American Falls press. [volume] (American Falls, Idaho) 1907-1937, 1914-01-29
ANTITRUST MEASURES WILSON
FAvORS ARE GIVEN TO CONGRESS
Interstate Trade Commission Created With the Greatest Powers
Corporations Must Show Books Under Penalty - IN
cIudes Other Features to Crush Monopoly.

mediate.
Hits Interlocklng D:rectorstes.
Concerning directorates, the bill on
that subject, which is to become eff.
fective two years from date of ap
proval Of the act, provides:
mo person engaged as an individ.
ual or as a member of a partnership
or as a director or other officer Of a
corporation in the business of selling
railroad cars or locomotives. or rail
road rails or structural steel, or min
ing or selling coal, or conducting a
bank or trust company, shall act as q
director or other officer or employee OF
any railroad or other public servics
corporation which conducts an inter
state business.
mo person shall at the same time
be a director or other officer or EN-
ploye in two or more federal reserve
banks, national banks, or banking as
sociations. or other banks or trust
companies which are members of any
reserve bank; and a private banker
and a person who is a director in any
state bank or trust company not oper
ating under the provisions of the re-
cent currency law shall not be eligible
to serve as a director in any bank or
banking association or trust company
operating under the provisions of the
law"
Violation of these sections is made
punishable by a fine of 800 a day, OF
by Imprisonment not exceeding one
year. or both.
If any two or more corporations
have common director or directors,
the fact shall be conclusive evidence
that there exists a real competition
between such corporation and such
elimination Of competition shall be
construed as a restraint of interstate
trade and be treated accordingly.
The trade commission bill provides
for commission of five members, with
the commissioner Of corporations as
chairman, and transfers all the exist
ing powers of the bureau of corpora
lions to the commission
The principal and most important
duty the commission besides conduct
ing Investigations will be to aid the
courts when requested in the formar
ton Of DEGREES of dissolution.
With this in view, the bill empow-
ers he our to refer any part of pend
ing litigation to the commission. in.
Guiding the proposed decree, for infor-
nation and advice.
Much Criticism for Bills.
The trust bills as framed will be
the subject of sharp criticism on the
part of ~progressives of all parties who
claim they do not go far enough. II
will be declared that the definition Of
monopoly remains inadequate that the
prohibition of unfair trade practice
does not cover this evil In our econ
omic life that interlocking stock con
troll is not covered and that the pow
ers of the proposed trade commission
are insufficient.
1t is interesting to note that the
proposal to place the burden of proc.
upon a combination believed to be vic
lating the law has been omitted. NJ
attempt is made to prevent or destroy
monopoly based on patents. The great
est difficulty experienced in the effect
i've enforcement of the law has beer
found to be in the unwillingness o
the courts to impose Jail penalty. l
remains optional under the proposed
measures whit the courts to fine o
imprison.
Trade Beard May ~DlsaPpoint.
In connection with the trade com
mission President Wilson declared il
his message that the country de
mands such a commission only as al
indispensable instrument Of informa
ton and publicity as a clearing housi
for the facts by which both the pub
lie mind and the managers Of grea
( business undertakings should b
guided"
The bill prescribes that the commits
t sion acts are to constitute a publ
record" but the body is authorize
to make public the information III
such form and to such extent as ma,
be necessary" or by direction Of tn
attorney general"
Y Settlement Of Differences.
] The most important feature of tn
bill is that which ~legalizes the polio
of the administration of terminatin
: an unlawful condition by agreemen
p between the combination attacked an
the attorney general.
c This feature is comprehended unde
a section which requires the commits
/ sion. upon the request Of the attorne
J. general or any corporation affected
+ to investigate whether a combinatio
p is violating the law. In case the con
r. mission should find the violation {
Z exist it must report to the attorne
General a statement Of the objection
{ able acts and transactions and III
, readjustments necessary for the c
?. Tending combination to conform
II the law.