The Barre daily times. (Barre, Vt.) 1897-1959, 1914-09-25
CLAYTON BILL
IS READY
Measure Designed to Punish
Trust Law Of
tenders s.
TYING CLAUSES
ARE BARRED
Labor Is Exempted - Con-
ference Report to Be
Called Up Soon

Washington Sept. 25.-Conferees
agreed Wednesday on a final report on
the Clayton anti-trust bill, second OF
the administration trust legislative
measures, Which is at last ready for final
consideration of Congress after many
months of deliberation in both houses.
Primarily the bill would, as urgently
suggested by President Wilson, punish
individual officers of corporations violat-
fling the trust laws of the country. Ihis
section would provide that any director,
Office or agent of a corporation yloiat-
ing the antitrust laws or who might
add or counsel such violation should be
deemed guilty of misdemeanor punish
able by fine not exceeding $4,000 or
by Imprisonment not exceeding one year,
or by both.
Important changes made in the meas
ure as it left the Senate relate to inter-
locking directorates and exclusive con-
tracts. The conferees restored the House
section prohibiting interlocking director
ates OF bank directors, with an amend
ment to provide:
That from and after two years fol-
lowing the passage of the act no per-
son shall at the same time be direct
or or other officer, or employee of more
than one bank, banking association, or
trust company which has deposits, cap
itaI. surplus and undivided profits aggre
eating more than S5,0o0,000, the pro-
vision to be applicable only to banks in
cities having a population OF more than
100000. The House bill fixed the cap
ital limitation at S2,500,000 and con-
tanned no population limitation.
Interlocking also would be prohibited
of directors in competitive corporation
having capital of more than $1,000
900 if elimination of the competition
would constitute violation of the trust
laws. Railroad directors would be pro-
hibited from serving as directors OF cor
porations dealing with securities or sur
plus in excess OF 100000 a year. except
through competitive bidding under regu-
lation of the interstate commerce COM
mission.
The provision to prohibit exclusive or
"tying" contracts follows the spirit of
the Walsh amendment to maintain in
dependence of retail dealers. 1t would
make it unlawful to lease or make a
sale or contract for sale of goods, pa
tented or unpatented, on the condition,
agreement or understanding that the
lessee or purchaser shall not use or deal
in the goods of competitor of the les
sor or sellor, where the effect of such
transaction may substantially lessen
competition or tend to create monopoly.
Specific penalty in this section OF the
Senate bill was eliminated.
Price discrimination between purchas
ers would be prohibited by the bill and
holding companies would be prohibited
when requirement of corporation by an
other would create monopoly or sub
stantially lessen" competition.
In rewriting this section the conferees
omitted the penalties.
Labor, agricultural and fraternsl or
CARNATIONS are exempted from the pro-
visions of the bill and labor is declared
not to be a commodity.
A provision growing out Of the New
Haven railroad difficulties would make it
felony for any officer or director of
corporation wilfully to misapply its
funds or wilfully to permit them to be
misapplied This is made punishable by
a fine of not less than $4,000, or by i'm
prisonment for not less than one year
or more than ten years or BOTH