Word: ponts
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Dates: during 1950-1959
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That knowledge and confidence sent stock prices soaring all through the year. Spectacular gains were scored throughout the list, e.g., General Motors went from 60 to 98;* Jersey Standard from 72 to 111; RCA from 23 to 38; Du Pont from 107 to 167; Anaconda from 30 to 52. As a group, the biggest rise (an average of 165%) came in the order-laden aircraft stocks. Taking into account splits, Douglas started at 83, rose 177 points (it gained 34 points in the last two weeks alone); Boeing started at 49 and rose 99 points; Northrop started at 18, gained...
Died. Eugene du Pont, 81, a director of E. I. du Pont de Nemours & Co. and great-grandson of its founder, father of Ethel du Pont Warren, onetime wife of Franklin D. Roosevelt Jr.; after long illness; in Wilmington...
...core of the Government's massive case was that the Du Ponts had bought stock in General Motors and U.S. Rubber to assure markets for their own products. The Du Ponts defense: they had bought the stock purely as an investment. To protect their original G.M. investment they were forced to pour millions more into the company in the early '205, and run it, after G.M. Founder William C. Durant's enormous stock-market losses threatened to ruin him and G.M. alike. At the time, the Du Pont total investment was some $80 million; its holdings...
...some new paths through the tangle of antitrust enforcement. Where other courts have ruled that the mere existence of a potential monopoly can be cause for conviction under the Clayton Act, La Buy said: Such a possibility existed for 30 years in the relationship between Du Pont and G.M. But "the record discloses that no restraint of trade has resulted. Accord ingly . . . there is not. . . any reasonable probability of such a restraint within the meaning of the Clayton...
Demolition Job. One by one, La Buy ran down the list of Government charges and carefully demolished each in turn. The U.S. charged that through Du Pont's ownership of 23% of General Motors stock, the company pressured G.M. to buy Du Pont products. Wrote La Buy: "No agreement was made . . . which bound [G.M.] to buy any portion of its requirements from Du Pont . . . [Du Pont] did not limit General Motors' purchasing freedom...