Word: antitrusters
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...imports are cut voluntarily, the President may slap a rigid quota on imports to protect small U.S. producers. Flemming's suggestion: the oil companies should get together and work out an industry plan to restrict imports. The oil companies, which have had more than their share of antitrust suits, were not eager to work out any scheme that would, in effect, slice up a market between them. Furthermore, they do not agree with Flemming that imports have reached a dangerous level...
...ANTITRUST PROBE of General Motors will be made by West Virginia Democrat Harley Kilgore's Senate antitrust and monopoly subcommittee. Kilgore has no specific complaint against G.M., but will study it as a case history of big business...
Three years ago the U.S. Department of Justice took out after American News Co., biggest U.S. wholesale magazine distributor, and its subsidiary, Union News Co., biggest newsstand vendor. American, the Government charged in an antitrust suit, used its newsstand subsidiary as a weapon to grab exclusive national distribution rights for magazines, and Union (at American's direction) refused to sell any publication without American's consent. To end this restraint of trade and discrimination against publishers, the Justice Department went to court to force American to give up its control of Union News...
...trend, they are aware of the theoretical dangers to competition. But few of them feel that competition is being hurt-yet. The indications are just the opposite; mergers have made more banks than ever capable of competing. Said Chase Manhattan's Chairman John J. McCloy before the House Antitrust Subcommittee: "Any attempt to hold banks in a static mold, impervious to the dynamic forces reshaping the rest of society, would be to render them less useful and gradually impotent...
...character of opposition to the Fifth Amendment privilege, says Williams, has vastly changed over the last 50 years. Far from being praised by the class that is today its most liberal interpreter, the Fifth Amendment was attacked by early 20th century intellectual progressives as an obstacle to convictions in antitrust and railroad rebate cases. Recalls Williams: "In 1908, the U.S. Supreme Court analyzed the privilege at some length and concluded that as a human right it was definitely second class . . . The opinion was written by Justice Moody, an extremely able judge and a staunch 'progressive,' appointed by President...