The Bridgeport evening farmer., 1914-10-27

as shown by. the last preceding decen- niaI census of the United States, shall have as a director or other officer or employee any private banker or any director or other officer or employee of any other bank, banking association, or trust company located in the same place: Provided. That nothing in this section shall! apply to mutual savings banks not, having capital stock rep resented by shares: Provided further, That a director or other officer or em- ployee of such bank, banking associa- tfon, or trust company may be a di- rector or other officer or employee of not more than one other bank or trust company organized under the laws of the United States or any stateNW Where the entire capital stock of one is own ed by stockholders in the other: And provided further, That nothing con tained in this section shall forbid a director of class A of federal re serve bank as defined in the federal reserve act, from being an officer or director or both an officer and director in one member bank
 That from and after two years from the date of the approval of this act no person at the same time shall be di- rector in any two or more corpora
 
 surplus, and undivided profits aggre- gating more than $1,o00.ooo, engaged in whole or in part in commerce, oth- CT than banks, banking associations, trust companies, and common carriers subject to the act to regulate com nnerce approved Feb. {, 1887, if such corporations are or shall have been theretofore by virtue of their business and location of operation, competitors, 60 that the elimination of competition by agreement between them would constitute a violation of any of the provisions of any of the antitrust laws The eligibility of director un- der the foregoing provisions shall be determined by the aggregate amount of the capital, surplus, and undivided profits, exclusive Of dividends declared but not paid to stockholders, at the end of the fiscal year of said corpora ton next preceding the election of di- recbors and when c director has been elected in accordance with the proYi- sions of this act 1t shall be lawful for him to continue as such for one year thereafter
 When any person elected Or chosen as a director or officer or selected as an employee of any bank or other cor poration subject to the provisions of this act is eligible at the time of his election, or selection to act for such bank or other corporation in such ca pactty, his eligibility to act in such capacity shall not be affected and he shall not become or be deemed amend ble to any of the provisions hereof by reason of any change in the affairs of such bank or other corporation from whatsoever cause, whether spe- F .1f visions hereof or not, until the ex- piration of one year from the date of his election or employment.
 Fine and lrpprisonners.
 Sec Q. Every president, director. of hcer or manager Of any firm, associa- tion or corporation engaged in conn merce as a common carrier, who em- bez1les, steals, abstracts or wtllfully nnisapplies, or willfully permits to be misappIied, any of the moneys, funds, credits. securities, property or assets of such firm, association or corpora tion arising or accruing from, or used in, such commerce, in whole or in part or willfully or knowingly converts the same to his oWns use or to the use of another, shall be deemed guilty of felony; and upon conviction shall be lined not less than $500 or confined in the penitentiary net less than one year nor more than ten years. or both, ] in the discretion Of the court
 Prosecutions hereunder may be in the district court of the United States for the district wherein the onfense may have been committed
 That nbthi1 g,in this section shall be held b take away or impair the juris- diction of the courts of the several states under the laws thereof; and a Judgment of conviction or acquittal on the merits under the laws of any state shall be, q bar to any prosecu- acts.
 Sec 10. That authority to enforce compliance with sections 2, 8, 2 and g of this act by the persons respective " subject tharto is hereby vested: in the interstate commerce commission where applicable to common carriers, in the federal reserve board where ap- plicable to banks. banking associa- tIons and trust companies, and in the federal trade commission where ap- plfcable to all other character of com merce, to be exercised as follows:
 Whenever the commission or board vested with Jurisdiction thereof shall have reason to believe that any person is violating or has violated any of the provisions of sections 2, 8, 7 and of this act, it shall issue and serve upon such person complaint stating it's charges in that respect, and contain ing notice of a hearing upon day and at 2 place therein fixed at least thirty days after the service of said complaint The perspp 50 complained of shall have the right to appear at the place and time so fixed and show cause why an order should not been tered by the commission or board re- quiring such person to cease and de sist from the violation of the law so charged in said complaint. Any per