Word: antitrust
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...last week than who would play second base. Three black-robed U.S. Court of Appeals judges, sitting in as umpires on a $300,000 damage suit, prepared to call a play that could really hurt. In effect, baseball was told that its player contracts might be violating the U.S. antitrust laws and making "peons" out of professional ballplayers at the same time. Since baseball had been writing the same kind of contract for two generations, it was a little like being told, after years of married life, that the wedding wasn't legal after...
...Supreme Court had ruled that baseball was not engaged in interstate commerce, and therefore was out of the reach of antitrust laws. But now baseball was raking in big money from radio and television. Did that make the game interstate commerce? The appeals court wanted the lower court to settle that...
Last week, in FRB's Washington hearing room, Giannini and Eccles met face to face. In the first use of its antitrust powers in 34 years, FRB was out to prove Transamerica a monopoly. To the witness stand went Eccles. He had disqualified himself as a judge in the case, only to find that as far as Giannini was concerned, it was Eccles who was on trial...
...Department of Justice last week fired its antitrust guns at the biggest target of all. In a federal district court in Newark, N.J., it charged American Telephone & Telegraph Co., biggest U.S. industrial corporation (gauged by its $5 billion in assets) and its manufacturing subsidiary, Western Electric Co., Inc., with "conspiracy to monopolize" the U.S. telephone business. The Government's attack, in preparation for more than a year, was no surprise. But not even A.T. & T. expected such a blanket barrage...
Wrong Decision? U.S. Rubber Co., which had just been fined $5,000 for conspiring to fix prices at home (TIME, Nov. 1), was in trouble again for its doings in the international market. Attorney General Tom Clark filed an antitrust suit against U.S. Rubber, its British subsidiary, Consolidated Rubber Manufacturers Ltd., and British Dunlop Rubber Co. Ltd. The charge: that the three companies had divided up the world rubber market, and prevented the unlimited flow of rubber products into...