Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-10-22
BUSINESS WILL BE
GREATLY HELPED BY
ANTITRUST LAW
Broker Says Measure Will
Inspire Greater Confidence
and Eliminate Underhand
Practices in Trade Cen
orally.

The commission form of government re-
| ceived still further recognition when the
Federal antitrust law received the sig
nature Of President Wilson last week.
/ Although primarily it's fcnction is to
limit monopoly in business, yet its strik,
ing feature is to give jurisdiction under
1t TO the Federal Reserve Board where
banks were concerned.
The new Federal Trade Commission, in
regard 10 corporations. and the Inter
state Commerce Commission, which is
apparently now quite overwhelmed. re-
ceives additional responsibilities concern.
ing the railroads,
IL has taken about six months to con-
summate this legislation, and even when
| il received the signature Of the President
and became a law on October Il its lead
ing features were not at all familiar to
the average business man.
Its chief aim is the prevention OF mo-
nopoly in business. and especially 10 re-
strain discrimination in prices between
different purchasers OF commodities II
makes IL possible for any one Injured by
this practice to sue and recover three
fold the damage sustained. including the
cost of tie suit and attorneys fees II
also makes it possible for a purchaser
to deal in the goods Of a competitor OF
the house in which he makes such
purchases
PENALTY EXEMPTIONS.
The section which has attracted most
attention IS that which exempts labor
agricultural and horticultural associa.
t!ons, organized for mutual help, where
there is no capital stock. from it's penal
ties.
1t prevents one company from purcbas.
ing stock In a competitor, but does not
prevent such purchases when the stock
is not voted. 1t does not, however. limit
the development OF any corporation o..
means of branches and does not limit the
Size or scope Of any business or railroad
when competition is not eliminated.
The feature of American banking opera
ton, which has been under discussion
the last ten Years, is dealt with lu n de-
cislye manner \ director Is forbidden tI
he the member OF the board Of more than
one hnanclal institution at the same time.
The railroads ~ the country also come
lH FOR their share - attention and tn
act stll further strengthens the influence
Of the Interstate Commerce Commission
and limits supplies that may be pur-
chased of company owned BY or in
which an employe is interested eNcepr
n hen such purchases are made hy open
bidding, II makes a violation Of this
feature punishable by fine and impris-
onpent.
ROCK ISLAND AFFAIRS.
Although this act has met with great
deal Of opposition, Vet there are proyI-
sIous In IL which make for "a STRONGER
po sitiCn In business, and its pruhibItory
clauses refer 10 situations witch can
easily be adjusted. No doubt Congress
had the Rock Island matter I'm mind
V hen II forbade the acquiring of stock bv
one corporation in another except for
investment. This would have made it
impossible for the Rock Island interests
10 have purchased the stoNZ Of other
lines and turn il over to their own com
Pany at huge profits.
The financial world had long ago be-
gun 10 eliminate the InterloCkiug direc-
torate feature. and some OF our leading
bankers have already materially reduced
The list of institutions which they serve.
The formation of the new Federal re-
serve banking system completes this ef-
.ort TO decentragize the capital oI the
'ountry.
II seems that this act carries nothing
mat will AFFECT the business man who h
conducting his affairs on "a proper basis
and no doubt Il Will tend tu clarity a
number of matters pertaining to which /.
here has been great deal ~ 4..s..fru .
n the long run the gaicg -s.7arg gfrr b
'e the corporations themselves. .s n ain .
Undoubtedly create confidence in their .
eeufllles and remove apprehension from
ne minds Of great many investors sbo
ave lhs Rock Island operat ans sull very
-" ~ '"e'E ihemoFles ERUkER.