Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1914-01-15
Regulation Of Corporations to
Be Brought About in Friend
Iy Spirit by Necessary Leg
iSIation, 1t Is Said,
PLAN PROPOSED FOR
RESTORING COMPETITION
Interlocking DirectOrateS Are.
to Be Prohibited and Inter-
state Trade Commission Isl
10 Be Established,

lar aeRniNs jooRrAl SPECIAL lxssuo wRai
Washington Jan. ll Presdeat /
Wilson took into hi9 confidence toia, /
ca the subject of anu-trust reform /
the Democratic members Of 'he senate |
committee ON interstate commerce ana /
q Hub-committea of thc house iu,'iti- (
ary committee.
with these committees, which viii I
be ii charge Of anti-trust legislation, I
the president spent several hours,
reading his Forthcoming message and
pointing out the general lines along
which he believes trust legislation
should be framed From the confer
once the following program was as
sured
Prohibition Of interlocking director
ates in banks. trust companies ana
allied industrial corporations
Elimination of uncertainty as TOT
what constitutes restraint Of trade
under the sherman law through spe-
cific definition OF monopolies and
trusts, so that there can be m req
sonable" restrlnt Of trade
The removal Of all possibility OF
Immunity baths" for offending eDr-
porauons or individuals
Esiabltshm ,fan interstate race
COMMISSION which wolld take over
the burcuu of corporations, serve ~
Ian auxiliary 10 the courts am de-
partn.ent Of ustice and act as "a bu-
reau ct information 20 which the bns-
lmtss world could dh,tt inqniriec. 'ut
which would have no power OF srdnt-
ing immunity on of regulations
Provision IN every case for penal
ties based on individual responsibility
ana personal guilt
4 The conferences were devoted large
iN To- generalities The president did
most Of the talking, with occasional
interruptions from his visitors De-
! tails were left to the committees
/ themselves to work out i'm co-opera-
ton with the president, the depart
ment Of Justice and the department of
commerce.
The president impressed his desire
I that the task be- approached in "a
friendly rather than a hostile spirit
/ toward the business world and eX-
pressed a hope for common agree
ment not only among members Of the
two committees. hut of leaders ln eon-
gress generally. who have been active
|in pressing antitrust measures.
Although senators and members of
the house would not discuss the dee
Imns of the message, there was gen-
I oral expression ot approval Of is con.
4 tents
we just h8A discussion If the
general subject with the president
said Chairman Clayton of tine house
committee Gle read MS his message
and wc entered uto discussion after
ward of the problem Of interloekng
dlrectoratea We did not finish if
lani will huHe another conference
soon
Asked if the house sub-comm ttee
outlined to the president some of The
bills il had already framed Mr.. clay
ton ,epliel
"We did NOT 'ome to give the presi-
dent eur IDEAS. bot to get his This
was The chies object Of the confer
l,ncc.'
Mr. Clayton and members ~ the
lcommiUee sad they wer1 hr heMiR
accord With tie presidents vows. Ear
tHer In the day. similar expressions
lfame from Chairman Newlauds and
members of the senate interstate com-
merco committee Some Of them said
+ the presidents ideas struck al the root
lof existing evils, urging legislation
+ that would not be destructive. but
tend rather 10 upbuiid business
The days developments made II
lcertain that the tentative bills ALREADY
prepared by the trust Subcommittee
iof the house Judiciary committee
Iwould be framed. particularly to in
lclude an interstate trade commission.
(which the subcommittee had not em-
bodied in its plan
Both committees have practically
determined to go ahead with the WORK
81 drafting the bills, eliminating hear
/ lngs as they consider enough informa
ltion or the subject already is at ihe!i
disposal.
/ Concerning the proposed interstate
/ trade commission, the opinion was
expressed by several senators and rep
resentatives that It would be created,
but with limited powers.
8 There are pending In congress sew
erai bills providing Tor a trade com
mission. All of them would provide
partisan board to be appointed
by the president with the consent Of
the senate. The presidents idea Is
that q board Of this kind. while serf
ling as an arm 20 the courts, also
schould be an aid TO the department
OF justice and in no manner con
laiet with the Jurisdiction of that de-
/ partment
one feature Of trade commission
being considered concerns the means