The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-01-13
WILSON READY FOR
ANTITRUST BATTLE
Cabinet Meeting Is Called to
Hear Draft Of Special
Message Read.
THREE VIEWS IN CONGRESS
Some Wish Delay; Others
Would Act Mildly, and o
Few Would Run Amuck.

WASHINGTON, Jan. 12.--President Will
son will continue work on his programme
for antitrust legislation soon after he re-
turns from Pass Christian. Miss. to-mor-
row He win arrive here on his private
car at z 80 and at IL o'clock he will lay
the rough draft OF his special message to
Congress on antitrust enactments before
the Cabinet at tho regular Tuesday
session.
In the Presidents absence a summary OF
all pending antitrust bills has been pre-
pared for him by Assistant Attorney-Gen-
eral Todd. II Is understood that conser-
vatism will be the outstanding Character
istic of tho Presidents antitrust mes
sage Il Is expected that the same Will
he true OF the recommend ations which the
Acknowledgement will make. at least as
far as changes in the Sherman antitrust
law are concerned The Attorney-Gen-
erals success with the three important
eases contemplated under the sherman act
which he was able to settle out OF court
mas convinced him that this law is OF
sufficient strength and breadth TO main
tain competition II 1t is properly enforced.
Lack Of Harmony.
President Wilson will doubtless be ap-
prised before his message Is forwarded
that there is sentiment among leaders IN
his party opposed to further antitrust
legislation at this time. Senator Overman
and Senator Smith of Georgia believe the
wiser course would be for Congress TO
postpone enactments affecting corporations
until the new tariff and banking laws have
been in operation year or more. -
known that Chairman Clayton or the
House judiciary Committee viii urge that
Congress proceed conservatively In deal
ing with the corporation laws.
That all the Democratic members or inc
Judiciary Committee are not IN complete
harmony with Chairman Clayton ana
Messrs. Carin and Floyd. who have pre-
pared "A series of bills for consideration by
Che President was Indicated In the pre-
ssntation OF measures on the subject ~
Representatives Webb OF North Carolina
and Mccoy OF New Jersey. MIR. Neop
ranks next To Chairman Clayton on the
committee and Mr.. Mccoy has served on
This committee throughout his career In
Congress
II will be seen therefore that the clay
ton bills which have not yet been ac-
cepted by the Administration have not
even been Endorsed by the fun Commit
tee on the Judiciary. The Webb bill pro-
noses to strengthen the Sherman anti
trust law. Mr.. McCoy's bill deals with
the question of interlocking directorates
The Webb bill would mako every con-
tract, combination in restraint OF trade,
whether slight or MATERIAL Illegal and
punishable By a heavy fine Representa-
tive Webb Is not In sympathy with the
antitrust programme advocated by his
party members in the committee.
MISUNDERSTANDING Biil.
The Mccoy bill provides that an officer
or director OF a Federal reserve bank
branch bank, national bank or banking
association, or Of any State bank. banking
association or trust company admitted "a
membership in Federal reserve bank
shall not be an officer or director OF any
other bank or OF any financial corpora
ton engaged in a banking business. The
director or official Is also prohibited from
having membership In a Arm or asso-
citation engaged in the business OF buy
ing. selling or holding the stock bonds
or securities of corporations, or whose
business II is to finance the sale Of such
stock or 10 negotiate loans TO corpora
tons.
Until President Wilson speaks out or
the subject the anti-tru programme will
not be framed In Congress Some Demo
Gratis oppose action; others advocate con.
sentative legislation, and there are radi.
Gals who want to run amuck regardless
OF CONSEQUENCES but all will follow the
leader as soon as ne gets ready to act
The radical position IL outlined In a
statement made public Tonight by Rep
resentative Smith OF Texas. Democrat
AS follows:
II know that the argument Il beine
made that antitrust legislation ought e
be postponed. or that IL we must have &
now II should DO OF the weak and harm
less kind so as not TO add to the dis.
turbance to which business has already
been subjected by the tariff and currency
~ w In o.,
there is no harmful disturbance Of bust
ness--only a natural hesitation necessary
for a proper adjustment OF business to IN.
new conditions OF freedom
Would Let Business Mark Time.
Legitimate business will move of NOR,
quickly and make greater strides tn.
earlier Its emancipation Is complete I
- waiting TO be freed from the DONNA
ton of monopoly. II Is better for al
legitimate business interests. 1t Is bette,
for the country. that business should con
tinue To mark time little while longer
II need be, than that the corporate mon
opoly interests should be granted "A con
tinuance, 1t Is better to apply the remcd,
now than 10 permit the disease to ru,
on"
The President will have many othe,
problems to take up with his Cablne
after he gets back into harness to-mor
row. Among them will be the selection
of Comptroller of the Currency and o
the members Of the Federal Resery,
Board.
Reports have come from Pass Chrlstia,
that the President has fixed upon a tenta
tive list for the board. So careful has Mr.
Wilson been. however, to veil in secrec,
the identity OF the men he approves tina
there have been few rumors ooncernin,
them.