Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1914-12-28
THE COMMISSIONER
OF CORPORATIONS
Makes Last Annual Report, the
Bureau Being About to Be
Absorbed by Federal Trade
Commission-After II Years
of Valuable Work

bureau Oh Corporations. AT the close
Of II years work, it soon is to be alp
sorbed by the new Federal Trade Com
mission which will carry forward its
activities and develop new fields &C
cording to the act of Congress which
created it.
Commissioner Davis reports that
before the Bureau is absorbed by the
new federal commission, it plans to
complete additional and final reports
OIL tobacco, farm machinery associa--
lions, taxation of corporations, Oil,
trust laws and conflicts of corporations
laws and leave its force as free as
possible for the work of the trade COM
mission.
During the last few months the re-
port says, the bureau has been max
ing general comprehensive survey
of the whole industrial field with the
view of having Immediately available
for the Trade Commission, the general
facts of the processes of manufacture
organization and dominant financial
control of any line of industry.
The report this year contains a very
comprehensive review of the law under
which the Trade Commission will
have, not only those functions of in
vestigation and publicity which the
Bureau of Corporations exercises, but
also other functions of publicity in
vestigation and recommendation and
powers which are quasi judicial, which
distinguish it. in marked manner
from the bureau of corporations. 1t
will nave much broader discretion and
will act, when requested to do SO by
the courts, as master in chancery in
the preparation of trust DEGREES.
In view of the impending merger
of the Bureau sof Corporations with
the Trade Commission, Eommiss-
Toner Davies makes no recommends
tions as to policies or plans for the
future, and in addition to a lengthy
review of the functions of the Trade
Commission, his report is confined to
a review of the years work in his
bureau which has been previously dis
closed from time to time in partial re-
ports upon Investigations at various
stages.
That Immediately upon the organ
ization of the new Federal Trade
Commission created by the last session
of Congress there will be available for
it's use not only large amount of
valuable data, but cohesive and
efficient body of employees trained in
the specialized kind, of work which
the Commission will of necessity carry
on, is made evident by the annual re-
port of the Commissioner of Corporat-
ions, Hon. Joseph E.. Davies. made
public today. This report reveals the
Bureau of Corporations to be very
busily engaged in the preparation of
data for the new Commission into
which 1t is to be merged, and to be
rapidly completing investigations on
which it has been engaged, with the
purpose of making the Bureau force
available at once for the work of the
Commission.
During the past few months, gem
eral comprehensive survey has been
made by the Bureau of the whole IN
dustrial field. with view to having
Immediately available to the Commiss-
ion, if needed, the general facts of the
processes of manufacture, organiza-
ton, and dominant financial control
in any line of industry. A large caro-
index system, showing the directors
of the principal industrial, railroad
and public utility corporations, IN
surance companies, and banks, mas
also been completed in line with this
purpose. This preliminary work
has revealed that there are approxim-
ately $500 corporations, exclusive OF
those under the jurisdiction of the In
terstate Commerce Commission. which
have a capital stock or bonded ana
other indebtedness amounting to III,
600, 900 or over and which are engaged
in Interstate commerce. in addition to
MANY smaller corporations which Will
likewise come within the jurisdiction
Of this Commission. over one-third or
these corporations have voluntarily
furnished to the Bureau upon request
reports as to their financial condition,
organization, and other valuable facts,
IN he at the disposal of the Commission
upon it's organization.
During the past year the Bureau has
bsen engaged in a number Of extern
sive investigations, most of when
were made at the direction of Con-
gress. Reports on the taxation OF cor
norations, covering the tax movement
of the United States in 1912, and the
system of corporate taxation in force
In the Mountain and Pacific States,
were 1fSucu uuTiIS thC SSeSA. "A
covering the conditions of production,
wholesale distribution and prices In
the lumber industry, as well as the
results of a special investigation into
the single and lumber industry OF
the state Of Washington, was MADE
public. ..,-,
At present the full force of special
agents. attorneys, statistfcians ana
ether employees are exefting every
effort to complete the remaining work
of the Bureau before the organization
of the Trade Commission. Final re-
ports on the tobacco industry, on farm
machinery associations, on State cor
porate taxation, and on competitive
conditions in the retail lumber trade
are to be issued in the Immediate
future. Special reports on the fertil-
tier industry and an the investigation
made under the resolution Of the
United States Senate as to certain al
legged Determinations in the Oklahoma
oil fields are being rapidly brought
into shape for publication. The inves-