Show ANTITRUST ANTI TRUST MEASURES WILSON FAVORS ARE GIVEN TO CONGRESS interstate trade commission created with the greatest powers corporations must show books under penalty includes other feature vi to crush monopoly washington jan 23 the program aid laid down doan by the president in hia his re cent message to congress aa as embed led ed in the administrations trust bills presen presentad tod to congress tho the bills havo have received tho approval of f mr air wilson and tho tile democratic leaders of both houses of congress ath little modification thoy they will bo be enacted into law their purposes aro arc 1 of unlawful monopoly or restraints of trado trade 2 prohibition of unfair trade practice 3 creation of an interstate trade commission 4 regulation of corporation dl doctorates and prohibition of interlocking ter locking directorates direct orates unlawful monopoly defined unlawful monopoly Is donned defined az a my any combination or agreement between corporations firms or persona persons designed for tho the following purposes 1 to creato create or carry out restrictions strict ions in trade or to acquire a monopoly in any rny interstate trade auslie bus lueis qs or commerce I 1 2 to limit or reduce abo production or increase ahe ho price of or merchandise or of any commodity 3 to prevent competition in manufacturing making transporting belling selling or purchasing of merchandise prod produce tice or any commodity 4 to make any agreement on rin ten into any arrangement or arrive at any understanding ty ly which they directly or indirectly undertake to p prevent rent a free and unrestricted competition among themselves or among any ny pup pur chasers or con consumers in the sale production or transportation of any product article or commodity the penalty for violation of the law Is fixed at not more than or imprisonment for one year or both guilt Is made personal through a section that whenever a corporation shall be guilty of tho the violation of the law the offense shall bo be deemed to cover the individual directors officers and agents of such corporation as authorizing ordering or doing the prohibited acta actis and they shall be punished aa as prescribed above A paragraph 7 prohibiting holding companies is to be added to this measure covers unfair trade practices the bill forbidding unfair trade practices declares that to discriminate in price between different purchasers of commodities with the purpose or intent to injure or destroy a competitor either of the purchaser or of the seller shah shall be deemed an attempt to monopolize interstate commerce it is specifically declared that the the law Is to not intended to prevent discrimination in price between purchasers of commodities on account of differ difference enco in th grade ade quality or quantity of the commodity sold or that makes only due allowance for difference in the cost of transportation further it Is prescribed that nothing contained in the act shall prevent persons fram selecting their own customers but this provision shall not authorize the owner or operator of any mine engaged in selling its prod act in interstate or foreign commerce to refuse arbitrarily to sell the same to a responsible person firm or cor pnra tion who applies to purchase an attempt at monopoly also is declared to exist for any person to make a sale of goods wares or mem merchandise bandise or fix a price charged or discount from or rebate upon such price on or the condition or understanding that the purchaser thereof shall not deal in the goods wares or mer chrin diso of a com competitor peUtor or competitors of the seller deals with damage suite A judgment against any defendant in a suit brought under the anil anti trust law the bill provides shall constitute as against such defendant conclusive evidence of the same facts and be conclusive aa as to the same issues of law in bror of any other party in any other proceeding brought unter and involving the provisions of the law for the benefit of parties injured in their business or property by any person or corporation found guilty of violating the law the statute of limitations applicable to such cases shall be injunctive relief is accorded against threatened loss lose or damage by a viola viols tion of the act under the same conditions and principles that injunctive relief against threat threatened ned conduct which will cause ions loss or damage Is its granted by courts of equity it is to required that a proper bond shall be executed against damages for an injunction improvidently granted and it must be shown that the danger of irreparable loss lose or damage te Is immediate hit hits interlocking Direct directorate orates concerning directorates direct orates the bill on v n that subject which ie Is to become c effective f two tuo onra cars from date of approval of the act provides no person portion engaged as an individual or as a member of a partnership or ae as a director or other officer of a corporation in tho the bust bustness ners of belling selling railroad cars or locomotives or railroad ralle rails ar structural steel or mining or belling coal or conducting a bank or trust company shall act as n director or other officer or ot of any railroad or other public carico corporation ahlich conducts an inter business no person shall at the earno same time bo be a director or other officer or em aloye in two or more federal reserve banks national banks or barking associations soc lations or other banks or trust companies which are members of any reserve bank and a private banker and a person who he Is a director in any state bank or trust company not operating under the provisions of ahn t he recent currency law shall not be eligible to servo serve as a director in any bank or banking association or trust company operating under the provisions of the law 11 violation of these sections is mado made punishable by a fine of a day or by imprisonment not exceeding one year or both it any t two tao ao or more corporation corpora tlona s have common director or directors the fact shall be conclusive evidence that there exists a real competition between such corporation and such elimination of competition shall be construed as a rest restraint mint of interstate trade and be treated accordingly the trade commission bill provide provides for commission cf of five members with the commis commissioner Eloner of corporations a chairman and transfers all the elix existing powers of tho the bureau of corporations to the commission the principal and most important auty the commission besides conduce conduct ing investigations will nill ho he to aid the courts hen requested lu in the forma tion of decrees decree s of dissolution with this in view the bill ers ere he lie court to refer any part of pending litigation to the commission including the proposed decree for indol motion mation and advice much criticism for omia the trust bills as framed will be bia the subject of sharp criticism on the part of of all parties who claim they do not go far enough it will be declared that the definition ol 01 monopoly remains inadequate that the prohibition of unfair trade practice does not cover this evil in our economic lito that interlocking stock control is not covered and that the powers of the proposed trade commission are insufficient it is interesting to note that the proposal rop osal to place the burden of bruot upon a combination believed to bo ba t lo 10 lating the law has been omitted no attempt Is made to prevent or destroy monopoly based on patents the great est difficulty experienced in the effective enforcement of the law has been found to be in the unwillingness of ol tho the courts to impose jail penalty it remains optional under the apropo proposed a ed mea measure suren utha the courts to fine or ImP imprison trade board may disappoint in connection with the trad commission president wilson declared in his message that the country demands such r commission only as an arble instrument of information and publicity as a clearing house for the facts by byc which both the public mind and the managers of great business undertakings should be guided the bill prescribes that the commission acts are to constitute a public record but the body la Is authorized to make the information in such form and to such extent as may be neceA necessary sary or by direction of tl ta tle e attorney general settlement of difference differences the most important feature of ta tle e bill is to that which legalizes the policy of tho administration of terminating an unlawful condition by agreement bet between weeti the combination attacked and he me attorn sy ay general this feature Is to comprehended under a section which requires the commission upon the request of the attorney general or any corporation affected to investigate whether a combination Is to violating the law in case the commission should find the violation to exist it must repot to the attorney gameral a statement of the objectionable acts and transactions and the readjustments necessary for the ot of fending combination to conform to the law ami i |