The Washington times., 1914-03-16
COMMISSION TO
HAVE POWER TO
REGULATE TRADE
Revised Bill Provides for
Absorption of the Bureau of
Corporations.

The revised Administration trade conn.,
mission bill is ready for introduction in
the House, following its approval by the
President and the Attorney General and
practically the entire membership Of the
House Committee on Interstate and For
eign Commerce. The bill. made public
last night provides for the creation OF
an Interstate Trade Commission OF
three members, which is given wide
powers of investigation over corpora
tions engaged in interstate commerce.
Members of the commission are to be
appointed by the President and con-
firmed by the Senate. They will receive
$1,000 year and not more than two of
the commissioners shall be of the same
party.
Absorbs Entire Bureau
The new commission absorbs the Bu-
reau of Corporations. including the
working force. 1t is proposed. how
ever that the commIss on shall have
broader powers than the bureau, which
was directly answerable to the Presi-
dent The Interstate Trade Commits
sion will be an independent body. which
may investigate on its own initiative or
upon the request of the President, the
Attorney General, or either branch Of
Congress. Federal courts also are en-
titled to seek the aid of the commission
in antitrust suits.
Chairman Clayton. of the Judiciary
Committee, introduced the original trade
commission bill, but when the trust
program was mapped out the Interstate
Commerce Committee was given jurls-
diction Of this particular measure, the
judiciary Committee taking other anti
trust bills The bill now presented, is
x,,t, tfrrsn f0r- hn rlnt rrsa
and is quite different therefrom.
Favored By Two Parties.
The Administration bill received the
unanimous approval of the Democrats
and Republicans on the subcommittee
named to frame II. These were Con-
gressmen Covington, chairman: Sims,
Talcott, Rayburn. and Montague, Demo-
Gratis. and Stevens Of Minnesota, Esch,
and Knowland, Republicans
The bill will go into the House backed
by Chairman Adamson and probably
every member Of the Interstate Com
merce Committee.
The commission is to be given discre-
ton to make public the Information it
gathers concerning corporations.
Guard On Trade Secrets.
On this point, Congressman Covington
said today:
'aThe whole theory of the creation of
the commission has been to make it An
efficient, independent body. In most of
the matters of publicity, it has entire
control of the facts gathered Publicity
is left to its discretion, and the bill con-
taine ample authority for it to prevent
the disclosure of those necessary trade
secrets, valueless to the public in pro-
noting lawful competitive business, but
which, when disclosed, simply afford op-
portunity for injurious use by compet-
tors"
Annual reports Of all corporations hay-
ing capital Of $4,000, 600 or more must
be filed with the commission, and il has
the authority to order reports from
smaller corporations if deemed neces-
sary.
Authority of Commission.
A section of the bill reads:
''Section TO- The commission shall,
upon the direction of tine President,
the Attorney General, or either house
o< Congress, investigate the organiza-
tfon. management, and business of any
corporst on while engaged in commerce,
10 aid in ascertaining whether or not
the corporation Investigated is violating
the acts relating TO restraint of trade. |
and the commission shall make a re-
port o. such investigation, VIII. ch may
include recommendations for readjust-
ment OF business in order that said cor
organiza ton, management, and con-
duct OF business n accordance with law |
Reports made after investigation may
be made public in the discretion of |
the commission"