The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-01-23
WILSON WON'T HIT At
STOCK EXCHANGES
Regulation of Transactions Not
Part Of His Antitrust
Programme.
WILL KEEP TO PLATFORM
Republican Aid Is Assured in
Passage Of the Five Cor
pOratiOn Bills.

WASHINGTON, Jan. e3.-President Will
son let It be known to-day that he had
no intention OF asking Congress to pass
a law regulating the operations Of STOCK
exchanges. 1t had been reported that Mr..
Wilson had contemplated making a recon-
mendation affecting stock exchanges as
part Of the antitrust programme that
he submitted to Congress on Tuesday.
Such reports. 1t appears. are without
foundation.
1t was learned that the Presi-
dent regards the problem OF stock ex-
change regulation as one entirely distinct
from those which he has endeavored to
handle In the legislative programme
outlined in his address to Congress.
The President made the statement that
he will confine his recommendations to
Congress for legislation to the subjects
to which the Democratic party committed
itself in the Baltimore platform. The
President said that the stock exchange
legislation was not promised by the Bal
timore platform
This announcement substantiated the
belief long held by persons close to the
President that ne considers himself COM
missioned BY the people Of the country
to carry out a definite programme II
! reform through legislation and that he
has not the right of confusing his per-
| sonal views with those which the people
| approved in voting for him In 1912.
Wants VOting Power Limited.
Another subject on which the President
| touched in his discussion with callers to-
| day was the suggestion. embodied In his
| message. that 1t might be wise to in
| corporate In one of the anti-monopoly
| bills a provision to limit the individual
voting power OF persons owning stock in
| various corporations having common in
| terests
The President explained that he had
| not not ventured to make so definite a
| recommendation to Congress upon this
| subject as upon others. He said that the
mind OF the country was not so fully
made up on this question az upon tho
others under discussion. He desired
merely to lay this matter before Con-
grcss to he dealt with as that body
might see ft
! The President expects that full hearings
will be given by the Judiciary and Inter
| state Commerce committees Of the House
and Senate upon the bills to be introduced
with the Administrations approval He
said that he was sure the fullest cppor-
tunity would be given to business men to
express their views at hearings.
| The President expressed his approval
| to-day OF Majority Leader Underworld
| action In procuring the reference to the
! Committee on Interstate Commerce of the
section Of his message dealing with the
: Interstate Trade Commission and with the
new powers to be conferred upon the In
terstate Commerce Commission. The
| President referred to the division OF labor
| between the judiciary and Interstate
Commerce committees as normal dis
tribution.
1t is the Presidents belief that the Ad-
| ministrations antitrust bills will make
| compa ratively even progress through the
| House and Senate and that they will be
! enacted approximately at the same time,
Attitude Toward Republican,.
Inquiry was made OF the President to-
day as 10 whether or not the Republican
members of the two committees would be
| consulted In the handling OF the Admin
| istration bills
The President is perfectly willing tina.
the Republicans shall be allowed partici-
patton In the work incident to perfecting
| the trust programme. He. however. will
not invite Republican members to attend
the conferences in the White House upon
the measures as they approach compile
| ton. He will merely invite the chairmen
OF the committees and the chairmen them
selves Will be privileged to select the
| committee members who may accompany
| them To the conferences.
| Information which has come to the
! President has assured him that Republi-
| can members OF the Judiciary and, Inter
state Commerce Committees OF both the
House and the Senate are willing to par
| ticipate In the formulation OF the Admin
| istration's proeramme These assurances
In a measure have inspired in the Presi-
dent the belief that party lines need not
be drawn strictly In the forthcoming fgh,
for the enactment of the Ave corporation
bills
1t Is not the Presidents purpose that
| the bill to confer upon the Interstate Com
| merce Commission the power OF regulat-
ing the issuance of railway securities
shall be retroactive The regulating power
shall apply according to his plan, only to
future Issues of these securities.