Word: antitrust
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...news for Bessie was publicly delivered by Attorney General Herbert Brownell.* After careful consideration, said Brownell, "we concluded that the merger . . . would be in violation of the antitrust laws," specifically a 1950 amendment to the Clayton Act prohibiting mergers that might tend to reduce competition. At the news, stocks of both companies, which had been hopping up on merger prospects, slipped. Bethlehem dropped 1¼ to 77¼; Youngstown closed...
Article of Faith. The Bethlehem-Youngstown merger decision was the latest example of how Barnes has applied the antitrust lawyers "a nonpartisan article of faith." While many a Democratic skeptic expected the Republican Administration to be an easy taskmaster to businessmen, Barnes has proved to be quite the opposite. He inherited 136 antitrust cases from the previous Administration, so far has disposed of 76 (only ten by dismissal). Barnes's favorite technique is to reach consent decrees with antitrust offenders (38 to date), thus avoiding long and costly court fights...
...always 15 to 20 under consideration. Ea.ch case now pending before his department will be judged solely on its merits. Furthermore, a committee of 60 top-flight legal and financial experts, appointed in August 1953 by Attorney General Brownell, will report in December on an exhaustive study of antitrust laws that may result in broad changes in antitrust interpretation. Says Stanley Barnes: "We are not afraid to step on people's toes when necessary. But our policy tries to play fair with all comers...
FAIR TRADE LAW REPEAL may be recommended by Attorney General Herbert Brownell's committee on antitrust laws and enforcement. After a year's study, the committee of 60 lawyers, businessmen and industrialists is expected to deliver a highly critical report on the 1952 McGuire Fair Trade Act, which sanctioned price-fixing between manufacturers and retailers...
LATEST STEEL merger may be blocked by the U.S. Justice Department. Worried that the combine of second-place Bethlehem Steel Corp. (after U.S. Steel) and sixth-place Youngstown Sheet & Tube Co. might restrict competition, Antitrust Chief Stanley Barnes is holding up approval, may carry his problem to President Eisenhower...