Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-23
ANTITRUST LAW
CHANGE ADVOCATED
Texas Company Official
Urges Qualification of Legis-
Iation Affecting Business.
BY JOHN F. SINCLAIR.

NEW YORK, March 23.-Judge c. B
Ames, vice president Of the Texas Co.
wants the enforcement machinery of the
Sherman antitrust laws changed, sc
that business men may determine before
instead of after, whether contemplat.
ed consideration is within or without
the law"
The Judge thinks the laws should be
so clarified that men, honestly trying
to keep within the law, should be helped
to do so rather than to be told to take
a chance of being charged with an in
tent to break the law.
'Unwise legal restraints in the pro-
ducing, refining and marketing branches
of industry have seriously hampereo
constructive effort, have hindered sound
leadership and have actually thwarteo
the efforts of Government agencies to
secure effective conservation" says
Judge Ames.
Oil Industry.
Take the oil situation as case in
,Nint. A study of oil conditions was
made by the American Petroleum Instl-
tute, conducted under the auspices OF
the Federal Oil Conservation Board
THE program worked out provided that
the 1929 production should not exceed
that of 1923, in order to bring ABOUT
a better balancing OF supply ana de-
mand."
AN American producers, as well as
those in Mexico and Venezuela, agreed
to this program, subject to the approval
of the Federal Oil Conservation Board.
THE board referred it to the United
states Attorney General. He declared
il to be a violation of the Sherman
antitrust laws, on the ground that II
involved undue and unreasonable re-
straint of trade.
Since that time the situation in the
oil business has grown from bad TO
worse. Pro-ration by individual states
has been tried. but this, too, Is DAN
rero,ls proceeding because 1t is not
unified and organized in a comprehen-
sive way.
The fact is our antitrust legislation
ia founded upon inadequate and out
worn economic principles"
U. S. Wealth.
How much is America worth? The
National Industrial Conference Board
Estimates that in 1929 the total wealth
of the United States was 1851 800, OO0,-
600. while the national income for the
same year was S84,000,00 1000.
Thus the per capita wealth was $2,977
and the per capita income 1892.
Compared with the 1918 dollar, based
IN purchasing power, our total wealth
in 1929 was S26l, 700, 100000, the total
national income was $52500, 900, 600 and
the per capita income was 1892
Strange as it may seem, the per cap
tia wealth is much larger in the poorer
states. Nevada, with a per capita
wealth of S6,318, is first on the list
of States. It has the smallest popu-
Iation. too. of any State South Dakota
is second on the list with $4,964. Then
comes Montana with S4,755. Iowa Is
fourth with S4,617 and Idaho and wy
oming follow, each with S4,ll9 per
New York, the wealthiest State in the
Union. has a per capita wealth OF
but $3,276.
it represents tangible physical assets
only. excludes credits and securities,
but specifically includes land and struc-
tllre and other improvements thereon
the equipment of industrial enterprises
and farms, live stock, railroad and pub
lie utilities land and equipment, per-
sonal property, motor and other We
hicles and gold and silver coin and
bullion.
Now what is national wealth? The
Conference Board defines it as tine
aggregate value Of all commodities pro-
duced and services rendered 10 wnlch
a price IS commonly attached, ana Is
Equivalent to the sum of the personal
incomes received by all individuals In
the country, plus business savings.
Economic War"
Admiral w. s. Sims thinks disarma-
rnent conferences more or less useless.
He advises paciflsts to come out OF
the clouds and eliminate the source OF
the eyiL-"trouble- breeding tariffs"
I'm spite Of the talk OF peace" Ad-
rniraI Sims says, almost the entire
world Is engaged in a tariff war. The
nations are arming as never before, 1or
the economic welfare breeds hatred and
suspicion. If tariffs and international
duties are abolished, it would be pos
sible to abolish navies and armies as
well for there would be no more wal"
This admiral, who retired from the
Navy in 1922, believes that the paci-
fists should concentrate against eco
1ounic war" upon the theory that If
they can control this situation, they
can put the armies and navies out OF
business
He believes that the Navy in Amer
lea as elsewhere, is Influenced too much
by politics. The public knows little or
nothing about it. Various members OF
Congress want navy yards here, there
and everywhere. That's why the Navy
found itself with IL yards. not one ca
r1able of handling the entire feet, when
two wards on each coast would be ample
II large enough, he said.
Industrial Bonus Fight.
on April / Richard r. Rogers, one
time chief counsel Of the Interborough
Rapid Transit Co of New York, will
protest at the stockholders meeting OF
the American Tobacco Co. against the
bonus-for- the management plan, which
this company has had in force since the
aggressive George w. Hill became its
president.
Mr.. Rogers cannot see why President
Hill in 1880 should have had a salary
and cash bonus Of $l008,000 and also
S1.275, 900 IN stock. SO he is going 70
make a determined fight against such
a bonus arrangement.
Already an organization, called the
Beayers-"the Workers organized
a movement limiting to maximum OF
100000 annually the total compensa-
ton OF any executive Of any corporation
Here's what they say:
1.-THE Beavers advocate no conflsca-
ton! Let. the present rich keep and
enjoy their richesl But in the future
bllcy 4lASb dAJNSk sANCAApSA'E0 w o.,
along on no more than an income OF
100000 a year, which is the Beavers
maximum income for any one. no mat
ter how big or clever! Whatever more
they may draw will be numerically
taxed by a stiff graded income tax
We believe one can get along nicely or
100000 a year The President Of the
United States Of America is getting
along famously on leSs!"
Copyright, 1891. by North American News.
paper Alliance