Word: shermans
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...been dead three years when a Federal jury and judge at Madison, Wis. convicted twelve U. S. oil companies, two tycoons and three underlings of fixing (and raising) prices in the Midwest-what NRA had previously encouraged them to do.* For violating the Sherman Anti-Trust Act, each company was fined $5,000, each individual defendant $1,000. Upholding the convictions this week, the U. S. Supreme Court-which had just heard the Government argue its own right to fix coal prices (see p. 83)-knocked out any idea that under the law there is good price-fixing...
...this court has held a combination [of businessmen] illegal solely because its purpose or effect was to raise prices." Justice William Orville Douglas tossed away lack of precedent, held (for a majority of five): "Any combination which tampers with price structures is engaged in an unlawful activity. The [Sherman] Act places all such schemes beyond the pale. . . . Congress has not left with us the determination of whether or not particular price-fixing schemes are wise or unwise, healthy or destructive...
After the war the Roses razed Camp Gordon in Georgia, Camp Sherman in Ohio, set up salvage yards in 14 U. S. cities, spotted executive offices in five other cities from coast to coast. String-savers on a grand scale, they also bought army goods-everything from McClellan saddles to cots and hospital equipment-opened Army-&-Navy stores to resell them. They wrecked buildings by the thousands, branched into new lumber. In 1928 they incorporated. The company was named Cleveland in honor of Father Rose's home; its technical headquarters were based in Cincinnati because it was an Ohio...
Terming this set-up a restraint of trade violating the 1890 Sherman Anti-Trust Law, the Justice Department began proceedings against Ethyl in 1937. By last November, the corporation's appeals from adverse decisions had carried the case to the U. S. Supreme Court. Last week, in a decision so far-reaching that no one dared guess at its extent, the Court (Justice Harlan Stone's opinion) held...
...That the company had violated the Sherman...