital of $4,000, 900 or
more or has less capital. and belongs
TO any class of corporations which the
commission may make, shall furnish to
the commission annually such Informal
tioA statements and records of organi-
zatton, bondholderS and stockholders,
a financial condition and also such
Information, statements and records of
Its relation to other corporations, and
its business and practices while en-
gagged In commerce as the commission
shah require. And the commission may
abb II to carry out the purposes of
the act and prescribe as near as may
be q uniform system of annua reports.
The annual reports shall contain all the
required information and statistics of
a period of IL months, ending with the
fiscal year of O corporations report,
and they shall be made out under oath
OF otherwise, in the discretion of the
commission, and filed with the commits
sion at its office in Washington within
three months after the close of the year
for which the report is made unless adj
ditional time is granted in any case by
the commission. The commission may
also require such reports unless add
tional time be granted in any case by
the commission. The commission NAV
also require such special reports as 1t
may deem advisable"
g.. VioIators PenaIized.
This section penalties violations at
500 a day. The Clayton bill made no
Such clasSifiCationS OF corporations, but
penalized violations at $1,000 a day.
Authorizing Investigations and re-
ports by the commission the bill would
proYide that:
Sec. 10. The commission shall,
upon the direction of the president, the
attorney general or either house OF con-
gross, investigate the organization,
management and business OF any cor
poration while engaged in commerce.,
to aid In ascertaining whether or not
the corporations Investigated in vioIat-
ing the acts creating the restraint of
trade and the commission shall make a
report of such investigation, which
may include recommendations for re-
adjustment OF business in order that
such corporation may thereafter MAIN
tain It's organization, management and
conduct Of business in accordance with
law. Reports made after Investigation
may be made public In the discretion of
the commission"
Sec. ii. When in the course Of any
Investigation made under the act the
commission shall obtain information
concerning any ""Sair competition or
practice in not necessarily
constituting a violation of law by the
corporation Investigated, 1t shall make
a report Il, the president to aid him In
making recommendations to
for legislation in regulation of COM
merce, and the information 80 obtained
and the report thereof. shall be made