Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-05-10
H0OVERASRSM6R|
LIBERTY FOR TRADE !
Would Modify Clayton Law n
Permit Forming Of Super.
vised Combinations
OBJECT ISv LOWER COSTS
BY the Associated Prose

New York. May lO.--Ncw iS,i.,,.,
to remove the uncertainties revord,Una
trade association activities was .na "s
gested by Secretary Hoover in n, 'a5
dress here today before the Nat,oanuI,, au,
Manufacturers Association. '''''ai
WITHOUT entering into legal forum.
lation.' Mr.. Hoover said. "my su.mn.
ton is that there should be n MIN.
extension to the Clayton Act IN Ir .pr
effect that interstate trade associa.,onee ne
should be permitted to fi,c with son,s
appropriate governmental agency s ths
plan of their operations and the runne e
nons they propose to carry on, nnd tbo,
upon approval of such of these fnno'
tions as do not apparently controyon.
the restraint of trade acts. thee n,.s
proceed with their operations, "''
IF, upon complaint. however. cith..
of individuals or the law of1iccr. ~
the Government. that these function, 4.
restrain trade. the right to cont;nuo w
these particular functions shall be- snse
pended. and. II continued. they shall +.
subject to prosecution. 70
Associations which do not wish >.
secure this limited Interpretation Of INV %
law. with its assistance TO confidence
should not be required to do so, Tbcr'
however. necessarily assume tho ioh =;
interpreting the law with the risks sucb
Interpretation entails.
Purpose Of Law UNCHANGED
81 believe the time has come wb.n
we must have some assistance from Tho
law. but this does not imply the alter.
alton of the purpose Of the Restraint ~
Trade Acts. The legitimate trade ns.
sociations possess four important dlf.
fcrcnces from capital consultations
First. Their objectives are simnlv
to lessen production and distribution
costs or losses. to increase consumption
of their special commodities, to facii.
tate even and steady supply. to protect
their rights in relation to other economic
groups.
"Sccond. The above purposes are omen
to the common interest Of whole trade
not fraction of it.
Third. The purposes of these as,o.
Citations do not include control of pr,c.
or profits. production or distribution,
Fourth. These associations NAV be
dissolved instantly without any dis.
turbanrc of capital or production"
Business Advancing
Business and trade condition,
throug hout th" United States, as re-.
rortcd by 10000 manufacturers 10
John +. Edgerton. president of the
National Association Of Manufacturers,
today. show a "stnb.e. sane, definite
and continuing advance"
'Wc have not only turned the cor.
nrr.' was Mr.. Fdgrrton's summary Of
n survey Of the industry just completed,
We are now leaving it very far be-.
hind. business is on the up grade in
all of the basic industries :"
The survey was made by question.
Mares. answers to which were received
within the last twenty four hours, So
hat II represents conditions as of TO.
DAY.
"Thp great majority of our basic IN,
dnstrics report that the present trade is
fair to good: some say it is excellent:
but only II small part say it is poor"
the report continued. There il a gen.
ceral tenor Of bright prospects for the
future. and great many of the in.
dustries not only report that they are
employing more men than they were
a year ago. but that they are looking
for n still further increase IN their
forces when the fall work sets in.
No Pessimism in Replies
I'm tho replies there is an absolute
lack of an expression Of pcssimism. A
year ago "" were not SO fortunately
Many Of our industries were
still suffering greatly from the war
fleets: some Of them thought perhaps
hat they would never be able to get
back to normal.
I'm the steel industries today the
survey shows conditions classed as ex.
'cllent among & per cent of our mem.
bership. 2I per cent ms good. 52 per
cent as fair and II per cent as poor.
In tho textile industry 20 per cent Of
them report conditions running from
fair to excellent and 80 per cent report
poor conditions. In the machine and
tool industry we find SO per cent OF the
replies reporting conditions fair TO ex.
'cllcnt and the remainder not so en-.
I'm three industries where rrtrench.
ncnt is ordinarily acutely felt-automo.
)IeS, jewelry and lPather-the showing
= not by any means gloomy. although
rot so good as in other lines. From
he automobile trades good reports are
10 per cent. in jewrlry 80 per cent and
N leather go per cent.
'All of these businesses. from steel
o jewelry. report prospects for high
percentages OF increase between now and
ALL"