The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1914-09-09
PROGRAM is FINISHED
SENATE HAS PASSED ANTITRUST
BILL, 46 TO 10.
Seven Republicans Vote for the Meas
ure Which Completes Democracy's
Antitrust Program.

In Washington as amended in
many particulars, the Clayton Anti
rust bill which supplements the Sher-
man law and completes the Admins
tration's trust legislation program for
this session of Congress, passed the
Senate Wednesday 46 to 16, and will
be sent to conference, where the Fed
eral Trade Commission bill-frst of
the antitrust measures is un-
der consideration. The reports of
both measures are hoped for within
two weeks
Seven Republican Senator'S voted
for the bill-Brady, Clapp, Cummins,
Kenyon, Norris Perkins and Jones.
They were Joined by one Progressive,
Poindexter.
The bill provides fines and i'm
prisonment for officers of corpora
tions convicted offenses against the
trust laws, prohibits exclusive and ty-
ing contracts which restrict independ-
ent purchasers, prohibits holding
companies where their effect is to
lessen competition or create monop-
oily and makes illegal. two years after
the passage of the act, interlocking
directorates in competing corpora
tions, any one of which has capital
Of more than s1,000,000 1t also
forbids interlocking or railroad direc-
tors with corporations dealing in Sc
curities, railroad supplies or con-
tracts and liberalizes procedure in in
junction and contempt cases.
Labor, agricultural and horticul-
|tural organizations, not conducted for
profit are exempted in the provision
relating to monopoly. The maxi
mum penalty for a violation of the
provision preventing exclusive con-
tracts is $4,000 or one year imprison-
ment or both. The Imprisonment
holding companies would not prevent
common carriers from acquiring
branch lines where there is no sub
stantial competition.
Sections relating to interiocking
directorates are made effective two
years after the passage of the act.
Directors Of railroads, under the
terms of the bill cannot be interlock-
ed with corporations dealing in Sc
curities, railroad supplies or other
articles of commerce or contracts for
construction, maintenance, etc. to an
amount Of more than s50,000 in any
one year. unless purchases are made
after competitive bidding under regu-
lations of the Interstate Commerce
Commission. A penalty of two years
Imprisonment and $4,000 is pres
cribed for violation.
Another provision makes it fel-
ony for officials Of common carrier
corporations wilfully to misapply Or
permit misapplication of funds of the
corporation, the penalty being not
less than $4,000 fine or imprison-
ment for not less than one or more
than 1G years or both.
The section dealing with court pro-
cedure provides that nc injunction
shall be issued between employers
and employees in labor disputes unless
necessary to prevent injury to porper-
ty or property rights, and no such
order shall prohibit the right Of en-
ployes to strike or peacefully per-
suade others to do so. Disobedience
of writs subjects offenders to con-
tempt proceedings, the accused in in
direct cases being granted trial by
jury.
President Wilson will delay his Sc
lection of the members OF the new
trade commission until after the
measure has been harmonized with
the Clayton bill by the conference re-
ports. He has not considered any
names as yet.