Word: antitrust
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...that they cannot sell fuel to smaller concerns because they need all their reserves to supply their own customers. Democratic Congressman Neal Smith of Iowa charges that the giants are trying to freeze out the small firms, and has called on the Justice Department to investigate possible breaches of antitrust laws...
...First National Bank of Greeley, Colo. The Justice Department is opposing the purchase. It argues that by buying an existing bank instead of starting one, the holding company offers customers no new choice and could eliminate "potential competition" at some later date. The lower courts have ruled that present antitrust legislation covers only actual competition, and found against Justice. If the Supreme Court upholds the earlier decisions, Representative Wright Patman of Texas, the scourge of big banks, intends to get at them in Congress. He plans a bill making the test of "potential competition" mandatory in all bank mergers that...
...These institutions, especially in Tennessee, Missouri, North Carolina, Florida and Texas, have gained strong positions in their areas, largely through shrewd acquisitions by their holding companies of independent banks and mortgage companies. Unlike the $20 billion giants, the medium-sized regional banks are small enough to avoid antitrust litigation, yet big enough to provide sound management and a wide array of services for people who want to borrow, save or invest money...
...Pacific Telephone & Telegraph Co., sent letters to eleven stores asserting that they were violating phone-use rules by improperly advertising the device. Last month Mercer filed suit in federal district court in Los Angeles, charging that A T & T, General Telephone & Electronics Corp. and 41 of their subsidiaries violated antitrust laws by attempting to use Federal Communications Commission regulations to force the Name Caller off the market. The suit also contends that the telephone companies threatened to suspend the phone service of retailers if they continued to sell the device. Indeed, the telephone companies can legally shut off service...
...famous cases I have judged." The occasional jokes that lighten the sessions tend to be a bit lawyerly. "For instance," explains a Justice, "somebody might say in the middle of a rape-case discussion, 'I think the central question here is the same problem we faced in that antitrust case a few minutes ago: Was there consent?' It doesn't seem too funny now, but it gets a big laugh at the time...