Word: antitrust
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Stainless? The Department of Justice announced that 18 makers of stainless steel-roughly the U.S. steel industry- had consented to a decree in an antitrust suit that banned them from fixing prices and "employing other restraints of trade." The steelmen said that, as they had already conformed with most of the provisions, they saw no reason to bring the case to trial...
Mason's FTC colleagues take a dim view of his contention that FTC, instead of enforcing the antitrust laws, should "educate" business by telling trade associations how they should police their own houses. Mason argues tirelessly that it is "unfair" to prosecute one company while others are permitted to get away with the same thing. Grumbled one colleague: "I expect him to set that to music...
Trust-Busted. In a federal court in Manhattan, the Department of Justice won a skirmish in its antitrust battle (TIME, Oct. 4). Eight of the biggest U.S. tiremakers* and the Rubber Manufacturers' Association, all charged with conspiring to fix prices and discounts, were fined a total...
...made a few specific promises: an increased minimum wage, broadened and increased social-security benefits, a strengthened Department of Labor, vigorous antitrust enforcement, action to "break the log jam in housing" and to halt "soaring prices." But he left labor still wondering what Taft-Hartley changes, if any, he would propose. Said Dewey: "The new law is not perfect. No law, or any other human handiwork is perfect. It can always be improved and wherever and whenever it needs change it will be changed...
Tungsten Cartel. A federal district court found General Electric, two of its subsidiaries, and three of their officials guilty in an antitrust suit of conspiring with Germany's Krupp between 1927 and 1940 to monopolize world trade in tungsten and other hard metals. G.E., planning an appeal, claimed that "the law applicable to situations of this kind is in a state of utter chaos...