Word: antitrust
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Dates: during 1950-1959
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Twenty Powers. The 20 sections of the bill would empower the President to set up Government corporations, install priorities and allocations for industrial materials, seize factories, suspend antitrust laws (to facilitate production pools), freeze wages and prices, set up job controls and provide for censorship of communications (telephone, telegraph and the mail, but not U.S. publications). It would also broaden Selective Service to require registration of all males between 18 and 46 and put a clamp on excess profits...
...antitrust suit against Tranasmerica Corp., world's biggest bank holding company, the Federal Reserve Board found the going rough. After 107 days of hearings it was still taking testimony trying to prove its case. Last week Transamerica President Sam H. Husbands, onetime RFC director, and Lawrence Mario Gianmni, the frail, shrewd president of the Bank of America, got together on a deal that did not make FRB's job any easier...
...Louisiana federal court, the Department of Justice filed a civil antitrust suit against the two Nicholson newspapers, Publisher Nicholson and three top executives. Specifically, the Times-Pic and the States were accused of unfairly attempting to eliminate their only competitor by 1) forcing advertisers to buy space in both Nicholson papers at a special combined rate, 2) giving advertisers unreasonably low rates in the States based on their ad volume in the Times-Pic, 3) persuading newsstands to stop selling the Item by threatening to withdraw the Times-Pic and the States. Publisher Nicholson's only comment...
Same day, in Philadelphia's federal district court, Antitrust Chief Herbert Bergson went after a small company which had closely held patents: Servel, Inc., sole maker of U.S. gas refrigerators. Charged Bergson: Servel has a monopoly on gas refrigerators, through exclusive licenses from Sweden's Aktiebolaget Electrolux, founded by International Financier Axel Wenner-Gren (TIME, Jan. 5, 1948). Bergson asked the court to break up the patent arrangement. Servel's Chairman Louis Ruthenburg retorted that his company already competed with "a dozen large manufacturers aggressively in the market with refrigerators of all types, sizes and prices...
...Fresh Appraisal. Bergson had gone after small companies before (e.g., part of Philadelphia's live fish industry). But his major strategy had caused even such Administration stalwarts as Secretary of Commerce Charles Sawyer to worry, with Charlie Wilson and other businessmen, about the effect of antitrust's attacks on the U.S. economy. As chairman of a Cabinet-level committee which includes the Attorney General and the Federal Trade Commission chairman, Sawyer had sought for months to "clarify" vague antitrust procedures', so far with little success...