Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1914-01-30
Wilson's Trust Policy In Bud.

President Wilson's message to Congress-.
suggesting antitrust legislation supple
mental to the Sherman law which would
eradicate evils of big business and at the
same time restore confidence and CONNER
clai activity, bore its first fruit last Friday,
when bill to create an Interstate Trade
Commission was introduced in the House.
Three more of the proposed bills to SUD-
plement the Sherman antitrust act. sus-
eested by the President, were made public,
and will be introduced. These three en-
brace:
Prohibition Of interlocking directorates
OF industrial corporations, railroads. bank
ing or trust companies. to be effective two
years after approval.
Definition OF the terms Of the Sherman
antitrust act, to specifically include with
in the meaning Of conspiracy in restraint
OF trade" every contract. combination in
the form of a Trust or otherwise within the
meaning OF the word ''monopolize" certain
definite offenses, all of which would be
prohibited, and fixing guilt upon individuals.
A trade relations measure designed to
prohibit "cut-throat" competition through
price determinations. discounts, rebates,
territorial restrictions, etc., and giving to
individuals injured by reason of anything
forbidden in the Sherman act, the right to
bring suits in equity against corporations
against which DEGREES have been obtained
by the Government
Chairman Clayton announced that a
fourth projected measure, which would pro-
vide for Government regulation Of railroad
securities, had not been drafted, and would
be taken up by the House and Senate In
terstate Commerce Committees.
The President reiterated his desire that
the business men of the country should be
given full opportunity in public hearings
to express their views and criticisms on
the measures as framed.
In the section of the measure providing
for publicity Of the conditions surrounding
business corporations. despite the fact that
there has been much agitation against i'm
munity to individuals who might testify or
produce evidence in inquiries conducted
by the Commission. immunity is granted
to individuals, except for perjury.
There is, however, no immunity to cor
porations.
In detail the bill sets forth that the
commission shall require all corporations
engaged in commerce among the States or
with foreign nations, except common car
riers. whether required by the general rules
and regulations for regular information or
information specially asked. from time to
time. to furnish to the commission infor-
nation. statements and records of their
organizations, business, financial condi-
ton, conduct, management and relation to
other companies "at such time. to such
degree and extent. and in such FORM as
may be prescribed by the commission"
Striking at secret sessions of directOrates
and other bodies, the bill directs that the
Commission shall have complete access
to all records. accounts minutes. books
and papers Of the corporations including
the records Of any of their executive or
other committees"
Failure or neglect of corporations to COM
ply with this requirement. after written
demand and within such time as the Com
mission shall fix, is made punishable as a
misdemeanor with fine of $1,000 day
upon conviction.
The District Courts of the United States,
upon the Commissioner application alleging
failure Of Witnesses to respond to sub
poenas or to comply with any Commission
order for furnishing Of information, will
have jurisdiction to issue a writ Of man.
damus to enforce the Commissions order
and to punish the disobedience as in other
cases of contempt of Court
To aid the equity courts, the bill pro-
vides as follows:
In suits Of equity brought by or under
the direction Of the Attorney General. as
provided in the act of July 2, 1890, (the
Sherman law) the Court in which suit is
pending may at any stage of the litigation,
at its discretion. refer to the Commission
any aspect Of the litigation or proposed
decree, whereupon the Commission shall
investigate the question or questions re-
ferred to, with all the powers Of investiga-
ton hereinbefore bestowed on the Com
mission. and shall report its findings to
the Court, with a copy of the evidence
upon which said findings or recommended
tons are based. Said evidence. findings
and recommendations shall be public
records"
The new commission would be required
to annually make a report. on or before
January 1. which is to be transmitted to