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THE SHERMAN ANTITRUST LAW.

Passed by the 51st congress Section 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 $5,000 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 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 $5,000 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, ΟΙ between any such territory or territories and any state or states or the District of Columbia or with foreign nations, of 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 conspiracy shall be deemed guilty of a misdemeanor, and on conviction thereof shall be punished by fine not exceeding $5,000 or by imprisonment not exceeding one year, or by both said punishments, in the discretion of the court.

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and approved July 2, 1890.

ing that such violation shall be enjoined or otherwise prohibited. When the parties complained of shall have been duly notified of such petition the court shall proceed, as soon as may be, to the hearing and determination 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.

Sec. 5. Whenever it shall appear to the court before which any proceeding under section 4 of this act may be pending that the ends of justice require that other parties should be brought before the court, the 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. 6. Any property owned under any contract or by any combination or pursuant to any conspiracy (and being the subject thereof) mentioned in section 1 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 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 threefold the damages by him sustained and the cost of suit, including a reasonable attorney's fee.

Sec. 8. That the word "person" or "persons" wherever used in this act 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.

UNITED STATES RECLAMATION PROJECTS.

Arizona and California-Yuma..

Estimated Acres recost. claimed. $5,300,000 200,000

California-Sacramento valley*. 20,000,000

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4,000,000

80.000

3,500,000

100,000

1,100,000

18,000

500,000

John Day river

10,000,000

200.000

San Joaquin valley*.

Colorado-Uncompahgre

Idaho-Minidoka

6,000,000 5,200,000 150,000 1,800,000 80,000

200,000

South Dakota-Belle Fourche.

3,000,000

100,000

Utah-Strawberry valley

1,850,000

35,000

Weber*

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Payette, Boise

1,605,000 120,000

Washington-Okanogan

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Dubois*

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Kansas-Garden City

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Montana-Milk river

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Sun river

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Nebraska and Wyoming

North Platte

Nevada-Truckee, Carson

New Mexico-Hondo

Carlsbad

Rio Grande

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10,000 20.000 200,000 15,000 1,500,000 35,000 2,000,000 35,000

2,700,000 60,000

Wapato

Shoshone

Priest rapids*

Wyoming-Goshen Hole*

Total

*Under consideration.

In addition to the above projects are under consideration for reclamations by means of the Colorado river in Colorado. Utah, California and Arizona to cost $40,000,000, and by means of the Walker and Humboldt rivers in Nevada to cost $15,000,000. The total estimated cost of the work completed or under way in 1907 was $50,121,000, and the acreage to be irrigated was 1,598,000.

1,270,000 40,000 MIDSHIPMEN DROWNED IN HAMPTON ROADS.

Six midshipmen, a boatswain and four sailors were drowned shortly after midnight June 11, 1907, in Hampton roads while returning from a visit to the Jamestown exposition. The men were in

a

steam launch and were on their way to the battle ship Minnesota. The launch was upset by running into a steel towing hawser. The midshipmen were recent graduates of the naval academy.

WORK OF THE 59TH CONGRESS--SECOND SESSION.

Session began Dec. 3, 1906; ended March 4, 1907.

Total appropriations, $919,948,679.63. Age disability pension bill passed by senate Jan. 11, 1907; by house Feb. 5, 1907; approved Feb. 6, 1907.

Christopher Columbus memorial bill passed by senete March 3, 1907; by house same date; approved March 4, 1907.

Denatured alcohol bill passed by house Feb 7, 1907; by senate March 1, 1907; approved March 2, 1907.

Expatriation bill passed by house Jan. 21, 1907; by senate March 1, 1907; approved March 2, 1907. (See "Citizenship in the United States.") Foundation for promotion of industrial peace bill passed by senate Feb. 27, 1907; by house March 1, 1907; approved March 2, 1907. Immigration bill passed (at first session) by senate May 23, 1906; by house June 25, 1906; agreed to in conference at second session and approved Feb. 20, 1907.

Philippine agricultural bank bill passed by senate Feb. 25, 1907; by house March 3, 1907; approved March 4, 1907.

Political contributions by corporations bill passed by senate June 9, 1906 (first session); by house Jan. 21, 1907, approved Jan. 26, 1907. Railway employes' sixteen-hours bill passed by senate Jan. 10, 1907; by house Feb. 23, 1907; approved March 4, 1907.

Special delivery stamp bill passed by house Feb. 18, 1907; by senate March 1, 1907; approved March 2, 1907.

