The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1914-03-16
TRADE BILL
(continusd from Yirs. Page,

the executive and given TO this nom
partisan body"
Powers Imposed.
Inc bill would transfer all the
powers and duties of the Bureau of
Corporations aud the commissioner
OF corporations to the proposed com
mission OF three members, presiden-
tial appointees. subject TO confirma-
ton. whose salaries would be $40, boo
annually each. Only two OF the com
mlssioners could be from the same
political party. The original CLAYTON
bill. from which the Covington bill
differs very substantially, had provid-
ed Tor hve commissioners and that
the present commissioner of corpora-
tons should be automatically chair
man OF the new commission. The
new bill makes no mention of the
commissioner of corporations II
makes the liked tenure of the commits
sioners six years. and the commission
would choose its own chairman.
The Covington bill defines as cor.
porat1ons all bodies Incorporated un.
der the law. and Joint stock associs.
tions and all other associations hav-
ing shares OF capital or other capital
STOCK or organized to carry on bust.
ness for profit.
Annual Report Section.
Section of the bill. requiring an
nual reports 10 the commission. would
provide that:
Every corporation engaged i'm COM
merce excepting corporations subject
10 the acts to regulate commerce.
which by itself. or with one or more
other corporations owned, operated.
controlled. or organized in conjunc-
ton with II so as to constitute sub
stantially business unit. has cap
1tal OF S5.COO.000 or more, or has a
less capital and belongs TO any class
OF corporations which the commits
sion may make, shall furnish TO the
commission annually such informa-
ton. statements and records of its re-
lation to other corporations and its
business and practices while engaged
require. And the commission, 10 en-
able II the better 10 carry out the
purposes or this act. prescribe as
near as may be a uniform system of
annual reports. The annual reports
shall contain all the required infor-
nation and statistics for the period
OF II months ending with the fiscal
year OF each corporations report and
they shall be made out under oath
or otherwise. In the discretion of the
commission and filed with the com
mission al its office in Washington
within three months after the close
OF the year for which the report Is
made unless additional time be grant
ed in any case by the commission.
The commission may also reouire
such special reports as IL may deem
advisable"
This section penalties violation az
500 a day.
The Clayton bill made not such
classification OF corporations but pen
allied violations az 81 900 a day.
Investigations and Reports.
authorized fnyaaffuaffnpr
ports by the commission. the bill
would provide that:
section l0-The commission. upon
the direction OF the president. the at
torney general or either house of con
gress. will investigate the organize
Ilon. management and business OF any
corporation while engaged in com
merce. TO aid in ascertaining whether
or not the corporation investigated
ls violating the acts relating TO rc-
straint Of trade. And the commits
sion shall make y report OF such in
Nestisation. which may include rec
concentrations for readiustment Of
business IN order that said corpora
bon may thereafter maintain lie or.
Eanizauon. management and conduct
oi business In accordance with law
h"ports made after Investigation
may be made public In the discretion
Of the commission
Nhu IL non IN the course Of
any INVESTIGATION made under this act
me commission snail obtain informa.
tion concerning any unfair rompeti-
Ton or practice In commerce not noe.
cssarily constituting a violation Of law
~ the corporation investigated o.
shall make q report 10 the president
10 aid him In making recommcnda.
uons 10 congress for legislation in
relation To the regulation Of corr.
mcrce and the information 80 obtained
ana INC report thereof shall be- made
Pubnc only upon the direction of tho
PRECEDENT
Another section is designed 10 rom.
cay the present lack Of any bureau
equipped With n trained force 10 au.
stst the department 81 Justice and tho
courts in solving problems connected
Mnn INC dissolution 81 corporations
adJudgcd 10 BE- operating arainst tbo
law