Word: general
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Dates: during 1930-1939
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Retentionist sentiment, both in the Philippines and the U. S., has recently grown rapidly. If Japan plans to move in the day after the U. S. moves out, why move out? This week Commander in Chief of the U. S. Asiatic Fleet Admiral Thomas C. Hart and Shanghai Consul General Clarence E. Gauss sail for Manila aboard U. S. S. Augusta for consultations with Francis B. Sayre, U. S. High Commissioner to the Philippines, on the subject of U. S. interests in Asia, and the extent to which the U. S. should stand watch over Allied interests. Last week France...
...courtroom one night last week sat 17 respectable business men, numb with the same chill apprehension that narrows the eyes of every accused man when his trial jury announces it is ready with its verdict. Hulking in their midst was bluff, red-faced President William S. Knudsen of General Motors Corp., nearby the slim figure of G. M. C.'s millionaire Board Chairman Alfred P. Sloan Jr. In the defendants' sanctuary around them sat 15 others: President John J. Schumann Jr., of General Motors Acceptance Corp., three of his vice presidents, lesser G. M. C. officials...
...Judge Walter C. Lindley took his seat on the bench and the jury of farmers and merchants stumbled into the box. The 17 sat ramrod-straight as the farmer-foreman handed up the verdict. The clerk began to read: General Motors Corporation, guilty; General Motors Sales Corporation, guilty; General Motors Acceptance Corporation, guilty; General Motors Acceptance Corporation of Indiana, guilty. He began the list of individual defendants: Alfred P. Sloan, William S. Knudsen, M. E. Coyle. . . . Over the faces of the defendants fell a dark shadow. The maximum penalty for the conspiracy as charged was a fine...
Thus ended the six-week trial of General Motors, accused of conspiring to restrain interstate commerce by forcing its dealers to specify that all the cars they sell on installments be financed through General Motors Acceptance Corp. The jury's strange verdict seemed to say that there had been a conspiracy without conspirators. But no seer was needed to guess at the jury's real meaning: that the men accused were no criminals, but the practice had better be stopped...
Significance. When prosecution loomed, Ford and Chrysler accepted consent decrees, agreeing not to compel dealers to use their finance companies, provided that General Motors stood trial and lost. General Motors, carrying the ball for the big three, expects to appeal the case all the way to the Supreme Court. The final decision in G. M.'s case will determine whether the 370-odd independent U. S. finance companies can cut themselves in on the profitable installment business of the motor industry...