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injury or damage has been sustained by the party or parties complaining, or by other parties aggrieved in consequence of any such violation, it shall be the duty of the Commission to forthwith cause a copy of its report in respect thereto to be delivered to such common carrier, together with a notice to said common carrier to cease and desist from such violation, or to make reparation for the injury so found to have been done, or both, within a reasonable time, to be specified by the Commission; and if, within the time specified, it shall be made to appear to the Commission that such common carrier has ceased from such violation of law, and has made reparation for the injury found to have been done, in compliance with the report and notice of the Commission, or to the satisfaction of the party complaining, a statement to that effect shall be entered of record by the Commission, and the said common carrier shall thereupon be relieved from further liability or penalty for such particular violation of law.

SEC. 16. That whenever any common carrier, as defined in and subject to the provisions of this act, shall violate or refuse or neglect to obey any lawful order or requirement of the Commission in this act named, it shall be the duty of the Commission, and lawful for any company or person interested in such order or requirement, to apply, in a summary way, by petition, to the circuit court of the United States sitting in equity in the judicial district in which the common carrier complained of has its principal office, or in which the violation or disobedience of such order or requirement shall happen, alleging such violation or disobedience, as the case may be; and the said court shall have power to hear and determine the matter, on such short notice to the common carrier complained of as the court shall deem reasonable . . When the subject in dispute shall be of the value of two thousand dollars or more, either party to such proceeding before said court may appeal to the Supreme Court of the United States.

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SEC. 20. That the Commission is hereby authorized to require annual reports from all common carriers subject to the provisions of this act, to fix the time and prescribe the manner in which such reports shall be made, and to require from such carriers specific answers to all questions upon which the Commission may need information. Such annual reports shall show in detail the amount

of capital stock issued, the amounts paid therefor, and the manner of payment for the same; the dividends paid, the surplus fund, if any, and the number of stockholders; the funded and floating debts and the interest paid thereon; the cost and value of the carrier's property, franchises, and equipment; the number of employees and the salaries paid each class; the amounts expended for improvements each year, how expended, and the character of such improvements; the earnings and receipts from each branch of business and from all sources; the operating and other expenses; the balances of profit and loss; and a complete exhibit of the financial operations of the carrier each year, including an annual balance-sheet. Such reports shall also contain such information in relation to rates or regulations concerning fares or freights, or agreements, arrangements, or contracts with other common carriers, as the Commission may require; and the said Commission may, within its discretion, for the purpose of enabling it the better to carry out the purposes of this act, prescribe (if in the opinion of the Commission it is practicable to prescribe such uniformity and methods of keeping accounts) a period of time within which all common carriers subject to the provisions of this act shall have, as near as may be, a uniform system of accounts, and the manner in which such accounts shall be kept.

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SEC. 22. That nothing in this act shall apply to the carriage, storage, or handling of property free or at reduced rates for the United States, State, or municipal governments, or for charitable purposes, or to or from fairs and expositions for exhibition thereat, or the issuance of mileage, excursion, or commutation passenger tickets nothing in this act shall be construed to prohibit any common carrier from giving reduced rates to ministers of religion; nothing in this act shall be construed to prevent railroads from giving free carriage to their own officers and employees, or to prevent the principal officers of any railroad company or companies from exchanging passes or tickets with other railroad companies for their officers and employees; and nothing in this act contained shall in any way abridge or alter the remedies now existing at common law or by statute, but the provisions of this act are in addition to such remedies: Provided, That no pending litigation shall in any way be affected by this act.

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No. 181. Anti-Trust Act

July 2, 1890

SEVERAL bills for the regulation of trusts came before Congress during the session of 1888-1889, but none got beyond the stage of discussion. A bill "to declare unlawful trusts and combinations in restraint of trade and production" was introduced in the Senate December 4, 1889, by Sherman, and referred to the Committee on Finance, which reported it with amendments January 14, 1890. The bill was taken up February 27 and debated until March 27, when it was referred to the Committee on the Judiciary with instructions to report within twenty days. A substitute was reported April 2, and on the 8th passed the Senate with amendments. The House amended the bill so as to make unlawful “every contract or agreement entered into for the purpose of preventing competition in the sale or purchase of a commodity transported from one State to be sold in another." The Senate added further amendments, to which the House disagreed, and the bill went to a conference committee, which recommended that each house recede from its amendments. The acceptance of the report resulted in the passage of the Senate bill.

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REFERENCES. - Text in U.S. Statutes at Large, XXVI., 209, 210. For the proceedings see the House and Senate Journals, 51st Cong., 1st Sess., and the Cong. Record. The text of Sherman's original bill is in the Record, February 27. The report of the House Committee on the Judiciary, April 25, is House Report 1707; for an earlier report on the investigation of trusts see House Report 3112, 50th Cong., 1st Sess. For decisions under the act to 1904 see Gould and Tucker, Notes on the Revised Statutes, II., 622, 623; III., 710-712.

