ITEMS OF INTEREST March 8, 1913 Issue

ITEMS OF INTEREST

The Supreme Court's modification of the Sherman antitrust law to invoke "the rule of reason" in decisions upon restraints of trade, is attacked in a report presented to the Senate by the interstate commerce committee. The committee recommends new laws to define exactly what combinations are unlawful. It recommends a federal interstate corporation commission, with power to supervise corporations, pass on and approve combinations and agreements, and take over the work of dissolving illegal corporations.

Seven bills drafted by Governor Sulzer of New York and embodying his recommendations in reforms in the New York stock exchange, have been introduced in both branches of the state Legislature. They amend the general business law relative to interest on call loans and fixing the maximum, and the penal laws relative to bucket shops, trading against customers' orders, manipulation, trading after known insolvency, publication of fictitious transactions, and false representation.

Secretary Knox and Ambassador Jusserand have signed a convention to extend for another period of five years the arbitration treaty between the United States and France, which will expire March 12. This is similar to the British arbitration convention, which expires by limitation June 4, and which it was proposed to replace by the general arbitration treaty now awaiting exchange of ratification.

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