Word: antitrusters
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Dates: during 1940-1949
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...what the dissenting minority called "the most important antitrust case which has been before the court in years," the U.S. Supreme Court last week assayed the question. By a 5-to-4 vote it turned down the Justice Department Antitrust Division's attempt to prevent the sale of Los Angeles' Consolidated Steel Corp. to Columbia Steel Co., a subsidiary of U.S. Steel...
...sale (for $8,293,319) would give Big Steel, which already has well over 51% of Pacific Coast ingot capacity, the lion's share of the fabricating capacity as well. This, said Justice Stanley Reed, who wrote the majority opinion, would in no way violate the Sherman Antitrust Act. "Size has significance ... in an appraisal of alleged violations," he conceded, "but the steel industry .is also of impressive size, and the welcome westward extension of that industry requires that the existing companies go into production there, or abandon that market to other organizations...
Another important Antitrust case went the other way last week. The case involved "exclusive dealer contracts" between Standard Oil Co. of California and some 7,000 independent gas stations, binding the dealers to sell only products made or sponsored by the oil company...
District Court in Los Angeles agreed with the Antitrust Division that the contracts were in restraint of trade and should be canceled...
Since many U.S. oil companies have similar contracts, Antitrust predicted that the decision, if upheld by the U.S. Supreme Court, would force a reorganization of the oil industry's entire marketing setup...