Writs of error in criminal cases bill passed by senate Feb. 13, 1907; by house on same date. (For work of first session of 59th congress, see The Daily News Almanac and Year-Book for 1907, page 167.)

SALARIES OF CONGRESSMEN.

On and after March 4, 1907, the compensation of the speaker of the house of representatives, the vice-president of the United States and the heads of executive departments who are members of the president's cabinet shall be at the rate of $12,000 per annum each, and the compensation of senators, representatives in congress, delegates from territories and resident commissioner from Porto Rico shall be at the rate of $7,500 per annum each. (Sec. 4 of the legislative, executive and judicial appropriation bill, approved Feb. 26, 1907.)

SPECIAL DELIVERY STAMPS.

After July 1, 1907, when in addition to the stamps required to transmit any letter or package of mail matter through the mails there shall be attached to the envelope or covering 10 cents' worth of ordinary stamps of any denomination, with the words "special delivery" or their equivalent written or printed on the envelope or covering, the said letter or package shall be delivered in all respects as though it bore a regulation "special delivery" stamp.

CHRISTOPHER COLUMBUS MEMORIAL. There shall be erected in the city of Washington, D. C.. a suitable memorial to Christopher Columbus, for which $100,000 is appropriated. For the purpose of carrying out the provisions of the act a commission, consisting of the chairman of the senate committee on library of the 59th congress, the chairman of the committee on library of the house of representatives of the 59th congress, the secretary of state, the secretary of war and the supreme knight of the Order of the Knights of Columbus. shall be created with full authority to select a site and design and superintend the construction of the memorial.

AGE DISABILITY PENSIONS. Any person who served ninety days or more in the army or navy of the United States in the civil war or sixty days in the war with Mexico, who

has reached the age of 62 years or over, shall be entitled to receive a pension as follows: In case such person has reached the age of 62 years, $12 per month; 70 years, $15; 75 years or over, $20. Rank in service will not be considered in applications filed under this act. Persons now receiving pensions and who are eligible may apply under the new law, but no' person receiving a greater pension under any other law than he would be entitled to under this act shall be pensionable under its provisions. Double pensions are prohibited.

PHILIPPINE AGRICULTURAL BANK.

For the purpose of aiding in the establishment and operation of an agricultural bank in the Philippines, the Fhilippine commission is empowered to guarantee an income of not exceeding 4 per cent per annum upon cash capital invested in it. The guaranty shall be made to a company organized under the laws of the Philippine islands, with its principal offices in Manila. The bank shall not grant loans except to those engaged in agriculture and for the sole purpose of assisting agriculture in the islands. No loan exceeding $5,000 shall be made except upon the written authority of the secretary of finance and justice of the islands. Interest on loans shall not exceed 10 per cent per annum. POLITICAL CONTRIBUTIONS BY CORPORATIONS.

It shall be unlawful for any national bank, or any corporation organized by authority of any laws of congress, to make a money contribution in connection with any election to any political office. It shall also be unlawful for any corporation whatever to make a money contribution in connection with any election at which presidential and vicepresidential electors or a representative in congress is to be voted for or any election by, any state legislature of a United States senator. Every corporation violating this law shall be subject to a fine not exceeding $5,000, and any director or officer of any corporation who shall consent to such contribution shall upon conviction be fined not more than $1,000 nor less than $250, or by imprisonment for not more than one year, or by both fine and imprisonment.

DENATURED ALCOHOL.

Notwithstanding anything contained in the act entitled "An act for the withdrawal from bond tax free of domestic alcohol when rendered unfit for beverage or liquid medicinal uses by mixture with suitable denaturing materials," approved June 7, 1906, domestic alcohol when suitably denatured may be withdrawn from bond without the payment of internal-revenue tax and used in the manufacture of ether and chloroform and other definite chemical substances where the alcohol is changed into some other chemical substance and does not appear in the finished product as alcohol. Rum of not less than 150 degrees proof may be withdrawn for decaturation only in accordance with the provisions of the act of June 7, 1906, and of this act. The act provides for the establishment under the supervision of the commissioner of internal revenue of central denaturing bonded warehouses.

WRITS OF ERROR IN CRIMINAL CASES. A writ of error may be taken by the United States from the District or Circuit courts direct to the Supreme court of the United States in all criminal cases in the following instances:

From a decision or judgment quashing, setting aside or sustaining a demurrer to any indictment or to any count thereof, where such decision or judgment is based upon the invalidity or construction of the statute upon which the indictment is founded.

