New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-21
Clayton Measure Com
pIete-RailrOad SeCuri-
ties Will Be day.
REPUBLICANS LOSE
INTEREST IN THEM
Any Changes Made on Passage
Likely To Be Initiated by
Democrats.

Washington. July 20. The second of
the administration antitrust bills for
Mula,ing legislation supplementary to
ard defnitive Of the Sherman law and
similar acts. the Clayton bill. passed
by tho House Of Representatives. was
inally agreed upon by the Senate JUDI
ciary Committee to-day and probably
will be rlporteG to the Senate or
" Wednesday.
Al cFolt also was made to-day by
the Interstate Commerce Committee 20
complete the railroad securities bill.
the third Of the Trio constituting me
administration antitrust programme,
but J. was found necessary 20 postpone
final action until tomorrow.
Not a Republican Senator attended the
meeting Of either committee. Although
IL has been the purpose Of the majority
30 put forward the antitrust bills as
non-paltisan measures. the work o. re-
vision has been carried on by them
alone. The Republicans have ceased to
participate i'm the deliberations of the
committee. with the exception Of dcs-
ultOry attendance at n sessions Of
the Interstate Commerce Committee. As
the CLAYTON bill and the railroad securi-
ties bill viii be practically aGministra-
ton measures. subject TO such amend
ment as may he agreed upon by the
majority party in the Senate.
appeal TO Courts Allowed
With the exception OF two important
additions the Clayton bill, as it was
approved. remains substantially as il
was summarized IN these dispatches Of
July Il. One Of these additional pro-
visions makes tho theft, embezzlement
or wilful misapplication Of MONEY,
credits. securities or assets of com
mon carrier by any officer. director. or
manager thereof. felony punishable
by fine Of not less than $500. or con-
hnement in the penitontiary from ono
to ten years.
The second modification tempers thu
authority proposed to be invested in
the Interstate Commerce Commission
or the Trade Commission By providin.
that appeal may be taken from the
final order of either commission 20
the district courts and finally 20 the
nitcd States Supreme Court. which
shall have the last word in any pro-
y
courts were requested merely 20 en-
force the orders Of the COMM ssions.
The Interstate Commerce Committee
has reached decision TO make the Sc
curities bin applicable only TO rail
roads and such electric roads as may
be operatcd Or controlled by them. An
amendment was adopted to-day which
would extend the authority Of the H.
. Eat 4 90 ecin 10
Join the issuance Of stocks and bond,
without it, approval The provision Of
the bill relating to interlocking IL
rcctoratcs has been stricken out be
ccuse the subject ha, been covered ~
the revised Clayton bill.
CLAYTON Bill Much Changed.
The Clayton bin. as it will cmerGr
from the Senate committee. Is a diff
fcrcnt measure from that passed by
the House The labor exemption pre-
visions Of the House measure have
been made less sweeping. The resfr g.
tionS upon intcrioching directorate
have been made less rigorous and the
provision for the review by the courts
of the orders Of thc Interstate Com
mercc Commission. o. the propOs d
Trade Commission. enforcing compii-
ancc with certain provisions OF The
bill. make tho jurisdiction Of thos p
Two bodies far less arbitrary than was
A. first proposed.
The last amendment. adopted to-day,
rCuld provide that the court Shaii
take charge o. the proceeding and hold
g final hearing IN case OF controversy
over the order 0. either commission.
"Any party % any proceeding
brought urdcl the provisions OF this
section" .ho bill Low reads. "before
either The interstate Commerce Com
missiol o. the Federal Trade Com
mission. including tho person upon
" hose complaint the proceeding shall
have been begun. as well a the United
states ~ and through the Attorney
General thereof. may appeal from any
Gnal order made b. either o. such
commissions 20 any court having iur-
isdiction 20 enforce any order which
might have been made upon appllca-
tion of such commission as herein
before provided a. any time within
ninety days Of the entry Of the order
appealed from by serving notice upon
the adverse party ana fling the same
with said commission; and theTcupon
the same proceedings shall be had as
prescribed herein in the case Of an
application by the said commission
For nc enforcement; o. its order, as
hcrcinbc'orc provided.
"Anv fnsl order or decree made by
any district court i'm any proceeding
brought under thus section may be
reviewed b. the Supreme Court unon
appeal AS in eases IN equity taken
within ninety day from ;he entry Of
-uch order or decree"
What tho iatc o. the pending
antitrust bills will he j. still mat
ter Of some doubt. They arc no, put
forward ny tho majority - ,hc last
word in the way Of antitrust legisla-
ton. and there msy be material
amendments 10 the measure when
they arc taken up by the Senate. Il
appears. however. that if any changes
arc to be made thev will ne made
upon the initiative Of the Democrats
Themselves. as tho Republicans have
taken little interest in III" bills other
than 10 criticisc hem.
PORTE STUDIES CHARTS