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Show IIS THE IAN Li j EFFECTIVE Attorney General sham Points Out fc in Two Nota-le Nota-le Instances. RD OIL AND 4CCO EXAMPLES ition Now in Prog-Forts Prog-Forts to Hurry the ust Bills in the jwer House. RK, March 7-Georgo W. former attorney general i States, in an address be-issau. be-issau. County Bar assooia-eaid assooia-eaid that the division of 1 Oil and tobacco com-the com-the Sherman law had been spite the belief of many tt raham aaid that undue con-a con-a immediate results of anti-ion anti-ion had blinded the public L really been accomplished apolistdc corporations, e Standard Oil and tobacco tvoro divided," ho said, iat the same persons were in all of tho distributed was used to support the liafc the dissolution was not so companies were separ-rbidden separ-rbidden by tho court to tw, and in tho case of the panics, forbidden to have cors, common directors or nts. t. the time of tho diesolu-ose diesolu-ose facts inevitably would rthor severance of, interest. 3 Impatient, elders', finding that compe-3n compe-3n the companies could not , would, sell their holdings lpauios, and concentrato ?s' in one company, or in that would not bo in coni-li coni-li each other. Tho critics ant. They could not wait much misrepresentation misunderstanding followed, process I foresaw has been i still is. The Rockefeller ie sold their stock in the :e refineries to the Henry interests. .Shortly afto'r on of "tho tobacco trust its itcd Gigar Stores company jutsido interests. The Rey-uy Rey-uy increased its stock from :uty millions, and tho twen-'idual twen-'idual defendants the men lilt up and controlled the enjoined from increasing gs, tho increased stock other hands. James B. mtered his interest largely h-Amcricau company, ontinues. know precisely to what ex-icr ex-icr large holders of the to-5 to-5 have segregated their in- II know the process is go-a go-a the community of stock tho diff oront " companies of tho tobacco trust is igcd, and that it must en-pear en-pear within a reasonably That is tho inevitable re-ling re-ling tho business among a 3 re companies, and eujoin-mpanies eujoin-mpanies from doing the that can prevent tho play al tendency of men to com-ach com-ach other for the rewards 3. People will get tired of company in competition r and yet holding Btock in o soon must .como a timo will voluntarily separato its and independent owucr-tual owucr-tual competition follow. u combination wna built up id of legislation. It was dissolve as a result of logic log-ic process of building toolc twenty years. The results an do not follow as if by jf an enchanter's wand. nmo. l within two or throe jfMt; twenty years' monopolistic c.?ulRund.onc' Buroly the public 'VMM. .satisfied. Groat reforms in idVfc aro achioved gradualh. It the functions of trained yMM: n8 yur6 to Po"t out this qjBje Pfl0P auu" teach them pa- SW&PROGRESS ON jmANTI-TRUST BILLS M(fT0?r March 7A.n offort uui,1.6 heaTO8 on tho administra. Sfh6-MFrnfc Mfe by March 17 will 't'SBST P house judiciary commit-icllySjFnB commit-icllySjFnB to Chairman Clayton. Sev-ianajCTatitt Sev-ianajCTatitt members of the commit- jjpred with tho chairman today nuMc g6710 anti-trust situation m'MTvM, 0.ProPBal that toutatlvo jbiUB be combined into a single Jf presentation to tho hoiiBe. lMKlerf,,lmve csproased dissatis- vtWMtn the progress of tho logis-'fiaW logis-'fiaW an cffc"-t will be made to JSfed en Pago Five.) DECLARES SHERMAN LI IS' EFFECTIVE (Continued, from Page One.) hurry the administration programme along. Tho trade commission bill ha3 been virtually completed by the subcommittee, subcommit-tee, but will bo a subject of conference with President Wilson and Attornoy General McReynolds and committee members before it iB introduced. An effort is being made to havo a unanimous unani-mous report from both tho Democratic and Republican members from the subcommittee, sub-committee, with tho hope of attracting Republican support in tho houso. Tho bill as drawn provides for a trade commission of three at $10,000 a year salary each, with all the powers of the present bureau of corporations, which is transferred to it bodily. Unlike the original Clayton interstate trade commission com-mission bill, it makes no specific reference refer-ence to tho commission of corporations as a member of the trade commission. The bill applies to all corporations, joint stock companies and corporate combinations haviug' a capital of $5,-000,000 $5,-000,000 or more belonging to such classes of concerns as the commission nuiy determine. Jt defines capitalization capitaliza-tion as property of corporations without referring to stocks and bonds The commission, under tho bill, would make rfcports at the instance or either house or congress', tho president or tho department of justice. Tho reports to congress would be made public, but the question of publicity of the other reports, re-ports, inasmuch as they might affect pending legislation, perplexed the com-mitteo. com-mitteo. As it stands, this is left to tho discretion of the commission. The bill provides full power for the commission to make for any corporation corpora-tion "such adjustment of business as will avoid violation of the law." This point js still subject to advice from the attorney general. It also provides that while the commission may bo appointed immediately tho time in which its mandatory man-datory provisions shall become operative shall not bo until sixty or ninety dayB after its enactment. |