From a decis:on arresting a judgment of conviction for insufficiency of the indictment, where such decision is based upon the invalidity or construc

THE SHERMAN ANTITRUST LAW.

Passed by the 51st congress Section 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 $5,000 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 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 $5,000 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, ΟΙ between any such territory or territories and any state or states or the District of Columbia or with foreign nations, of 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 $5,000 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 or 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. Such proceedings may be by way of petition setting forth the case and pray

and approved July 2, 1890.

ing that such violation shall be enjoined or otherwise prohibited. When the parties complained of shall have been duly notified of such petition the court shall proceed, as soon as may be, to the hearing and determination 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.

Sec. 5. Whenever it shall appear to the court before which any proceeding under section 4 of this act may be pending that the ends of justice require that other parties should be brought before the court, the 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. 6. Any property owned under any contract or by any combination or pursuant to any conspiracy (and being the subject thereof) mentioned in section 1 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 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 threefold the damages by him sustained and the cost of suit, including a reasonable attorney's fee.

Sec. 8. That the word "person" or "persons" wherever used in this act 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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WORK OF THE 59TH CONGRESS--SECOND SESSION.

Session began Dec. 3, 1906; ended March 4, 1907.

Total appropriations, $919,948,679.63. Age disability pension bill passed by senate Jan. 11, 1907; by house Feb. 5, 1907; approved Feb. 6, 1907.

Christopher Columbus memorial bill passed by senete March 3, 1907; by house same date; approved March 4, 1907.

Denatured alcohol bill passed by house Feb 7, 1907; by senate March 1, 1907; approved March 2, 1907.

Expatriation bill passed by house Jan. 21, 1907; by senate March 1, 1907; approved March 2, 1907. (See "Citizenship in the United States.") Foundation for promotion of industrial peace bill passed by senate Feb. 27, 1907; by house March 1, 1907; approved March 2, 1907. Immigration bill passed (at first session) by senate May 23, 1906; by house June 25, 1906; agreed to in conference at second session and approved Feb. 20, 1907.

Philippine agricultural bank bill passed by senate Feb. 25, 1907; by house March 3, 1907; approved March 4, 1907.

Political contributions by corporations bill passed by senate June 9, 1906 (first session); by house Jan. 21, 1907; approved Jan. 26, 1907. Railway employes' sixteen-hours bill passed by senate Jan. 10, 1907; by house Feb. 23, 1907; approved March 4, 1907.

Special delivery stamp bill passed by house Feb. 18, 1907; by senate March 1, 1907; approved March 2, 1907.

Writs of error in criminal cases bill passed by senate Feb. 13. 1907; by house on same date. (For work of first session of 59th congress, see The Daily News Almanac and Year-Book for 1907, page 167.)

SALARIES OF CONGRESSMEN.

On and after March 4, 1907, the compensation of the speaker of the house of representatives, the vice-president of the United States and the heads of executive departments who are members of the president's cabinet shall be at the rate of $12,000 per annum each, and the compensation of senators, representatives in congress, delegates from territories and resident commissioner from Porto Rico shall be at the rate of $7,500 per annum each. (Sec. 4 of the legislative, executive and judicial appropriation bill, approved Feb. 26, 1907.)

SPECIAL DELIVERY STAMPS.

After July 1, 1907, when in addition to the stamps required to transmit any letter or package of mail matter through the mails there shall be attached to the envelope or covering 10 cents' worth of ordinary stamps of any denomination, with the words "special delivery" or their equivalent written or printed on the envelope or covering, the said letter or package shall be delivered in all respects as though it bore a regulation "special delivery" stamp.

CHRISTOPHER COLUMBUS MEMORIAL.

There shall be erected in the city of Washington, D. C.. a suitable memorial to Christopher Columbus, for which $100,000 is appropriated. For the purpose of carrying out the provisions of the act a commission, consisting of the chairman of the senate committee on library of the 59th congress, the chairman of the committee on library of the house of representatives of the 59th congress, the secretary of state, the secretary of war and the supreme knight of the Order of the Knights of Columbus, shall be created with full authority to select a site and design and superintend the construction of the memorial.

AGE DISABILITY PENSIONS.

Any person who served ninety days or more in the army or navy of the United States in the civil war or sixty days in the war with Mexico, who

has reached the age of 62 years or over, shall be entitled to receive a pension as follows: In case such person has reached the age of 62 years, $12 per month; 70 years, $15; 75 years or over, $20. Rank in service will not be considered in applications filed under this act. Persons now receiving pensions and who are eligible may apply under the new law, but no' person receiving a greater pension under any other law than he would be entitled to under this act shall be pensionable under its provisions. Double pensions are prohibited.

