Word: ponts
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Dates: during 1950-1959
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More convincing was Burton's second point of law: the court erred in holding that Section 7 applied "at the time of suit," after Du Pont had held the stock for 30 years, although what the law specifically forbids is "acquisition." In previous cases Section 7 had been applied soon after the acquisition, and many a lawyer agreed with Burton that by applying it 30 years after the fact, the court had opened up a new field of antitrust prosecutions (see BUSINESS). "Over 40 years after the enactment of the Clayton Act," wrote Burton, "it now becomes apparent...
...Under the 1903 Expediting Act, District Court judgments in civil antitrust suits can be appealed only to the Supreme Court, not to a Circuit Court of Appeals. †Clark disqualified himself because he was Attorney General when the Justice Department brought the suit in 1949. Harlan had represented Du Pont as a lawyer. Whittaker had not yet been appointed when the case was argued before the court. *In 1950, after the Government brought suit against Du Pont, Congress amended Section 7 to make it clearly applicable to vertical cases...
...first few hours after the U.S. Supreme Court laid down the antitrust law to Du Pont last week (see NATIONAL AFFAIRS), Wall Street reacted with anticipation. Du Pont stock shot up 6 points to 202½ in the hope of big stock dividends following the court's ruling that Du Pont interests must give up their 23% control (64 million shares) of General Motors stock, worth $2.7 billion. But when Wall Street took a more careful look, Du Pont stock slipped back down. Both Du Pont and G.M. stock fluctuated nervously for the rest of the week, as everyone...
...Rubber Co.; Gulf Oil has a 12% interest in Texas Gulf Sulphur, which supplies Gulf with sulphur; Olin Mathieson Chemical has 25.8% of Marquardt Aircraft and 50% of rocketmaker Reaction Motors, for which it is helping develop rocket fuel. And by successfully going back 30 years to trip Du Pont, trustbusters had won the right to try any company for things it did in long years past...
...businessman seriously believes that Du Pont bought into General Motors merely to wrap up a market for paint. Although the Supreme Court ruled that by its working control of G.M., Du Pont had been able to force its products on the automaker (specifically that Du Pont had supplied General Motors with about 67% of its paint and finish supplies, between 38% and 52% of its textile requirements in the years 1946 and 1947), the two items together make up only about 2% (or $20) of an auto's total cost. Du Font's total G.M. business amounted...