The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-03-17
Depends on That to
Break Up Antitrust
Evils.
FOUR MEASURES
GET HIS APPROVAL
They Will Be Consolidated Into
One, and May Reach House
Within Fortnight-Shcrman
Law Strengthened in It's
Dealing With Trade
Relations.

washington, March 1G.-IrcSident
Wilson, Mt n conference tonight with
the House Judiciary subcommittee on
Trusts put the stamp Of adrninistra-
tion approval on the substance OF the
four bills to amend the antitrust laws
which the committee submitted in vir-
tually final form. There will be another
conference at the White House within
week, and members OF the committee
asserted tonight that unless protract-
Ell discussion should bo raised in the
fuli committee when the measures are
presented, all four bills to strengthen
the sherman law. covering interlock-
ing dircctoratcs. holding companies
trade relations and definitions OF re-
straints of trade, would be reported TO
the House within q fortnight.
President Wilson indicated his belief
that II would be better TO consolidate
all the bills into one. in order to ex-
Dcdite legislation. The Senate inter
state Commerce Committee is under
stood to favor consolidation. and that
IT Will bc Effected by the House Judi
oiary Committee practically is certain
Makes Several Suggestions.
The President made 4 number of sug-
Ecstions to the subcommittee which
comprised Representatives. Clayton
Alabama; Cariin, Virginia, and Floyd.
Arkansas. lie insisted that personal
guilt of individuals in control OF cor
porations should be prescribed in every
bill in order to break up the evils that
havo grown up under the present anti
trust laws The committee Will revise
the bills with this In view. and talk
with tho President again before sub
hitting the measures TO the full COM
mittcc and to the House. Tho draft of
the holding corporation bill had been
prepared just before the conference.
g. al ,nlg
those holding companies that combine
the stock of corporations so a 9 to lessen
competition, but would not affect COM
panics which held the stock of corpo-
rations that form essential parts of
their business. Holding companies
not for business directly, are not pro-
hibitcd This would permit compa nies
Ike the big insurance concerns to hold
the stocks Of corporations which are
not competitors.
The committee believes that In this
bill IL has solved the problem of dis
eliminating between the holding com
pany. operating by combining a num-
Der OF competitors into one company
and tho corporations that have been
compelled to combine q number OF con-
Germs that are not competitors. but
whose combination is necessary in
order TO make a unit. or whole. as in
the case of an oil company combined
with pipe line company, n produc-
!ng oil company and a refining oil COM
Dany, all making one legitimate oil
business.
Saves Small Investor
The committee pointed out to the
President that the bill would save to
industrial business the investor who
buys the stocks OF various corpora
tions, but is not engaged in tho busl-
ness of operating any Of them. The
bill applies 10 railroad holding cor
porations, but not to subsidiaries IL
drawing tho line at substantial com
pctitors. II includes cotton mills. if
made up Of combined competitors; il
would prohibit holding corporations
of moving picture concerns. which
sought exemption. and would strike nj
various large holding establishments
which made pleas before the commit
tee
The so-callcd theatre trust" also
would lie affected. Theatre corpora
tions which hold two theatres I'm any
one city, unless il could be proven thar
they We're absolutely noncompeting.
would he prohibited, but the bill would
not destroy Il chain OF theatres In diff
fcrent cities In which there was no
element of competition.
None of the four bills as now framed
provides for exemption Of labor unions
eanizations. particularly the American
Federation of Labor, have urged the
passage of the Bacon Bartlett bill.
which would exempt from any prose
cution under tho Sherman law associ-
ations organized wholly for the pro-
motion of labor
The trade relations bill prohibits
manufacturers from contracting to
prevent merchant from handling a
competitors goods. 1t prohibits final
price fixing to the consumer, though il
permits the manufacturer or whole
salcr to fix the price At which goods
shall bo sold in the first instance as
from manufacturer to jobbcr Under
this restriction, the first sale of n man
ufactured article by its producer would
be at the same price everywhere, plus
the cost OF transportation. This bill
gives the right of injunction to indi-
viduals for threatened loss or damage
Continued On Second PaGc)