PHILIPPINE AGRICULTURAL BANK.

For the purpose of aiding in the establishment and operation of an agricultural bank in the Philippines, the Fhilippine commission is empowered to guarantee an income of not exceeding 4 per cent per annum upon cash capital invested in it. The guaranty shall be made to a company organized under the laws of the Philippine islands, with its principal offices in Manila. The bank shall not grant loans except to those engaged in agriculture and for the sole purpose of assisting agriculture in the islands. No loan exceeding $5,000 shall be made except upon the written authority of the secretary of finance and justice of the islands. Interest on loans shall not exceed 10 per cent per annum.

POLITICAL CONTRIBUTIONS BY CORPORATIONS.

It shall be unlawful for any national bank, or any corporation organized by authority of any laws of congress, to make a money contribution in connection with any election to any political office. It shall also be unlawful for any corporation whatever to make a money contribution in connection with any election at which presidential and vicepresidential electors or a representative in congress is to be voted for or any election by any state legislature of a United States senator. Every corporation violating this law shall be subject to a fine not exceeding $5,000, and any director or officer of any corporation who shall consent to such contribution shall upon conviction be fined not more than $1,000 nor less than $250, or by imprisonment for not more than one year, or by both fine and imprisonment.

DENATURED ALCOHOL.

Notwithstanding anything contained in the act entitled "An act for the withdrawal from bond tax free of domestic alcohol when rendered unfit for beverage or liquid medicinal uses by mixture with suitable denaturing materials," approved June 7, 1906, domestic alcohol when suitably denatured may be withdrawn from bond without the payment of internal-revenue tax and used in the manufacture of ether and chloroform and other definite chemical substances where the alcohol is changed into some other chemical substance and does not appear in the finished product as alcohol. Rum of not less than 150 degrees proof may be withdrawn for decaturation only in accordance with the provisions of the act of June 7, 1906, and of this act. The act provides for the establishment under the supervision of the commissioner of internal revenue of central denaturing bonded warehouses.

WRITS OF ERROR IN CRIMINAL CASES. A writ of error may be taken by the United States from the District or Circuit courts direct to the Supreme court of the United States in all criminal cases in the following instances:

From a decision or judgment quashing, setting aside or sustaining a demurrer to any indictment or to any count thereof, where such decision or judgment is based upon the invalidity or construction of the statute upon which the indictment is founded.

From a decis:on arresting a judgment of conviction for insufficiency of the indictment, where such decision is based upon the invalidity or construc

tion of the statute upon which the indictment is founded.

From the decision or judgment sustaining a special plea in bar, when the defendant has not been put in jeopardy.

The writ of error in all such cases shall be taken within thirty days and shall have precedence over all other cases. No such writ of error shall be allowed the United States where there has been a verdict in favor of the defendant.

HOURS OF WORK FOR RAILWAY EMPLOYES.

It shall be unlawful for any common carrier in any territory or the District of Columbia, or engaged in interstate commerce, to require or permit 'any employe to remain on duty longer than sixteen consecutive hours, and whenever he shall have been on duty for that length of time he shall be relieved and not be permitted to resume work until he has had at least ten consecutive hours off duty; and no such employe who has been on duty sixteen hours in the aggregate in any twenty-four-hour period shall be allowed again to go on duty without having had at least eight consecutive hours off duty. No operator, train dispatcher or other employe who by the use of the telegraph dispatches, reports, transmits, receives or delivers orders pertaining to the movements of trains shall be permitted to remain on duty more than nine hours in any twenty-four-hour period in towers, offices and stations operated night and day, nor more than thirteen hours in places operated only in the daytime, except that in cases of emergency employes may remain on duty for four additional hours in the twenty-four on not exceeding three days in any week. The provisions in the act shall not apply in any case of unavoidable accident nor to the crews of wrecking or relief trains. The penalty for each violation of the law is a fine of not exceeding $500.

FOUNDATION FOR THE PROMOTION OF INDUSTRIAL PEACE.

