Word: antitrust
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...boil over two decisions (see below), both written by new Justice William J. Brennan and handed down last week. In holding that the Du Pont Co.'s ownership of 23% of the stock of General Motors constitutes an illegal monopoly, the Supreme Court stretched the Clayton Antitrust Act so far that even Government trustbusters gasped. In ordering that specific FBI reports be turned directly over to the defense in a new trial for Unionist Clinton Jencks, who had been convicted of falsely swearing that he was not a Communist, the Supreme Court happily surprised the defense and shocked...
...other cases. In a Rome (Ga.) rape trial (which came under federal jurisdiction because the alleged crime took place in a national park), the U.S. turned over to the defense presumably relevant excerpts from witnesses' pre-trial statements to the FBI. But in an Erie, Pa. antitrust action, the Government tried for much the same solution-and was ordered by the trial judge to hand over its complete reports, kit and caboodle. Result: the U.S. canceled the appearance of three FBI agents as witnesses...
...stock for 30 years, although what the law specifically forbids is "acquisition." In previous cases Section 7 had been applied soon after the acquisition, and many a lawyer agreed with Burton that by applying it 30 years after the fact, the court had opened up a new field of antitrust prosecutions (see BUSINESS). "Over 40 years after the enactment of the Clayton Act," wrote Burton, "it now becomes apparent for the first time that Section 7 has been a sleeping giant all along. Every corporation which has acquired a stock interest [in a customer or supplier since 1914] is exposed...
When Defense Mobilizer Gordon Gray granted Idaho Power Co. a fast tax write-off on two Snake River dams (TIME, May 13), he handed public powermen and the Democrats a political grenade. Last week Democratic Senator Estes Kefauver's antitrust and monopoly subcommittee pulled...
...decision, the court ruled that Du Pont's 23 per cent stock interest in GM violates the Clayton Antitrust...