Word: antitrust
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...pipe will be made by U.S. Steel Corp. and Consolidated Steel, which it recently arranged to buy (TIME, Dec. 30). The purchase was held up at least temporarily last week by U.S. Attorney General Tom Clark, who ruled that it was in violation of antitrust laws. U.S. Steel will produce the steel-an estimated 300,000 tons-at its Geneva plant. Consolidated will fabricate it in Los Angeles, start delivering it by year...
...Wondering." While Stefan pondered, visitors to the Senate's Civil Service Committee room observed a bit of drama. Before the committee appeared solemn little Assistant Attorney General Wendell Berge, asking for an extra $600,000 for the Department of Justice's Antitrust Division. Mr. Berge was quite miserable...
Wild Senator William Langer, the committee chairman, was in a cigar-crunching mood. He wanted to know how many business monopolists Berge's Antitrusters had put in jail. "None," said Berge. "I'm wondering if there is any justification for having your department at all under the present management," said Senator Edward J. Thye. When Berge protested that it was not "the policy of the department to seek jail sentences," Langer exploded that "the [antitrust] law has been on the books 57 years come next July and they haven't enforced...
...Government filed a criminal information under the Commodities Exchange Act, charging the league and four of its topmost officers with illegally manipulating a commodity in interstate commerce. Maximum penalty: a $10,000 fine and one year in jail. To boot, the Department of Justice was making an antitrust investigation of the butter collapse, and the Department of Agriculture was considering a move to cut the January milk prices...
Above all, said Sloan, the principles of the Sherman Antitrust law must be applied to unions. The jurisdiction of any one union must be limited so that "the public interest is not substantially prejudiced by strikes." This, said Sloan, can be done either by 1) dissolving existing unions into smaller parts, or 2) restricting the number of plants in any one industry which may be struck at once...