Word: youngstowns
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...point decline for the comparable period of 1953. Other signs of upturn: ¶ Steel output at Pittsburgh rose to an estimated 74% of capacity last week, up from 70.6% the previous week, and the highest level since April. Chicago mills went to 73.8% from 70.3%, and Youngstown operations rose 12%, to 72%. ¶ Construction awards of all types rose to a record $1.8 billion in September, up 15% from the previous month and 4% from a year...
Also elected were, in the third row: Edward B. Dunn of Grays East; Robert E. Foley of Youngstown, Ohio and Massachusetts Hall; J. David Greenstone of Rochester, N.Y. and Matthews North; Michael J. Harrington of Hollis South; Harold Hestnes of Walpole, Mass. and Hollis North; Stewart H. Hussey of Terrace Park, Ohio and Holworthy West; John W. Jeffers of Lake Placid, N.Y. and Holworthy East; Larry R. Johnson of Emmetsburg, Iowa and Stoughton North...
Behind the Justice Department's decision lay weeks of work by its chief trustbuster, Assistant Attorney General Stanley Barnes, a hulking (6 ft. 1½ in., 248 lbs.), onetime football star (University of California) and presiding judge of Los Angeles County's Superior Court.* When Bethlehem and Youngstown lawyers came to Barnes with their merger plans, they found him a man hard to convince. One day they showed him a big map of the U.S. divided into zones to prove that Bethlehem's and Youngstown's markets did not overlap. Barnes took one look, then launched...
Article of Faith. The Bethlehem-Youngstown merger decision was the latest example of how Barnes has applied the antitrust lawyers "a nonpartisan article of faith." While many a Democratic skeptic expected the Republican Administration to be an easy taskmaster to businessmen, Barnes has proved to be quite the opposite. He inherited 136 antitrust cases from the previous Administration, so far has disposed of 76 (only ten by dismissal). Barnes's favorite technique is to reach consent decrees with antitrust offenders (38 to date), thus avoiding long and costly court fights...
Open Issue. Barnes does not think that the Bethlehem and Youngstown decision sets a precedent for other prospective mergers, of which there are always 15 to 20 under consideration. Ea.ch case now pending before his department will be judged solely on its merits. Furthermore, a committee of 60 top-flight legal and financial experts, appointed in August 1953 by Attorney General Brownell, will report in December on an exhaustive study of antitrust laws that may result in broad changes in antitrust interpretation. Says Stanley Barnes: "We are not afraid to step on people's toes when necessary...