Salt Lake Herald-Republican | 1913-01-24 | Page 8 | Clearing House Associations is Subject Bill

CLEARING HOUSE ASSOCIATIONS IS SUBJECT OF BILL Wight Measure Provides Fine and Jail Jai for Unlawful Co Combinations nl bin at ion S I Dealing with wih n hou-n associations ocla bill b L. L a n bi by B. B 1 WI ht prohibiting pro pro- unlawful for tile J purpose of or fixing rates raes of or t ana ls anu ana providing pro fines or rj sentences as for fur penalties violation w-ts w introduced d In In tho tim Bonn senate Yesterday I Senator Wight I ht author of or tho bm bill s ald said that tho tIle recent Inquiry into the methods method of tho the clearing house tion of or Salt Lake I h ton Sal by the Pujo commit commit- tee ice of or tho tile lower house of con congress had 1151 suggested the tile measure to him hlO Th The Wight bl bill a n short hort one reads as follows fol fol- fol- fol lows lows' Section 1 1 Any n person bank banI tru trust t company compan corporation or association of or pers persons ns who shall shaH enter Into become becom n a member of or or a a party to al any pool pooh trust agreement combination confederation or understanding with wih Rn any other person bank trust bank company corporation cor cor- or association of or por persons to regulate or fix tho rate lao of or Interest or discount to bo be hared charged b by 13 them interest inter inter- est eat on Oil daB dally daily monthly or yearly yearl balances bal anc ances g to bo be pal paid by them or premiums I or a accommodations to be demanded or given b by them or to harass oppress oppressor or Injure any person bank banI trust company com corn IH pany corporation or association of oC perSons persons per per- perI I sons doing a a like Iko business except In Inthe intile the tile regular and usual course courso or conduct conduct conduct con con- duct of or such business shall ho bo deemed I guit guilty of or a misdemeanor and shall on conviction the ot bo ho punishable by a afine fine not exceeding the tho sum O of or of ot imprisonment in the count county Jail not notto notto notto to exceed sl six months Section 2 2 This act shall shan take tko ef effect er- er feet teet upon pon approval al The Tile bill bi was wa referred to tile the committee commit commIt- tee on Judiciary S