An act to protect trade and commerce against unlawful restraints and monopolies.

Be it enacted. . .

SEC. 1. Every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations, is hereby declared to be illegal. Every person who shall make any such contract or engage in any such combination or conspiracy, shall be deemed guilty of a misdemeanor, and, on conviction thereof, shall be punished by fine not exceeding five thousand dollars, or by imprisonment not exceeding one year, or by both said punishments, in the discretion of the court.

SEC. 2. Every person who shall monopolize, or attempt to monopolize, or combine or conspire with any other person or

persons, to monopolize any part of the trade or commerce among the several States, or with foreign nations, shall be deemed guilty of a misdemeanor, and, on conviction thereof, shall be punished by fine not exceeding five thousand dollars, or by imprisonment not exceeding one year, or by both said punishments, in the discretion of the court.

SEC. 3. Every contract, combination in form of trust or otherwise, or conspiracy, in restraint of trade or commerce in any Territory of the United States or of the District of Columbia, or in restraint of trade or commerce between any such Territory and another, or between any such Territory or Territories and any State or States or the District of Columbia, or with foreign nations, or between the District of Columbia and any State or States or foreign nations, is hereby declared illegal. Every person who shall make any such contract or engage in any such combination or conspiracy, shall be deemed guilty of a misdemeanor, and, on conviction thereof, shall be punished by fine not exceeding five thousand dollars, or by imprisonment not exceeding one year, or by both said punishments, in the discretion of the court.

SEC. 4. The several circuit courts of the United States are hereby invested with jurisdiction to prevent and restrain violations of this act; and it shall be the duty of the several district attorneys of the United States, in their respective districts, under the direction of the Attorney-General, to institute proceedings in equity to prevent and restrain such violations.

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SEC. 6. Any property owned under any contract or by any combination, or pursuant to any conspiracy (and being the subject thereof) mentioned in section one of this act, and being in the course of transportation from one State to another, or to a foreign country, shall be forfeited to the United States, and may be seized and condemned by like proceedings as those provided by law for the forfeiture, seizure, and condemnation of property imported into the United States contrary to law.

SEC. 7. Any person who shall be injured in his business or property by any other person or corporation by reason of anything forbidden or declared to be unlawful by this act, may sue therefor in any circuit court of the United States in the district

in which the defendant resides or is found, without respect to the amount in controversy, and shall recover three fold the damages by him sustained, and the costs of suit, including a reasonable attorney's fee.

SEC. 8. That the word "person," or "persons," wherever used in this act shall be deemed to include corporations and associations existing under or authorized by the laws of either the United States, the laws of any of the Territories, the laws of any State, or the laws of any foreign country.

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No. 182.

Silver Purchase Act

July 14, 1890

In his annual message of December 3, 1889, President Harrison called attention to the decline in the market price of silver, and expressed fear of the effect of a further decline on the value of gold and silver dollars in commercial transactions. The accompanying report of the Secretary of the Treasury proposed the issue of treasury notes "against deposits of silver bullion at the market price of silver when deposited, payable on demand in such quantities of silver bullion as will equal in value, at the date of presentation, the number of dollars expressed on the face of the notes at the market price of silver, or in gold, at the option of the Government, or in silver dollars at the option of the holder"; together with "the repeal of the compulsory feature of the present coinage act." A bill authorizing the issue of treasury notes on deposits of silver bullion was introduced in the House January 20, 1890, by E. H. Conger of Iowa, and referred to the Committee on Coinage, Weights, and Measures. The bill was reported April 9. Another bill directing the purchase of silver bullion and the issue of treasury notes thereon was introduced by Conger April 24, and referred; June 5 an amended form of this bill was substituted for the bill already before the House, and the bill passed, the vote being 135 to 119, 73 not voting. In the meantime a bill prepared by the Secretary of the Treasury, in accordance with the recommendations of his annual report, had been introduced in the Senate January 20, by Morrill of Vermont, by request, had been taken up March 31, and was under consideration when the House bill was received. June 13 the House bill was substituted for the bill before the Senate. On the 17th a free coinage amendment, offered by Plumb of Kansas, was agreed to by a vote of 43 to 24, and the amended bill passed, the final vote being 42 to 25, 17 not voting. · The House disagreed to the Senate amendments, and a conference committee settled the final form of the bill. The report of the committee was agreed to by the Senate July 10, by a vote of 39 to 26, and by the House July 12, by a vote of 122 to 90, 116 not voting. So much of the act as provided for the

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