?
The Commoner
JUNE, 1914
9
tor or other .officer or employee of any such .
common carrier for which he of such partner
ship or bank ' or trust company acts, oithter
separately or in connection with others, as agent
for or underwriter of the sale or disposal by such
common carrier of issues or parts of issues of Its '
securities, or from which ho or such partnership
or bank or trust company purchases, either sep
arately or in connection with others, issues or
parts of Issues of securities 'of such' common
carrier.
' that from, and after, two years from the date
of the approval of this act no person shall. .at
the same, time be a director or other officer, or
employee of more than one bank, .banking. asso
ciation, or trust company .organized, or opqrat
irig Under, the laws of the United States either
of which deposits, capital,, surplus, and undivid
ed1 Profits aggregating more than ($'2,(00J0"(Jp;
and no private banker or person who is a direc
tor in any bajik or tr.ust company, organized and
operating under the laws of a state,, having de
posits,; capita.l, surplus, and undivided, profits
aggregating more than $2,500,0.00, .shall be
eligible to be, a director in any bank or. banking
association organized or, operating under, tje
laws 6,f the, United States. The eligibility pf a
dire'c.tor, officer, 'or employee under the foregoing
'provisions 'shall be determined, by the average
amount of deposits, capital, .surplus, .'and undi
vided profits as shown in the. official statements
of4 such bank,, banking association, or trust com
pany -.filed as .pro.vided by. law during'. the. fiscal
ea.r next preceding the .date set for the annual
election of directors, and when a director, officer,
or. employee has been .elected or. selected, in, ac
cordance, with, the provislops vof this . act ,lt shall
be lawful fq'r, h'im. fb cpntinuo as such , or. oue
year thereafter .under said election oiempiay-
w1' . :..-..',. ....,, , ;
o bank,, banking association, or trust, com
pany , organized or operating; under the- laws of
the , United States- in anycJty or incorporated
town or village of more thanone hundred 'thou
sand inhabitants,, as shown by the lust preced
ing decennial census of the United Statesv shall
, hayeh.as , a, director or :other-oiucer or,. empldyee
nyiPrtYat,, .banker .or any director, or -other
officer oi) employee.tof any other bahk,hbanking
associat'on,- or trust company located in the' same
place: Provided, That nothing in this section
shall aitoly to mutual. savings; banks not having
a capital stOok represented by shares':- Provided
, further, That a director or other officer or em
ployee, .of such bank bankings association, or
trust company may be a director or other officer
on employee of not more than one bahk or' trust
company organized! under the. laws of the United
States or any. state where the entire capital
stock .of one is owned by stockholders in the
other: And provided further, That nothing con
tained in this section shall forbid a director of
class A of at federal reserve bank, as -defined in
the. federal. reserve act, from being an officer or
-director or both-an offioer and director in one
.member bank.
'That from and after two years from the date
-of the approval of this act ho person at the sahae
tihVe"shall be a director in any two or more cor
porations; either' of which has capital, surplus,
and ' undivided 'profits aggregating more than
$1,000,000 engaged in whole or in part incom
Wercei, other thatt common carriers 'subject to the
act to regulate commerce, ' approved 'February
4th, : 1887, if such- corporations are or shall
'have .been therefore, by virtue of their
business- and location of operation, competitors,
so' that an elimination of competition 'by agree
ment between them would constitute a violation
of any of the provisions of any of the rintl-trust
'laws." -The eligibility of a (director 'under the
foregoing provision shall be determined by the
aggregate amount of the capital, surplus and un
divided profits, exclusive of dividends declared
but not paid to stockholders, at the end of the
fiscal yea' of said corporation next preceding the
election of directors, and when a director has
been elected in accordance with the provisions of
thte act it 'Shall be lawful for him to continueas
such i for one year thereafter.' ' '
' ' Wheil "aii'y person elected' or chosen as a dl
feVtb'r or officer or selected 'as' an empldyee of
",1a,nyllv'bank 'or 'other corporation ' subject to' the
'pdVislom tit this act, fs eligible at the time of
'li is" election 6r selection to act for such bahk.br
'dtlier cfcrpdratlon in snett capacity his eligibility
'Wadihsu'dh' capacity Bhall'riot be' "affected and
fi&httir rit'fi'e'cojne or'n'e deemed amenable, to
J'air?rof',ftid provisions' hereof' by reason of arfy
hfefe'lAHhe'hffairs'of1 dubh'bank or'dth'ercbr
'pbtfation from' 'whatsoever' cause! Whether 'spe
cifically excepted by any of the provisions here-
bf or tfot, until the expiration of one year from
the date of his election or employment.
