The Sentinel=record. (Hot Springs, Ark.) 1900-current, 1914-09-03
CLAYTON BILL
PASSES SENATE
WITH MANY AMENDMENTS 1T
FINALLY is ADOPTED BY SEN
ATE BY VOTE OF 46 TO 16.
The Bill Provides Fines and lmprisn-
ment For Officers of Corporations
Convicted of Certain Offenses.

Washington, Sept. amended IN
many particulars. the Clayton anti
trust bill, which supplements The
Sherman law and completes the I'd
ministration's trust legislation pro
gram for this session of congress-
passed the senate late today 46 to IS
and will be sent TO conference, where
the federal trade commission bt@-
first of the antitrust measures-still
is under consideration. Reports IN
bon measures are hoped IGr s.ithia
two weeks.
Seven republican senators voted for
the bill-Brady, Clapp, Cunlmins,
Kenyon. Norris. Perkins and Jones'
They were joined by one progressive.
Poindexter.
The bill provides fines and imprls-
onment for officers of corporations
convicted Of offenses against the
trust laws prohibits exclusive and
tying contracts which restrict indie
pendence of purchasers: prohibits
holding companies where their effect
is to lessen competition or Great
monopoly, and makes illegal two
years after passage OF the act inter-
locking directorates in cOmpetns cor
porations any one OF which has Capl-
tai of more than $l,00O,0o0. II also
forbds the interlocking of railroad
directors with corporations dealing Ia
securities, railroad supplies or con
tracts and liberalizes procedure in in
junction and contempt cases.
Sections of the house bill relating
to price discrimination and Unfair
competition were stricken out in the
senate.
Labor, agricultural and horticul-
tural organizations not conducted for
profit are exempted from the PROV
sions relating to monopoly.
The maximum penalty fixed for
violation of the provision preventing
exclusive contracts is $4,000. Or one
years Imprisonment, or both.
The provision against holding com
panies would prevent common car
riers from acquiring branch lines
where there is no substantial compe-
titfon.
Sections relating to interlockiag
directorates are made effective two
years after the passage of the act.
Directors of railroads, under the
terms of the bill, cannot be inter
locked with corporations dealing in
securities, railroad supplies or other
articles of commerce or contracts for
construction, maintenance, etc, to an
amountof more than $4,000 in any
one year unless purchases are made
after competitive bidding under regu-
Iations of the interstate commerce
commission. A penalty of two years
Imprisonment and $4,000 fine is pre-
scribed for violation.
Another provision makes it a felony
for officials of common carriers cor
porations wilfully to m.sapply or per-
NIT misapplicatiOn Of funds of the
corporation. the penalty being not
Less than $500 fine or imprisonment
for not less than one or more than
ten years, or. both.
The section dealing with court pro
cedure provides that no injunction
shall be issued between employers
and employees in labor disputes un,ess
necessary to prevent injury to prop.
erty or property rights, and no such
order shall prohibit the right OF enl-
p Dyes to strike o. peacefully per
suade others to do so. Disobedience
of writs subject offenders to con
tempt proceedings accused in ndi-
rect cases being granted trial by
Jury.
President Wilson viii delay his s.-
lection Of the members OF the new
trade commission until after the
measure has been harmonized with
the Clayton bill by the conference re-
ports. He has not considered any
names as yet.