Word: alcoa
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Dates: during 1930-1939
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...only perpetually enjoined from monopolistic practices but also that it be dissolved into several independent corporations (TIME, May 3), the nation confidently expected to see a great drama played, on & off stage, by three notable citizens. One was old Andrew William Mellon, who is supposed to dominate Alcoa's affairs. Another was Homer Stille Cummings, an unsuccessful legal opponent of Alcoa long before he became Franklin Roosevelt's Attorney General. The third was Mr. Cummings' brilliant young assistant, Robert H. Jackson, who argued the Government's still pending income tax case against Mr. Mellon...
...corporate anti-trust case since the dissolution of old Standard Oil in 1911. The distinguished kibitzer was Pittsburgh's Federal District Judge Robert Murray Gibson, 67, and his surprise move was to issue a temporary order restraining Attorney General Cummings and his subordinates from pursuing their action against Alcoa. In their petition for the order, Aluminum Co. attorneys had asserted that: 1) the Attorney General should have sued the company in Pittsburgh where its head offices are," instead of in Manhattan; 2) the charges were the same as those brought in a 1912 suit against the company, tried...
...cynics suspected Messrs. Cummings, Jackson & Co. of personal animus in initiating the Alcoa suit, New Deal partisans now equally wondered whether a "Mellon judge" was cracking back at them. White-haired, erudite Judge Gibson was appointed to the bench by President Harding 16 months after Mr. Mellon became Harding's Secretary of the Treasury. His son-in-law, William H. Eckert, is a member of the law firm of Smith, Buchanan, Scott & Ingersoll, Aluminum Co. attorneys. But in Pittsburgh it is a rare Republican, Presbyterian and substantial citizen who does not have at least one son-in-law connected...
...complaint, however, the Government went far beyond allegations of monopoly and restraint of trade in the U. S., charging Alcoa with virtually rigging the entire world market, through its interests or the interests of its affiliates in foreign aluminum. Motive for this was alleged to be the company's desire to keep foreign prices high enough to discourage invasion of its U. S. preserve. Fifty years ago aluminum sold for $8 per Ib. Today it is 20?. Singled out by Attorney General Cummings was the fact that Alcoa hiked the price 1? last March just about the time...
...When the late James B. Duke started to sink some of his tobacco millions into aluminum, 'Alcoa bought him out, the suspicion remaining that Mr. Duke was well aware of his potential nuisance value to Alcoa from the start...