Word: medinae
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Dates: during 1950-1959
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...chambers high in Manhattan's federal courthouse one morning last week, Judge Harold R. Medina paused for a minute before donning his robes and descending to a courtroom seven floors below. "Holy cats!" he said. "This is the damnedest case I've ever seen." The "damnedest case" is the Government's suit against 17 investment banking firms, charged with monopolizing the sale of $42.5 billion in security issues from 1935 to 1949 (TIME...
Since the trial started under Judge Medina (and without a jury) 16 months ago, 1,200 exhibits have been introduced, more than 5,000,000 words of testimony put on the record. So far, the case has cost the defendants-and U.S. taxpayers-millions of dollars. The issues at stake are huge; if the Government wins, there will be what one expert called a "revolution" in the U.S. money market. Since the firms on trial handle the bulk of all negotiated underwritten security issues, a decision against them would permit the Government to lay down rules to change virtually...
...Upheld Federal Judge Harold R. Medina in slapping contempt judgments on the five attorneys who, with harassing courtroom tactics, defended the eleven top Communists convicted in New York in 1949 for violation of the Smith Act. The court, wrote Justice Jackson for the majority (in a 5-3 split), will always stand behind lawyers in fearless performance of their duty, but "will not equate contempt with courage or insults with independence." Dissenters Black, Frankfurter and Douglas held that the attorneys were entitled to trial by jury in another court. Added Douglas and Frankfurter: "One who reads the record . . . will have...
When Government lawyers opened their antitrust suit against 17 investment bankers in Manhattan 16 months ago (TIME, Dec. 11, 1950 et seq.), Federal Judge Harold R. Medina asked that they lead him along "like a child" through the complexities of investment banking. Since then, Medina has often complained that he was being led through nothing but fog. But last week his hopes went up again. On the stand as a prosecution witness was Chicago's Harold L. Stuart, president of Halsey, Stuart & Co., which floated the biggest dollar total of new issues last year...
...five days, the Government lawyers questioned Stuart, trying to support their charges that the defendants had frozen out such companies as Halsey, Stuart from security issues. Then Government Attorney Henry V. (for Vincent) Stebbins abruptly announced that he was about finished with Stuart. Medina was flabbergasted. It was "nothing short of criminal," he said, for the Government to end its examination without bringing out facts which he had been "dying to hear for a year and a half." Snapped the judge: "This is the most tremendous waste of time I ever heard of. I just cannot stomach...