Word: antitrust
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...from Attorney General Tom Clark's office last week went some long-awaited "big news." The news was that the antitrust division of the Department of Justice, with an election-year ear tuned to the static made by high meat prices, was going after the "meat monopoly...
...facts are presented." The packers thought that Clark would have trouble making his charges stick. Eleven times in 50 years the Government had sued the big packers; it had won only twice. A year ago a federal grand jury in Chicago failed to indict the packers on an antitrust conspiracy after an investigation requested by Clark...
After an eight-year court battle with the antitrust division, the American Optical Co. and Bausch & Lomb Optical Co., makers of eyeglasses and frames, and 34 other companies gave in last week. They agreed to stop practices which the Justice Department considered monopolistic and illegal. They also agreed to license their patents to other manufacturers, promised not to enter into any price-fixing agreements, acquire no further wholesale subsidiaries for the next ten years...
...Antitrust Suits. The Department of Justice's Antitrust Division filed suit against the Far East Conference and its members-six big U.S. shipping lines and 19 foreign lines. The charge: conspiring to monopolize trade between Atlantic Coast ports and the Far East by setting higher rates for customers who did not give them all their business. In another suit, it accused Decca Records, Inc. and its British counterpart, Decca Record Co., Ltd , of trying to divide world markets by "conspiracy and cartel agreements" in violation of the antitrust laws...
...been reconnoitering deep in the territory of Bank of America and Giannini's holding company, Transamerica Corp. (which also controls 40 smaller banks, owns stock in dozens of industrial and insurance companies). Guided by their reports, FRB last week swung its sling. Under a section of the Clayton Antitrust Act that has never been used before, it quietly issued a stern order to Transamerica: show cause why FRB should not order it to end certain "monopolistic" practices. (Transamerica must answer the charges at a closed hearing in November, may appeal FRB's decision to the courts...