That any person who shall violate any of tho
provisions of this section shall bo guilty of a
misdemeanor and shall bo punished by a fine of
not exceeding $100 a day for each day of the
continuance of such violation, or by imprison
ment for such period as the court may designate,
not exceeding one year, or by both, in the dis
cretion of the court.
Sec. 10. That any suit, action, or proceed
ing under the anti-trust laws against a corpora
tion may be brought not only in the judicial
district whereof it is an inhabitant, but also in
any district, wherein it may bo found or has an
agent.
Sec. 11 That in any suit, action, or proceed
ing brought by or on behalf of the United States
subpoenas for witnesees who are required to,
attend a court of tho United States in any
judicial district in any case, civil or criminal,
arising under the anti-trust laws may run into
any other district: Provided, That in civil cases
no writ of subpoena shall issue for witnesses
living out of the district in which the court is
held at a greater distance than one hundred
miles from the place of holding tho same with
out the permission of the trial court being first
had upon proper application and cause shown.
Sec-12. That whenever a corporation shall
violate any of the provisions of the anti-trust
laws, such violation shall bo deemed to bo also
that of the individual directors, officers, or
agents of such corporation who shall have au
thorized, ordered, or done any of tho acts con
stituting in whole or in part such violation, and
, such violation shall be deemed a misdemeanor,
and upon conviction therefor of any such di
rector, officer, or agent he shall bo punishod by
afine of not exceeding $5,000 or by imprison
ment for not exceeding one year, or by both, in
the" discretion of the court.
Soc. 13. That the several district courts of
the United States are hereby invented -with juris
diction to prevent and restrain violations or this
act; and it shall be the duty of the several d's
trict attorneys of the United States, in their re
spectiVe'tiistrlcts, under tho direction of the at
torney general, to institute proceedings In equity
to prevent and restrain such violations. Such
proceedings ma he by way of petition setting
'forth the case and praying that such violation
'shall be enjoined or otherwise prohibited.' When
the.''barUes complained of shall have been duly
notified of such petition, the court shall prpceed,
as soon as may.be, to the hearing and determ
inati.oh of the case; and pending such petition,
and before final decree, the court may at any
time make such temporary restraining order or
prohibition as shall be deemed just in the
premises. Whenever it shall appear to the court
before which any snch proceeding may be pend
ing that the ends of justice require that other
parties should bo brought before the court, tho
court may cause them to be summoned, whether
they reside in the district in which the court is
held or not, and subpoenas to that end may be
served in any district by the marshal thereof.
Sec' 14, That any person, firm, corporation,
or association shall be entitled to sue for and
have injunctive relief, In any court of the United
States having, jurisdiction over the parties,
against threatened loss or damage by .a viola
tion of the anti-trust laws, when and under tho
same conditions and principles ha injunctive re
lief against threatened conduct that will cause
loss or damage Is granted by courts of equity,
under the rules governing such proceedings, and
upon the execution of proper bond against dam
ages for an injunction improvidently granted
and a showing that the danger of irreparable
loss jor damage is immediate, a preliminary in
junction may issue: Provided, That nothing
herein contained shall be construed to entitle
any person, firm, corporation, or association, ex
cept the United States, to bring suit in equity
for injunctive relief against any common
carrier subject to the provisions of the act to
regulate commerce, approved February fourth,
eighteen hundred and eighty-seven, in respect of
any matter subject to the regulation, supervi
sion, or other jurisdiction of the Interstate com
merce commission.
Sec. 15. That no preliminary injunction
shall be Issued without notice to the opposite
tfarty.
