New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-12
Broad Scale Originally Out
lined Not To Be
Undertaken.
TRADE COMMISSION
ALONE TO GO THROUGH
Will Have Full Powers to Investi-
gate Affairs of Corporations
and Recommend Legislation.

Washington. April 11.-Anti-trust
legislation supplementary to the Sher-
man act probably will not be under
taken at this session Of Congress on
the broad scale originally outlined pg
the administration. This became known
here tonight. Democratic Senate ana
House leaders agreeing that practical
solution of the veXatious problem u
cope with evils of big business through
legislation had been suggested.
The plan. il was asserted is to pass
one bill, which would create an inter-
state trade commission. with broad
powers to investigate affairs of corpora
tions and with specific authorization to
inauire into the relation to commerce
of interlocking directorates. holding
companies, stock watering, the issuance
of railroad securities, and price dis
examinations which tend to destroy
competition. The commission would
recommend to the next Congress what
further trust regulative legislation 1t
deemed advisable for the welfare of
the country.
Such a elimination Of an antitrust
legislative programme originally sug-
rested by President Wilson in q special
message to Congress has been working
out in conferences between the Presi-
dent and Senate and House leaders for
many weeks. The task tentatively out l.
lined in bills proposed assumed proper
tions that precluded its accomplish =
ment, leaders believed. in view Of other
legislative problems confronting Con-
gress. and also because OF the many
conflicting opinions Of men in the coun-
sells of the dominant party as to just
what should be done.
It was pointed q tonight that
President Wilson. in his trust message.
sought merely to suggest to Congress
evils Of big business which needed reg
ulation. Since then &c has had many
conferences with members Of the House
and Senate committees which have
from time to time submitted tentative
trust regulation bills.
Some time ago a committee OF
the Senate Interstate Commerce Com
mittee was appointed by direction of
Senator Newlands, the chairman. to IN
corporate into one measure all features
of the various bills contemplated.
Since that committee has been at work
many STUN mbling blocks have been en-
countered as to how far Congress
should go in enacting legislation sup
Elementary to the Sherman act; just
what would strengthen the provisions
of that act and just what might
weaken it.
After many conferences of Demo-
cratic and Republican Senators, who
in turn have conferred with members
Of the House Interstate and Judiciary
committees, tentative amendment TO
the Senate bill. to create an Interstate
Trade Commission has been drawn
designed to take the place of proposed
bills 10 prohibit or regulate interlock-
ing directorates, holding companies,
stock watering; to provide for govern
ment regulation of the issuance of rail
road securities and to solve the problem
of destructive price discrimination. 1t
would provide that all these problems
be referred to the proposed Interstate
Trade Commission, directing an ex-
haustive study Of the subject for the
information of Congress.