Word: antitrusters
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...troles, New Jersey Standard, Socony, Texaco, Cali fornia Standard and Gulf-were secretly hammering out a tentative agreement to market Iran's oil through an international consortium. In Washington, the National Security Council directed the Attorney General to grant the five U.S. companies immunity from antitrust prosecution if they joined the combine...
...firms have been granted antitrust immunity so that they can combine in working out a solution to the Iranian oil problem. The action, taken with approval of the National Security Council, may prove embarrassing to the Department of Justice, which is pushing an antitrust civil suit against the five biggest oil companies-Standard Oil (N.J.), Texas Co., Standard Oil of California, Gulf, Socony-Vacuum-on charges of conspiring to engage in an international oil-marketing cartel...
...shooting stopped last week in one of the biggest civil antitrust suits since the war. In Manhattan the U.S. Government and the Great Atlantic & Pacific Tea Co. signed a consent decree. It left the company, which the Government had wanted to split into seven separate units, virtually untouched, but banned such practices as 1) using its enormous buying power to squeeze heavy discounts from suppliers, and 2) selling below cost in an area to undermine competition. The biggest change: A. & P. will dissolve its huge produce-buying subsidiary, the Atlantic Commission Co., which has been under fire for acting both...
...Crest Theater sued the distributors for treble damages, charging conspiracy and a breach of the Sherman Antitrust Act. In Baltimore's Federal District Court, the Crest lost; in the Court of Appeals it lost again. Not many years ago, the Supreme Court might have upheld the Crest Theater just as it upheld Chicago's Jackson Park neighborhood theater when it sued in a somewhat similar case involving first-run movies (TIME, March u, 1946). But last week, speaking for the majority, Justice Tom Clark dealt the final blow to the Crest's case. Said he: "This court...
...curtain came down on an important antitrust case kst week. In Manhattan, Federal Judge John C. Knox dismissed the Government's four-year-old antitrust suit against Showmen Jacob J. Shubert, the late Lee Shubert and four other defendants, for monopolizing the legitimate-theater business in the U.S. Citing the Supreme Court's refusal to apply the antitrust laws to professional baseball, Judge Knox ruled that the showmen enjoyed the same freedom from antitrust action...