The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-12-28
TRADE COMMISSION
NAMED TOMORROW
Wilson Chooses Five Men TO
control $500 Concerns Of ST.
600. O00 or More Capital.
GET OF ASI-JUDlCIAL POWER

WAsui~GToS poe 27.-Thn business
men OF the country within a fcw weeks
will have to dca' with a new agency in
Washington which probably is destined
to play as important part in regulating
the industrial corporations OF the country
as the Interstate Commerce Commission
has IN regulating the railroads. President
wilson Will send 80 The senate soon after
the retonveniug Of Congress on Tuesday
the nominations sor the new Federal Trade
Commission ahd the law creating it will
become effective Immediately upon the
confirmation Of tive appointces.
There will bc five members Of this Inn
portant new Federal commission IL is
certain that Joseph +. Davies will be
member Others mentioned prominently
for places are Allen W Thurman. So
licltor Of tho Department Of Commerce;
George Rubitp OF New York, who was
active in advising democratic leaders
when the recent trust programme was
pending In Congress. ana John III. Fahey
OF Boston, president Of the Chamber or
Commerce Of the United states.
In preparation for the creation and
organization Of this commission the pres
ent bureau of corporations. which Will
be merged into the new body, has been
busy collecting data which will give i'm
mCuln'tl.
10 processes Of manufacture and the domi-
nant financial control in any line of in
dustry.
Preliminary work shows that there
are approximately $500 corporations ex-
elusive o. those under the jurisdiction of
the Interstate Commerce Commission
which have "A capital or bonded indebted
ness Of more than $1.0O0.oOo. All Of these
in addition to many smaller corporations
will come within the jurisdiction of the
new trade commission
Business Men should Investigate.
In view Of the near approach OF the
time when this new experiment In Gov
eminent regulation will he put into effect
II beGouves business men and the general
public to get some idea of what will be
expected of them under its operation.
Commissioner of Corporations Davies has
foresecn this need and has prepared in
his annual report statement OF the
duties ard powers of the new commission.
In the first place the commission is
authorized to require corporations to
make annual or special reports or both
IN such form as may be prescrbeS and
10 make written answers to specific ques-
tons regarding the organization and man
agemont of their business or their rela-
tions to other corporations. partnerships
or individuals. The commission has gem
eral power Of investigation in respect to
such corporations.
Furthermore upon the direction OF the
President or either house Of Congress the
commission IS to investigate and report
concerning any alleged violations of the
antitrust act. 1t may also invest gate
trade conditions IL foreign countries w::h
respect to combinations or to other con-
dtlons affecting the foreign trade of the
United States.
Commissioner Davies says in his report;
briefly stated. the procedure in the en-
forcement OF these substantive provisions
Of law declared in both the Federal Trade
Commission act and II Clayton act is
The following: