Word: ponts
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Dates: during 1950-1959
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...people know how much industry already contributes. In 1954 business will donate well over $60 million to private U.S. colleges, plus additional funds for research and equipment. Du Pont will parcel out more than $700,-ooo, most of it for chemistry students and research. Union Carbide has gone even further. It is planning a $500,000 program which will eventually provide 400 scholarships a year for more than 30 colleges to administer without strings of any kind...
...found no important correlation between their progress and lack of monopolistic restraint, as traditional theorists assumed there would have to be. The moral, said MacLaurin, is that trustbusters should take into account the creative contribution to the economy of a company's research (i.e., the argument Du Pont used to persuade a federal court to dismiss an antitrust suit against it on Cellophane [TIME, Dec. 21]) as an offsetting factor in the definition of monopoly...
Almost six years after the Government filed an antitrust suit charging the Du Pont Co. with a monopoly in cellophane and cellulose packaging products, Federal Judge Paul Leahy dismissed the case. The record, Judge Leahy declared this week in a 381-page opinion, disclosed "not the dead hand of monopoly, but rapidly declining prices, expanding production, intense competition stimulated by creative research . . . and other benefits of a free economy. Neither Du Pont, nor any other American company similarly situated, should be punished for its success...
...opposed tariff reductions. It argued in its 200-page report that "tariff cuts would be a cruel deception to the American people because they wouldn't begin to accomplish their proclaimed objective of 'trade, not aid.' " A lower protective tariff, said the association, which includes Du Pont, Dow Chemical Co. and General Aniline & Film Corp., would cut back production of essential chemicals, halt expansion plans and force the industry to curtail its $204 million-a-year research program. The industry is itself the product of protective tariffs, said the report; it got its start when chemical imports...
Last week the stock market reached an eight-month high as the Dow-Jones industrial averages rose four points to 280.23. Among the week's leaders: Du Pont, up more than three points to 105⅜; General Electric, up seven points...