Trustees-Chief Justice Melville W. Fuller, president; Seth Low of New York, representing the general public, treasurer: John Mitchell of the United Mine Workers of America, representing labor, secretary; Thomas G. Bush of Birmingham, Ala., representing general public; Marvin A. Hughitt, representing capital, and Secretaries James Wilson and Oscar Solomon Straus. Industrial Peace Committee-Archbishop John Ireland, Marcus M. Marks of New York, Ralph M. Easley of New York, Elbert H. Gary, chairman finance committee United States Steel Corporation; Lucius Tuttle, president of Boston & Maine railroad; J. Gunby Jordan of Columbus, Ga.; Samuel Gompers, president of the American Federation of Labor: Daniel Keefe, president of the Longshoremen's association, and Warren S. Stone, president International Brotherhood of Locomotive Engineers.

The origin and purpose of the "Foundation for the Promotion of Industrial Peace" are fully shown in the following bill passed by congress March 2, 1907:

Whereas, Alfred Bernard Nobel of the city of Stockholm, in the kingdom of Sweden, having by his last will and testament provided that the residue of his estate shall constitute a fund the income from which shall be annually awarded in prizes to those persons who have during the year contributed most materially to benefit mankind, and having further provided that one share of said income shall be awarded to the person who shall have most or best promoted the fraternity of nations and the abolishment or diminution of standing armies and the formation and increase of peace congresses; and,

Whereas, the Norwegian parliament having, under the terms of said foundation, elected a committee for the distribution of the peace prize, and this committee having in the year 1906 awarded the aforesaid prize to Theedore Roosevelt, president of the United States, for his services in behalf of the peace of the world; and,

Whereas, the president desiring that this award shall form the nucleus of a fund the income of which shall be expended for bringing together in conference at the city of Washington, especially during the sessions of congress, representatives of labor and capital for the purpose of discussing industrial problems, with the view of arriving at a better understanding between employers and employes, and thus promoting industrial peace; therefore,

Be it enacted, etc., That the chief justice of the United States, the secretary of agriculture, and the secretary of commerce and labor, and their successors in office, together with a representative of labor and a representative of capital and two persons to represent the general public, to be appointed by the president of the United States, are hereby created trustees of an establishment by the name of the Foundation for the Promotion of Industrial Peace, with authority to receive the Nobel peace prize awarded to the president and by him devoted to this foundation, and to administer it in accordance with the purposes herein defined. Any vacancies occurring in the number of trustees shall be filled in like manner by appointment by the president of the United States.

Sec. 2. That it shall be the duty of the trustees herein mentioned to invest and reinvest the principal of this foundation, to receive any additions which may come to it by gift, bequest, or devise, and to invest and reinvest the same; and to pay over the income from the foundation and its additions, or such part thereof as they may from time to time apportion, to a committee of nine persons, to be known as "the industrial peace committee,' to be selected by the trustees, three members of which committee shall serve for the period of one year, three members for the period of two years, and three members for the period of three years; three members of this committee to be representatives of labor, three to be representatives of capital, each chosen for distinguished services in the industrial world in promoting righteous industrial peace, and three members to represent the general public. Any vacancies which may occur in this committee shall be filled by selection and appointment in the manner prescribed for the original appointment of the committee, and when the committee has first been fully selected and appointed each member thereafter appointed shall serve for a period of three years or the unexpired portion of such term.

Sec. 3. That the industrial peace committee herein constituted shall arrange for an annual conference in the city of Washington, D. C., of representatives of labor and capital for the purpose of discussing industrial problems, with the view of arriving at a better understanding between employers and employes; it shall call special conferences in case of great industrial crises and at such other times as may be deemed advisable, and take such other steps as in its discretion will promote the general purposes of the foundation; subject, however, to such rules and regulations as may be prescribed by the trustees. The committee shall receive suggestions for the subjects to be discussed at the annual or other conferences and be charged with the conduct of the proceedings at such conferences. The committee shall also arrange for the publication of the results of the annual and special conferences.

Sec. 4. That all expenditures authorized by the trustees shall be paid exclusively from the accrued income and not from the principal of the foundation.

Sec. 5. That the trustees herein named are authorized to hold real and personal estate in the District of Columbia to an amount not exceeding $3,000,000, and to use, and dispose of the same for the purposes of this foundation.

Sec. G. That the principal office of the foundation shall be located in the District of Columbia, but offices may be maintained and meetings of the trustees and committees may be held in other places, to be provided for in by-laws to be adopted from time to time by the trustees, for the proper execution of the purposes of the foundation.

Sec. 7. That the Foundation for the Promotion of Industrial Peace is hereby authorized and empowered, at its discretion, to co-operate with any

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