Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1914-03-16
Commission of Three to
be Provided to Regulate
All Corporations.
SALARY $4,000 YEAR
President Turns Attention to
Measure to Prohibit Inter
locking DireCtorateS.

washington, d. c. March lo.-Nltn
/ The revised interstate trade commis-
a, hill completed by the subcommit-
80 of the house interstate commerce
,onmittee TO the satisfaction
- the administration, President
wilsop today turned his attention to
consideration OF other phases of the
antitrust prog am. and planned to con-
ssr with Chairman Clayton Of the
house judiciary committee and his
,or;eaeues on a revised bill to pro-
sib,t iuterlocking directorates-
The interstate trade commission bill
,s made public last night was agreed
10 by democrats and republicans OF
he house committee on interstate
commerce today and favorably report
Cd
Here are the main features OF the
trade commission bill:
The commission shall consist OF
three members appointed by the presi-
dent with a salary of $4,000 a year
10 serve for six years. not more than
rxo OF whom shall be of the same po-
litieal party.
Corporation Bureau Absorbed.
Upon the organization of the trade
commission the bureau of corporations
viii be absorbed and cease to exist.
The principal Office of the commission
all he maintained in Washington, but
the commission has authority to hold
hearings in any part of the country
All ro-ernment records and arch
ives relating TO corporations shall be
placed at the disposal of the trade
commission and the agents OF the COM
mission shall have the authority to ex-
zuine ard copy any documentary evil
derce OF any corporation under investi-
CATION.
Every corporation engaged in inter
state commerce having a capital or
$1,000 900 or more. shall make annual
reports giving complete statistical and
other information as to its organiza-
ton and operation. and special reports
may be demanded by the commission
when 1t desires. Smaller corporations
may also be required to make reports
under certain circumstances.
The commission is empowered to
make inquiries upon the suggestion OF
the president. the attorney general, or
either house of congress to ascertain
whether any corporation is violating
the trust laws. and in its report may
suggest methods of restoring competi-
ton and permitting the trust to pro-
coed in harmony with the law.
Courts May Refer Cases.
Any court which has under consid-
erstion a petition in equity alleging
violation OF the antitrust law may re-
fer the case TO the commission for in
Testigation and report.
The trade commission shall have the
same powers already conferred on the
Interstate commerce commission relat-
ing to the issuance of subpoenas and
the attendance and testimony Of wit
nesses and the production of books
and papers
The commission shall maks an an
nual report 10 congress Of its proceed
ings and orders
That the commission may publish or
withhold from publication in its dis
cretion any OF the information which
obtains from corporations
That the powers of the commission
are not be be construed to prevent or
Interfere with the attorney general
n Offering either the antitrust acts
or the acts regulating commerce.
BowIes is Summoned.
The senate lobby committee has
summoned President Bowles OF the
Fore River Shipbuilding company TO
testify as TO the alleged lobbying for
Panama canal tolls exemption.
Rockefeller May Testify.
John d. Rockefeller's connection
With the Colorado Fuel & Iron COM
pany which figured in the Colorado
coal strike. will be discussed at
meeting Of the house subcommittee
On mines Friday. with a view 10 deter
mining whether Rockefeller will be
asked 70 testify or whether HIS deposit
ucn Will be taken.
Wants Roads TO Settle.
As a sequel 20 the recent investiga-
non Of railroad financial affairs, Sena-
tor Kenyon introduced a bill for relief
a "wronged and defrauded share
holders In corporations engaged In in