Word: alcoa
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Dates: during 1940-1949
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...Alcoa. In Philadelphia, shortage-harassed metalmen tried to key their Metal Show to the dear unborn days when they can turn from production to sales. Biggest display was by Aluminum Co. of America, now so pressed for production that most of its exhibits were small pieces of aluminum finishes, not actual finished products...
...Alcoa is more than conscious of the fact that U.S. aluminum capacity will soon be six times what it was in 1939, and that one-third of it will belong to new competitors and the U.S. Government. Alcoa's own capacity will be at least 1,100,000,000 Ib. a year, instead of pre-war 327,000,000 Ib. Some 70% of its output is going into aircraft (less than 30% was so used in 1939) and Alcoa knows that won't last...
Having already cleared Aluminum Co. of America of maintaining an illegal monopoly (TIME, Oct. 13), Federal Judge Francis Gordon Caffey last week wiped Alcoa's slate clean of the other Government charges of conspiracy and miscellaneous misconduct. With his marathon ad lib decision completed-it took him ten days to dictate it in open court, covered 680 pages -the longest (April 1937 to last week) lawsuit in U.S. history was over. The 72-year-old judge swiftly left Manhattan for a six-week vacation in Maine...
...Alcoa officials listened modestly to Judge Caffey's praise of their chairman, Arthur V. Davis ("he has contributed more to [Alcoa's] advancement than any man alive"), beamed when he concluded: "It would be greatly contrary to the public interest to dissolve or enjoin Alcoa...
...Government lawyers fared no better in the second week of the decision than in the first. Their claims that Alcoa was party (through Aluminium Ltd.) to an international cartel, had conspired to fix prices, divide markets, keep competitors from entering the field, and restrict imports were all rejected (although certain to be aired again before the Supreme Court). "Not only has the Government failed to establish the charge," said Judge Caffey, "but the evidence is convincing the other way." Because of uncertainties about materials available, automakers last week put a brand-new phrase in their ads: "Specifications subject to change...