The Sentinel=record., 1914-02-20
PRESIDENT CONFERS WITH AT TORNEY GENERAL ON SUB.
 JECT OF LEGISLATION.
WANTS FIRE PROOF LAW
Urges Congress to Frame the Statute in Conformity with Decisions AL ready Rendered by Supreme Court on the Sherman Law.

Washington, Feb 19-Presiden. Wilson desires that bills dealing with the trust problem be so phrased and adapted to the decisions already reE- dered by the supreme court on the sherman antitrust raw that the eff ciency of that statute neither shali be impaired nor complicated, but prop erly supplemented
 Callers at the white house were told by the president that this was the principal object of his conference last night with the attorney general He explained that the attorney ger eral, whose counsel and advice wal being sought by congressionai com mittees, had given him a detailed idea of the extent to which some of the things now proposed might conflict with the sherman law.
 The president regards the bill ere ating an interstate trade commission as the central figure on the trust pro- gram. He said a recent study of the statute creating the bureau of corpo- rations had convinced him that this bureau had much greater powers than generally was realized. He believed, however, that the trade commission should include the bureau of corpors tions and that additional duties be given to the commission. The house Judiciary subcommittee today virtually completed the bill, the fourth of the measures from the judi ciary committee for the administra- tipn trust legislation program. Fin ishing touches will be given the bill tomorrow and it will be introduced by the first of next week.
 The subcommittee is considering and may agree to redraft all four of its meaures, thise dealing with hold ing companies, interlocking directo- rates trade reactions and definitions of restraints of trade, into one bill. to be jntroduced at the conclusion of hearings scheduled for the last of the week
 The holding company bill, as fram- ed tonight. would prohibit the rx- stence of holding companies. It ex- cepts from the inhibition such CO., cerns as the great life insurance coih panies.
 Chairman Clark and Commissioner Clements of the interstate commerce commission discussed the propossd measure to regulate stock and bond issues today.
 Chairman Clark was doubtful of the expediency of the proposal to ex. empt issuance of short term notes from federal supervision, saying if they were excepted there might bs expected to follow applications for permissionn to issue refunding paper He thougH it might lead interference with legitimate regulation. He urgea legislation amending the Hepburn act of 1906 so that the commission could investigate the books and. other rec ords of the Louisville and Nashville and other roads back of that date. He said the issue as to whether the re- Oluo pllOf tC lJuD WCIt Hcdfcu DJuk was being fought out with the Louis vile X Nashville now in maldamHs proceeding to enforce the commis- sion's asserted right.
 Mir. Clark expressed the belief that with the proposed control of capital izatlon people would have more con fidence in stocks and bonds, fleeing that the railrads were organized as business enterprises for transporta- tion and not for manipulation by Wall street. He said the new generation in handling railroad properties more and more was appreciatiye of the new order of business ethics. Railroa1 people today, he added, would scorn to do the things that once were con- sidered legitimate.
 Hearings before both committees of the house probably will close the last of next week.