HEARINGS BEFORE A SUBCOMMITTEE OF THE COMMITTEE ON THE JUDICIARY SEVENTY-FIFTH CONGRESS FIRST SESSION ON S. 10 A BILL TO REGULATE INTERSTATE AND FOREIGN COM- TRADE COMMISSION, TO ASSIST THE LABOR CONDITIONS AND ENLARG ING PURCHASING POWER FOR 121861 PART 3 APRIL 27 AND MAY 13, 1937 Printed for the use of the Committee on the Judiciary UNITED STATES GOVERNMENT PRINTING OFFICE WASHINGTON: 1937 COMMITTEE ON THE JUDICIARY HENRY F. ASHURST, Arizona, Chairman WILLIAM H. KING, Utah M. M. NEELY, West Virginia WILLIAM H. DIETERICH, Illinois EDWARD R. BURKE, Nebraska TOM CONNALLY, Texas JOSEPH C. O'MAHONEY, Wyoming JAMES H. HUGHES, Delaware II WILLIAM E. BORAH, Idaho GEORGE W. NORRIS, Nebraska WARREN R. AUSTIN, Vermont FREDERICK STEIWER, Oregon FEDERAL LICENSING OF CORPORATIONS TUESDAY, APRIL 27, 1937 UNITED STATES SENATE, SUBCOMMITTEE OF THE COMMITTEE ON THE JUDICIARY, Washington, D. C. The committee met, pursuant to the call of the chairman, at 2:30 p. m., in the committee room, Capitol, Senator Joseph C. O'Mahoney (chairman of subcommittee) presiding. Present: Senators O'Mahoney (chairman), Hatch, and Austin. STATEMENT OF PROF. WILLIAM Z. RIPLEY, PROFESSOR OF ECONOMICS, HARVARD UNIVERSITY Senator O'MAHONEY. Professor Ripley, three of the members of the subcommittee are present, and we are prepared to proceed and hear your statement. I might say to the members of the subcommittee that Professor Ripley is the author, among other books, of Main Street and Wall Street, and other well-known books. Professor, will you be good enough to make a statement for the record? You are a member of the faculty of Harvard University, are you not? Professor RIPLEY. Since 1900. Senator O'MAHONEY. What positions have you held? Professor RIPLEY. Professor of economics. I served for a number of years on Government commissions, first the United States Industrial Commission in 1900. Then, I served for the Federal EightHour Commission in 1916. I conducted a case on the Pittsburghplus system with two other men under the Federal Trade Commission. During the war I was Administrator of Labor Standards in the War Department; and for 2 years after that I was chairman of what was called the National Adjustment Commission, named to adjudicate their differences by the Shipping Board, shipowners, and longshoremen. In 1921 the Interstate Commerce Commission put me for 2 years at a plan for consolidation of railroads, under the act through which the railroads were turned back by the United States to the owners. For 17 years I was a member of the board of directors of the Rock Island Railroad, and most of that time on the executive committee, after the old speculative management had been run out in 1916. I resigned sometime before it went into bankruptcy. Senator O'MAHONEY. You have given a good deal of your time, have you not, to the study of organization and operation of interstate corporations? I mean corporations engaged in commerce among the States. |