| Show NATIONAL SUPERVISION OVER CORPORATIONS Jan 4 A nAtional board to 11 exercise t lon con control control trot over oer corporations Is provided for tor forIn torIn In inn n a bill Introduced In tho the senate to today today day by Senator Heyburn It In is 8 proposed tin Congress create crealo a now noun department of ot the tho government to exist In tion with tho the department of ot commerce mind labor to bo be Je known knon kni sun as the national board of ot corporations corporation This Thin board shall consist of ot five Oe persons tour tonic to bo be nom nominated by tho tine president for tor terms of ot four tour yours years each at of ot tin nun tine tho fifth firth member mem r hall bo be botho betine tine tho secretary of ot the tho department of commerce and labor Authority far greater than that en on enJoyed Joyed by tho the department now entrust entrusted ed Cd with the tho regulation of ot trusts and monopolies will be given to tolie lie tho national hoard of ot corporations It If Senator bill becomes a 11 law Tho Pho bill provides that the board shall have tho the power to compel the Iho production thorn tion of ot oil III books or documents or tho the attendance lonce of at witnesses to the ho Investigation of ot tIll question affect affectIng Ing lag the tight right of ot a corporation to engage In under tinder provision ot of this aid act Under tho the provisions of ot the bill no corporation corpora would be lIe permitted to en an engage gage In business In any state other than that tl nt In lii which It Is in Incorporated unless nt proof I Is first nut submitted l to tho tine national board that thai such uch Is U Incorporated for tor a n purpose that It Ills h is solvent that it Is not n II party to o any agreement to operate In ro roo of or trade or commerce or which results In Inn giving to It or any person or corporation engaged In like Undo trade an unfair advantage over Oer others that It ItU ItIs U Is not a nu pUtty party to any pooling nl piani which when carried Into Inlo ct would create to a II monopoly of ot tho the trade trado ff p hun bus busIness Iness incus In which such lIch corporation ton or cor corporations Iterations lire are engaged that thai no voting pool 1001 exists by hy which the tho full lull anti and tree free right to vote voto the stock alock of ot the corpora corporation tion by b the tho actual owners of at such lIuch stock tock U hI abridged or prevented that no part of ot tho the capital stock of ot such uch corporation shrill be he controlled owned or voted by any other corporation It Is li provided that thai an nn Interstate transportation corporation bus busl ness flees as a it common carrier shall not bo be controlled coni rolled by nn an other oilier corporation en engaged engaged In like or simIlar ll or nr by any tru trust t or nr controlling pool 1101 of o Inter Interests eMs ests e or other arrangement or merger of ot operations of ot Interests of or such cor If Jt the corporation en tn In the tho production of or coal coni or coal 1 products or engaged In nay any other pro or manufacturing or cornier commer commercial cial Industry It Is provided l that It II shall not receive rC ele any rebate or I I 1 transportation which would I Igho Iglo In rates r 1111 or to tn It discriminatory i glue gho any as against ally other peron or con cor I such products on such transportation lines under like condl condi I Ions I i It Is III I i In the tho case of oC nil all corporations provided that they shall hall not become lilly trust arrangement which would create a monopoly ly ot of any AllY cum corn commercial mercial I Interest Tine The lull bill would require nil all corpora orpo to 10 lie flit annually with Ith tho tine national heard beard of corporations detailed state I 1 meats mentH of ot their affairs together with at af atI that the provisions of tim thet meat incite ell II I UKI 1111 Lii creating tho the national board should bo compiled complied with |
