El Paso herald. (El Paso, Tex.) 1901-1931, 1914-09-24
TRUST
BILL COMPLETED
Measure Is Now Ready for
Final Consideration of
Congress After Report.

washington. d. C., Sept 2A-The
Clayton antitrust bill is finished. and
is ready for the consideration of con-
gress- The Conferees on the measure
made their final report wednesday.
The bill as il now stands is a combiua-
ton of house and senate bills
Primarily the bill would. as urgently
suggested by president Wilson. provide
that any director, officer or agent of Il
corporation violating the antitrust
laws or who might aid or counsel such
violation, should be deemed guilty Of a
mfsdemeauOr punishable by a fine NOT
exceeding $4,000 OF by Imprisonment
not exceeding one year. or both
Important changes made in the meas
ure as il left the senate relate 10 inter-
locking directOrates and exclusive con-
tracts The COufere5s restored The
house section prohibiting interIOckinE
directOrates Of bank directors with an
amendment TO proVlde-
That from and after two years FOL
lowing the passage or the act no FER
son shall at the same time be a director
or other officer or employee Of more
trust company which has deposits, cap
ftal. surplus and undivided profits AZ
gregaung more than $1,000. 600. the
provision TO be applicable only to
more than 100000
Stronger Than House BIZ.
The house bill fixed the capital lin
itation at S25O0.000 and contained no
population limitation
Interlockiug also would be prohibit
ed Of directors in competitive corpora
tons having a capital Of more than
100000 if elimination Of the compe-
tItlOn would constitute q violation Of
the trust laws Railroad directors
would be prohibited from serving as
directors Of corporations dealing with
securities or supplies IN excess Of $780,
600 a year, except through competitive
bidding under regulation Of the inter-
state commerce commission
Prohibits Exclusive Contracts.
The provision TO prohibit exclusive
contracts fellows the spirit Of the
Walsh amendment TO maintain .nde-
pendcnce of retail dealers.
II would make il unlawful 10 lease
or make a sale or contract for sale Of
goods, patented or unpatented, on the
condition, agreement or understanding
that the lessee or purchaser shall not
use or deal I'm the goods OF a cOmpeti-
tor Of the lessor or seller where the
effect Of such transaction may sub
stanually lessen competition or tend
TO create monopoly. Specific penalty in
this section Of the senate bill was elm
mated
FOrbIds Price Discrimination.
Price discrimination between pu--
chasers would be prohibited BY the BILL
and holding companies would be pro-
hlbited when requirement Of corpora
tons by another would create mOnor,-
Oily or SUBSTANTIALLY lessen COMPETE
.tiou
Labor. agricultural and fraternal or
CARNATIONS are exempted from the pro-
visions Of the law and labor is de-
clared not to be a commodity.
n provision growing out Of the New
Haven railroad difficulties would make
felony for any officer or director OF
corporation 70 wilfully misapplv its
funds or TO wilfully permit them to DE
misapplied- This is made punishable by
fine Of not less than $500 or bv i'm
prisOnment for not less than one year
or more than 10 years or both.
Trial for Contempt.
Provisions modifying and liberaliz-
Ing the injunction laws were reported
as agreed on in the senate. and rial
by jury is provided in cases Of indirect
contempt
Several senate amendments were
eliminated One Of these would have
given the courts authority TO appoint
receivers for convicted corporations TO
sell the property TO persons who would
restore competition.
Senator CulbersOn submitted the con-
ference report to the senate late
yesterday, giving notice that he would
call it up at the earliest opportunity.