Jasper County Democrat, Volume 17, Number 52, Rensselaer, Jasper County, 7 October 1914 — CLAYTON BILL PASSED [ARTICLE]

CLAYTON BILL PASSED

Four Democratic Senators Opposed Measure. One Section of Anti-Trust Act May Be Repealed—Vote Is 35 to 24. Washington, Oct. 6.—The Clayton anti-trust bill, as changed in conference, passed the senate by a vote of 3;> to 24, four Democrats joining the Republicans in opposition to the measure. The Democrats who opposed the bill were: Lane, Martine, Reed and Thonias.

Democratic senators not in favor of the bill were induced to vote for it on a promise by Senator Culberson that the provision in jt regulating interlocking bank directors would be given further consideration at the winter session after modifications had been dratted by the federal reserve board. The senate judiciary committee had recommended elimination of reference to bank regulation on the ground that sucn provision had no place in an antitrust law, but belonged to the banking and currency law. It urged the issue be left open until a report from the reserve board could be obtained. Acting on this recommendation, the senate rejected the provision, but the senate conferees restored it on the insistence, they claimed, of the house conferees.

\\ ith passage of the conference report there is an understanding that the tederal reserve board will prepare regulations concerning the relationship of directors in banks and banking institutions which will be submitted to congress next session as au amendment to the banking laws. When enacted this regulation will repeal the objectionable section in the Clayton bill as passed by the senate. Senator Reed forced a roll call on his motion to recommit the bill to the conference committee, but was beaten, 35 to 25. The Democrats who voted to recommit were: Reed. Lane. Martine, Thomas. Vardaman and Williams.

A motion by Senator McCumber to cary the bill over as unfinished business to the winter session was defeated w ithout a roll call.