Word: ftc
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Dates: during 1940-1949
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...before a House subcommittee last week strode the Federal Trade Commission's Lowell B. Mason. Under his arm was a new FTC report on the concentration of economic power in the U.S. Brooklyn's Congressman Emanuel Celler considered the 96-page report important enough to call his subcommittee into special session to hear it. What the committee heard was a collection of giant-sized facts...
...industry's productive facilities. National Biscuit Co. controlled 46.3% of all net capital assets in its industry in 1947. Armstrong Cork owned 57.9% of all the land, buildings and equipment in the linoleum industry. "Two giant organizations virtually preempt" the making of tin cans, charged the FTC report, with American Can Co. and Continental Can Co. sealing up a total of 92.1% of productive assets...
...Some of the more familiar targets for trustbusters, according to the FTC survey, showed a much greater spread in control. U.S. Steel, for example, owned only 28.6% of the steel industry's net capital assets...
...proposed legislation, said O'Mahoney, would provide no "loophole fof monopolistic practices." But it would require FTC to provide clear proof whenever it suspected that freight absorption had lessened competition. (At present the FTC can cite businessmen for conspiracy and then put the burden of proof on them to show that the absorption of freight charges has not hurt competition...
...Mahoney's bill still needed approval of the House and President Truman, but the chances for passage looked good. Both FTC and the Department of Justice had indicated their approval...