The Sentinel=record., 1914-01-18
PRESIDENT WILSON WILL READ TRUST MESSAGE TO JOINT
 SESSION TUESDAY.
WILL TALK TO CONGRESS-
Will Outline His Ideas on Antitrust Legislation and Leave it Up to Con gross to Work Out the Complete De. tails.

Washington, Jan. 17-President Wilson today announced that he would read his message on antitrust reform 10 a joint session of both houses oi congress Tuesday.
 The president already has shown the document to democratic members in congress, members of the two con- gressional committees in charge of the legislation, and to members of the cabinet All have expressed uhei4 ap- proyal
 The president has left to congress the task of framing the detailed reme- dies. Besides the provision for an in- terstate trade commission, the pr0hi- bition of interloeking directorates and reduction of the "debatable area" oi the sherman law, three hitherto un- announced features of the presidents plan are:
 One Prohibition of holding compa- nies Corporations would be forbid. den to own or hold shares or be inter ested in the business of actual com petitions.
 The acquisition of stock or inter ests in non-competitiye concerns would be possible only with the con sent of the interstate commerce com mission or the proposed interstate trade commission
 Two Empowering the interstate commerce commission to regulate and supervise the issuance Of railroad bends SO the public would exercise through the commission a certain con- trol over the future use to which the money obtained from the issue of stocks or bonds would be put
 Three. Wherever. at the instance of the government. either in civil or criminal proceedings, the courts have rendered judgment on the unlawful- ness of any combination, individuals or concerns aggrieyed through the combination would have the benefit of suCh adjudication and not be re ouired in their suits to prove again the illegality of the combination.
 The president das deal. with those general principles on which believes public sentiment is agreed that cor rection is necessary. He has empha- sized that the spirit of friendlness s1ould characterize the method of ap- preaching the work of reform. To this end the president himself, it was learned today, is behind the announc- ed program of public hearings on the proposed bils
 The president has made it plain that the business world should be given full opportunity to express it's views.
 The president is anxious, too that ample time be given in the legisla- ton for all business to adjust itseIi to new conditions, even to period or one to two years
 The president considers the pfah bition of holding companies as vital part of the program. He believes that beginning with the decision by the United States supreme court Tn the Northern Securities case holding com panies have come under the ban oi public disapproval While Governor of New Jersey he obtained legislatlen prohibiting holding companies in that state and permitting only such mei- gers of non-competitiye concerns as were sanctioned by the public utilities commission.
 An analogous function, it is sald now would be given to the new lhter state trade commission through lts powers of inquisition and inyestlga- tion of what constitutes competitive and non-competitive conditions, It IS recognized by administration auVV' cates of this feature that there are many cases in which a wide sweeping prohibition of holding companies might prevent the organization of use iul enterprises.
 The supervision of the issuance ol railroad securities is to be reeom- mended by the administration Ill pe- lief that railroad capitalization anu the issuance of stocks aLd secn.ltS is closely involved with increase oi decrease in rates and that through tbe interstate commerce commission Hsa public wou abe safeguardeu' Close scrutiny of bills aimed to cover this point Is intended that the gov