Word: antitrust
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...anti-trust action against Aluminum Co., June 9 against Ethyl Gasoline Corp., and announced a new publicity policy in connection with anti-trust investigation. Businessmen have wished Attorney General Homer Stille Cummings and his department would tell them in advance what they were allowed to do under the antitrust laws. Mr. Cummings last week said that henceforth he would issue frequent statements covering: 1) conditions in an industry which he thinks are in restraint of trade; 2) economic results he hopes to get from an anti-trust proceeding; 3) reason he chose a particular procedure-such as criminal prosecution, civil...
...probe. And Texas' Representative William Doddridge McFarlane renewed in the House his ten-month-old demand for a radio monopoly investigation. He freshened up his act by charging that two unnamed former U. S. Senators had taken bribes. Mr. McFarlane wants to reopen an old antitrust suit against the Bell System and RCA and its subsidiaries. The suit was settled by 1932 amendment of the companies' wire service and radio manufacturing agreements...
...Aboard the Presidential special from Atlanta to Washington, were Solicitor General Robert Jackson, National Power Policy Committee Counsel Benjamin Cohen. Said Mr. Jackson, when asked if his presence indicated discussions of antitrust laws: "I don't think you would be out on a limb on that...
Last week the Alcoa investigation blossomed out as the biggest corporate antitrust case since the dissolution of old Standard Oil in 1911. In a Federal District Court in Manhattan the Attorney General not only requested perpetual injunctions to restrain Alcoa, its, officers, directors, principal stockholders and subsidiaries from monopolizing or attempting to monopolize the U. S. aluminum industry; Mr. Cummings also asked that Aluminum Co. of America forthwith "be dissolved and its properties be rearranged under several separate and independent corporations." Despite the fact that dissolution of the Standard Oil Trust touched off an historic boom in the shares...
Round No. 1 was Radio's when it persuaded the Federal-Government to charge the American Society of Composers, Authors & Publishers with violation of the Sherman Antitrust Law (TIME, Sept. 10). Round No. 2 came in November when ASCAP countered with a driving defense, filed in behalf of its 1,015 songwriters and publishers. For the use of its members' music ASCAP now demands a 5% share of broadcasters' net receipts. Radio claims that it would be starved without the millions of songs which ASCAP controls. But Radio objects to ASCAP's price...