The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-03-16

commission any Quo9tiOh feOtin9 70
the relief to be granted or any pro-
posed decree therein. whcreup the
| commission shall investigate the mat
| ters referred to- and II shall make n
| full report n its Investigation to the
court"
Mr.. Covinston Explains.
In explaining the bill Chairman Coving.
ton said to-day:
THE Bureau OF Corporations. created
about ten years ago. provided rather ex-
tensive powers to Investigate the organl.
satIon and management OF business cor.
porations and to obtain such Information
a. would enable the President to make
recommendations to Congress for new
legislation.
while these powers were very broad
they failed to provide for the regular
gathering of certain very Important
classes OF Information and failed TO
convey very necessary powers to as
slst In calculating the definite policy
announced by the President for an In.
terptate trade commission.
The bill now presented TO the House
Of Representatives comes from unani.
nous subcommittee OF Democratic and
Republican members and Ia approved by
practically the whole Committee on In
terstate and Foreign Commerce OF the
House.
ut Arst transfers to tho commission
all the powers and duties Of the Bureau
OF Corporations and the Commissioner
Of Corporations. But a mere enlarge
me,t OF the Bureau OF Corr oratlons
would not alone be n sufficient justihca-
ton for the creation of a commission
10 take Its place. The great value to
the American people OF the Interstate
Commerce Commission has been largely
because OF It's independent powers.
THE trade commission bill has there
fore at the outset removed from the con-
troll Of the President Investigations con.
Quoted and Information acquired under
the authority heretofore exercised by the
Bureau OF Corporations Such Informal
ton IL to be obtained within oonstitu-
tlonai limitations and made public at
tn, discretion OF the commission"
Annual Reports Required.
Under section . Of the bill all cor
porations engaged In interstate COM
merce and having a capital OF $4,000
900 or more are required to Me
annual reports giving complete sta.
tistical details of organization, stock
holders. financial conditions and general
business conduct The commission also
has mower to make classifcations OF cor
-. ,,,,ry n capI,ai OF les, than
po' at'o ,, I'll ,a ,.,,tr.a IN
$o.ooc'ovo WIZ" , ,..,. - -
make .he sa'ne T iansa cnrnoraiiors
submitted ps u'' -, eli ssiscn,ior Nr
rms DOVE ..,..,,t r.,ie,a ,be mass ~,
Coving'on saiu, ,rrS arsa.,d tn in.
shai'er pusIIes 50 80, ,ha n.c.ssi,v y,
ters'ate eoin,'. or,s Will. IL reserves
"" .,,t.stnn ,ha, discretion which
ousn. 70 a,sn,o.,ng mad nrac,icss
in Interstate commerce without regard
to the size Of the corporation engaging
In those practices.
THE commission VIII also be authorized
by direction Of the President. the A'tor-
ney-0eneral or either house or congress
to investigate and report the tPcts ie,-
alive to any alleged violation or the anti
trust law. and 1t may include In It's report
recommendations for the REIMBURSEMENT OF
business so that competitive cond uons
may be restored and the corporation In
vestigated may operate lawfully TINS
was the view OF the trainers OF the meas
ure. and on this point the Republican.
expressed entire agreement Win the"
Democratic coworkers.
zone OF the powers conferred upon the
commi ss!on Is that authorizing the courts
TO refer to It any matter concerning the
r,l isf n he. Hrunte0 any prOpCteu uc-