No temporary restraining order- shall be
granted without notice to tho oppbsite party
unless it shall clearly. appear from 'specific facts
shawn1 by affidavit or by the Verified bill that
;fmm0di'ate ahd irreparable in jurylb'ss, or dam
age will result to' property' or 'a property right
of the applicant before notice could be served
or hearing had thereon. Kvcry such temporary
restraining order shall be Indorsed with the date
and hour of issuance, shall be forthwith filed in
tho clerk's officb and entered of record, shall de
flno tho injury and stato why it Is Irreparable
and why the order was granted without notice,
and shall by its terms expire within such lime
after entry, not to exceed ten days, as tho court
or judge may fix. In case a temporary restrain
ing order shall be granted without notice in tho
contingency specified, the matter of the Issu
ance of a preliminary injunction shall be set
down for a hearing at the earliest possible time
and shall take precedence of all matters except
older matters of tho same character; and when
tho same conies up for hearing the party obtain
ing the temporary restraining order shaH .pro
ceed with his application for a preliminary In
junction, and if ho docs not do so the cpur't
shall dissolve his temporary restraining order,.
Upon two days' notice to tho party obtaining
such temporary restraining ordor the opposite
party may appear and movo tho dissolution or
modification of the ordor, and In that event tup
court or judge shall proceed to hear and deter
mine the motion as expeditiously as the ends of
jUHtico may require. "t
Section two hundred and sixty-three of an
act entitled "An act to codify, roviso, and append
the laws relating to tho judiciary," appr'ovpd
March third, nineteen hundred and eleven, . Is
hereby repealed. x
. Nothing In this section contained shall . bo
deemed, to altor, repeal, or amend section tw,b
hundred and slxty-s'x of an act entitled "An act
to codify, revise, and amend the laws relating
to the judiciary," approvod March third, . nlue
teen hundred and eleven. ,,
Sec. 1C That, except as otherwise provided
in soctlon fourteen of this act, no restraining
order or .interlocutory order of injunction shall
issue, except upon the giving of security by tho
applicant in such sum as tho court or judge may
deem proper, conditioned upon the payment of
such costs and damages as may bo incurred or
suffered by any party who may be found to havo
been, wrongfully- enjoined or restrained thereby.
Sec 17. That evdry order of Injunction dr
restraining order" shall sot forth the reas6ris for
the issuance of the' same, shall be specific in
terms, and shall describe in reasonable detail,
and not by roferendo to the bill of complaint or
other document, thG act or acts sought to be re
strained, and shall be binding only upon tho
parties to the suit, their agents, servants,' em
ployees, ahd attorneys, or those in active con
cert with them, and who shall, by personal'serv
icc or otherwise have received actual notice of
tho same.
Sec. 18. That no restraining order or Injunc
tion, shall be granted by any court of the United
States, or a judge or tho judges thereof, in any
case between an employer and employees, or be
tween, employers and employees, or between
employees, or between persons employed and
persons seeking employment, involving, or grow
ing out of, a dispute concerning terms or condi
tions of employment, unless necessary to prevent
irreparable injury to property, or to a property
right, of tho party making the application for
which, injury there Is no adequate remedy at
law, and such property or property right must
be described with particularity in the applica
tion, which must be in writing and sworn to by
the applicant or by his agent or attorney.
And no such restraining order or injunction
shall prohibit any person or persons from term
inating any relation of employment, or ' from
ceasing to perform any work or labor, or from
recommending, advising, or persuading others
by peaceful means so to do; or from attending
at or near a house or place where any person
resides or works, or carries on business or
happens to be, for the purpose of peacefully ob
taining or communicating Information, or .of
peacefully persuading any person to work or to
abstain from working; or from ceasing to
patronize or to employ any party to such dis
pute, or from recommending, advising, or per
suading others by peaceful means so to do-; or
from paying or giving to, or withholding from,
any person engaged In such dispute any strike
benefits or other moneys or things of value; or
from, peacefully assembling at any place in a
lawful manner, and for lawful purposes; or from
doing any act or thing which might lawfully ba
done in the absence of such dispute by any party
thereto; nor shall any of the acts specified In
this paragraph be considered or held unlawful.
Sec; 19'. That any person who shall wllirully
disobey 'any' lawful writ, ' process; order, 'rule,
decree, or command of any district court of tho
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