The citizen-Republican. (Scotland, Bon Homme County, S.D.) 1???-19??, 1914-03-19
WILSON APPROVES
REVISED MEASURE

washington. March 17.-With the re-
vlsed interstate trade commission bill
completed by the House subcommittee
on the 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 col
!eagues, on a revised bill to prohibit
1nterlocklng 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 it became known today.
Enough the American Federation of
Labor is publicly asking for the ex-
empton, the president has not had the
subject called to his personal attention
and 1t is expressed to be his view that
the zines the committee We're working
on with a view to trust legislation do
not touch on the labor phase of the
problem.
What Measure Provides.
Powers of investigation s~afeguarded
by proper legislative limitations
against unlawful searches and seizures
are taken from a new subordinate de-
partment under the control of the ex-
ecltVe and given to this nonpartisan
bo6y.
The bin would transfer all the pow
ers and duties Of the bureau of cor
porationS and the commissioner of cor
porations TO the proposed commission
OF three members, presidential APP
Pohatees subject to confirmation whose
salaries would be $4,000 annually each.
Onfy two of the commissioners could
be from the same political party.
me bill dehne as corporations all
bodies incorporated under the law, and
joSxlt stock associations and all other
q GSnpIpIJ0nG haNyir7pr S1, wa ~P .o-,toI
or III capital stock or organized to
carry on business for profit.
Section 8 of the bill requiring an
nuai reports to the commission would
provide that:
"kEyery corporation nga in com
MERGE, excepting corporations subject
to the acts to regulate hic
eR s&Self or one or more other cor
poTations owned, operated, controlled
or organized in conjunction with it SO
as to constitute substantially a bust
ness unit, has a capital of Sc, 200, 900 or
more or has less capital, and belongs
to II class of corporations which the
commission may make, shall furnish to
the commission annually such Informal
ton statements and records Of organi-
Zation, b~ondholders and stockholders,
ana condition and also such
information, statements and records of
It's relation to other corporations, and
Its business n practices while en-
gagged In as the commission
shall require. And the commission NAV
enable 1t to carry out the purposes of
the act and prescribe as near as NAV
be a uniform system of annual reports.
The annual report shall contain all the
required information and statistics of
a period of 10 months, ending with the
flscai year OF each corporations report,
and they shall be made out under oath
or 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 wear
for which the report is made unless adj
ditional time is granted in any case nv
the commission. The commission may
also require such reports unless addi-
tonal time be granted in any case by
the commission. The commission may
also require such special reports as it
may deem advisable"
Vioiators PenaIized.
This section penalties violations at
s166 a day. The Clayton bill made no
such classidcations of corporations, but
penalized violations at $1,000 a day.
Authorizing Investigations and re-
ports by the commission the bill would
provide that
sec. 10. The commission shall,
upon the direction of the president. the
attorney general or either house of con-
gress, 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 violat-
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
sach corporation may thereafter main
tam it's organization, management and
conduct of business in accordance with
law. Reports made after Investigation
MAJ be made public in the discretion of
the commission
Sec. il. When in the course Of any
investigation made under the act the
commission shall obtain information
concerning any ""fair competition or
practice in m tot necessarily
constituting a violation of law by the
corporation investigated, it shall make
d report to the president to aid him in
making recommendations to congress
for legislation in regulation of COM
merce, and the information so obtained
and the report thereof shall be made