Word: alcoa
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Dates: during 1940-1949
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...publicity-hating brother, Edward K. Davis, 64, president of Canada's Aluminium, Ltd., was on the stand for six weeks, while Government lawyers tried to prove that Aluminium, Ltd. was the corporate stooge of Alcoa and its link with the international aluminum cartel. All told, the Government and the defense filled 58,000 pages with testimony of these and other witnesses, brought 1,803 exhibits into court. Then, in 1940, the Government and the defense rested...
...Defense Plant Corp. went ahead and built $500,000,000 in aluminum plants, soon became owner of 52% of the aluminum-making capacity of the U.S. Last week, the court found that the diligence of the trustbusters had been overmatched by the diligence of OPC, concluded that, while Alcoa Lad been a monopoly, there is no reason to suppose that Alcoa now has a monopoly or will have one after...
Victory for Antitrust; The decision, written by liberal Judge Learned Hand, reversed Manhattan's famed ad-libbing judge, Francis Gordon Caffey. Back in 1941 Judge Caffey, who had heard the testimony and arguments, cleared Alcoa of all the Government's charges. It took him ten days to deliver his opinion, took stenographers 737 pages to set it down...
...last week's opinion, there was still some comfort for Alcoa and Judge Caffey. The court found no proof that: 1) Alcoa had monopolized bauxite deposits or waterpower sites; or 2) Alcoa and Aluminium, Ltd., had any corporate relationship, even though the Mellon family and Alfred Vining Davis owned a controlling interest in both...
Besides a moral victory, the Government had little more to cheer about. Alcoa had at one time, the court found, tried to freeze out competing aluminum-sheet plants by charging more than a "fair price" for ingots. And Aluminium, Ltd. had also entered an illegal cartel, through the Alliance of Aluminium Cie. of Switzerland, which restricted imports of aluminum into...