The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1914-03-17
Only One Trust Legislation
Bill Instead of Several, as
First Proposed, to Be Re-
ported to Congress.
OPINIONS DIFFER
AS TO THE WORDING
House Trade Commission Bill
Finds Little Favor Among
Senators; Views of Rob-
inson of Arkansas Aired.

WASHINGTON, March 16.-Prcsi
dent Wilson, at conference tonight
with the house judiciary subcommittee
on trusts, put the stamp of administra
tion approval on the substance OF the
four bills to amend the antitrust laws
which the committee submitted in a
practically final form.
There will be another conference at
the White house within a week, and
members of the committee asserted to-
night that unless protracted discussion
should be raised in the full committee
when the measures are presented, all
four bills to strengthen the Sherman
law, covering interlocldng directorates
holding companies, trade relations and
definitions of restraints of trade,
would be reported to the house within
a fortnight.
President Wilson indicated his be-
lief that it would be better to consoli-
date all the bills into one in order to
expedite legislation. The senate inter
state commerce committee is under
stood TO favor consolidation That it
will be effected by the house Judiciary
committee seems practically certain.
Makes Suggestions.
The president made a number Of sug-
gestions to the subcommittee. which
comprised Representatives Clayton, Ala.
bama; Carin Virginia, and Floyd,
Arkansas. He insisted that personal
guilt Of individuals in control of corpo-
rations should be prescribed in every
bill in order to break up the evils that
have grown up under the present anti
trust laws. The committee will revise
the bills with this in view and talk
with the president again before sub.
mitting the measure to the full COM
mittee and to the house.
The draft OF the holding corporations
bill had been completed Just before the
conference, The measure would make
unlawful those holding companies that
combine the stock of corporations so as
to lessen competition. but would not af.
feet companies which hold the stock
of corporations that form essential
parts Of their business. Holding com.
panies that are entirely for investment
and not for business directly are not
prohibited This. would permit com
panies like the big insurance concerns
to hold the stock Of corporations which
are not competitors
Believe Problem Solved.
The committee believes that in thi.
bill it has solved the problem of dis
eliminating between the holding com
pany actively in business and operating
business by combining a number OF
competitors into one company, as IL
the cases Of the STANDARD Oil company
and the American Tobacco company anC
the corporations that have been com
PEELED to combine q number OF concerns
that are not competitors, but whose
combination is necessary in order II
make unit, or whole, as in the case
Of an oil company which combined &
pipe company, producing oil com
pany, a refining oil company, all max
ing one legitimate oil business.
The committeeman pointed out tC
the president that the bill would save
TO industrial business the investor whC
buys the stocks and bonds of varlou:
corporations but is not engaged in bust
ness of operating any of them. TIL,
bill applies to railroad holding corpora
tions. but not to subsidiaries, it draw
ing the line at substantial competitors
Includes Cotton Mills.
1t includes cotton mills if made uT
of combined competitors; it would pro
hibit holding corporations of movinf
picture concerns, which sought exemp
ton, and would strike at various larc,
holding establishments which mad
pleas before the committee. The so
called theater trust also would be af
feeted. Tbeatcr corporations whiel