Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1914-01-10
| Ian Of WILSON
To PUT TRUST
NEN|N JAIL
InterIocking Directorates To Be
Prohibited Absolutely Under
Administration Bills.

WASHINGTON, Jan. 9.-The the
or, that guilt is personal and that
trust magnates shall be subjected to
IMPRISONMENT as we'll as fine has been
written into the Sherman law by the
subcommittee of the House Judiciary
committee. which has just completed
q draft of the Administration anti
trust bill. The fundamental provi-
sions Of the bill were learned to-day
by the Hearst International News
Service
The bill consists of a number OF
separate measures. These will be in
reduced in the House next week aft
or they have been submitted to Pres
ident Wilson for his approval. The
most important of the measures pro-
y'des a penal punishment for corpo-
ration officers found guilty of a viola
ton of the antitrust laws.
Manufacturers will be forbidden ito
fix the ultimate price to the con-
sumner of the article manufactured.
There are drastic provisions prohio-
ting price fixing in restraint of trade,
the necessity for this legislation being
shown by the Supreme Court of the
United States decision in the Dick
Monograph case and the United Shoe
Machinery case.
The bill requires that no restraint
Of trade shall be deemed reasonable.
There also will be definition of what
constitutes a restraint of trade and
the rule of reason" written into the
Sherman law by the Supreme Court
of The United States will be set aside
"InterIockino" Prohibited.
lnterlocking directorates between
banks and industrial corporations VIII
he absolutely prohibited. The law
will be especially drastic concerning
the directorate of banks and railroads,
and no banker will be permitted i
be a railroad director and no railroad
director will be allowed to be a di
rector of bank.
The interocking directories pro-
visions will go further and provide
that a director of an industrial Goa
Germ can not be a director in a COM
peting industrial concern, nor shall
any banker or railroad director act
as a director in an industrial concern
in a manner that will restrain COM
petition.
Railroads will be divorced from
control or ownership of manufacture
ing or other esta blishments whose
output is a commodity transported Is
the common carriers. In other words
no railroad may own or control coal
mine, steel manufacturing plant or
other industries which put out com
modities handled or used by the rail-
roads.
Leave Sherman Law Intact
These provisions leave intact the
Sherman law as it now stands, and
are supplementary thereto. That law
will be amended to define competi-
ton, to provide punishment for Of
Tending trust owners and to break up
monopolies.
The House subcommittee is OPP
posed to the idea of the creation of
an Industrial trade commission to fix
the prices of manufactured articles,
hut believes the situation may be met
by legislation breaking up the patent
monopoly and prohibiting the origi-
nal seller from fixing the price to the
Ultimate consumer.
A member Of the House judiciary
Committee said o-day that the anti
trust bills represented the general
views of the Administration and
would be considered as Administra :
ton measures when introduced