Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1914-06-19
ANTITRUST PLAN
OF THE PRESIDENT
Summary Of Three Measures
Which Cover Program
SHERMAN Law AMENDMENT
Clayton Bill Makss Il Prison omsnss to
Refuse to Sell Certain Commodities to
. Responsible Psrson. Firm or Corpo-
ration-intsrstats Rail~ays curbsd.
Powers Of Proposed Trade Board.

ration-lnterState Railways Curbod.
Powers Of Proposed Trade Board.
President Wilson's entire program ot
antitrust legislation IL embodied In
these three bills. which may be briefly
summarized ns follows:
Clayton Antitrust Bills designed
to supplement the Sherman antitrust
Jaw Prohibits price determinations
under penalty Of ine and imprison-
ment. Makes II unlawful for the own
er. operator or transporter. oil or gas
well. reduction works. refinery or ny
droelectric plant to refuse arbitrarily
to sell such product to any RESPONSE
bic person. firm or corporation: such
refusal made II misdemennor. punish
able by fine and Imprisonment. Pro-
hibits "discounts' or "rebates" under
pain of fine and Imprisonment. Per-
sons claiming to he injured by reason
Of any act forbidden by the bill may
sue and recover threefold damages.
Combinations and mergers that les
sen competition" are forbidden. Rail
road 'poos'' are prohibited. except
such as are now held to be lawful upon
approval by the Interstate commerce
commission. Holding companies" are
prohibited and interlOcking directo-
rates are made unlawful under penalty
Involving both fine and Imprisonment
Guilt is made personal throughout the
bill. Labor unions and voluntary MS.
sOciatiOns of farmers are declared to
be legal entities. The power Of the
federal courts in issuing injunctions
and furnishing for contempt In labor
disputes is restricted. Exclusive and
tying" contracts are prohibited. A
private sutton seeking damages may
offer evidence obtained by the United
States in suit to dissolve n corpora
ton.
Railway Bill.
Railway Capitalization Bill-EmpOw-
ers the Interstate commerce commits
sion to supervise the issuance Of stocks
and bonds authorized by interstate
railways. Railways seeking such au-
thority must give reasons for issues
and the purposes for which proceeds
are to be used. All issues made con-
trary to the orders Of the commission
are punishable by fine and imprison
ment Of all persons. officers. directors
or other agents. responsible. In seek
ing authority to issue securities rail
ways are required to submit to the
commission terms. conditions and rates
Of interest Of stocks and bonds invOlv-
ed. Pipe lines and telephone cOmpa-
MES are brought within the purview Of
the proposed law. Distinctions are
made to prevent the encroachment Of
federal authority upon the rights Of
state railway bodies. Full publicity
Of the financial affairs Of railways Is
assured through reports to be made to
the interstate commerce commission.
Trade Commission Bill.
Interstate Trade Commission Bill
Creates commission Of three men,
bers. each to receive salary OF $4,000
a year. All corporations with capt.
tai of more than $500O.O0O are required
to file reports with the commission
1 lie 40 W
classify corporations with capital Of
less than $5.OOOOOO that may be re-
quired to report to 1t. All the powers
Of inquiry into the operations of cor.
porations exercised by the commission
er Of corporations are transferred to
the commission. The commissioner
ship is abolished. All Investigations
into the activities Of corporations. con.
Quoted by the commission. are to be
made upon its own motion instead Of
being under the direction of the presi-
dent as is the commissioner Of cor
porations. Publicity of reports Of cor
porations Is required. Section 10 Of the
bill requires the commission by direc-
ton Of the president, the attorney gen
eral or either house Of congress to in
vestigate alleged evasion Of the anti
trust law and to make recommends
lions Of changes in all laws affecting
business. The commission Is required
to see that the execution Of any decree
against any corporation to prevent or