ANTI-TRUST SUIT IN U.S.A.
-Press Assn.-
Aluminium Company Cited By State EXCESSIVE PROFITS
(By Telegraph—
-tsopyriRbt.)
NEW YORK, April 24. The largest anti-trust action since tho Standard Oil case of 1911 occurred when the Government filed a suit asking for the dissolution of tho 174,000,000-dollar Aluminium Company of America, alleging it was a trust controlled by tho Mellon relatives and their associates. Defendaiits include the company, the Mellon relatives and tho Aluminium Company of Canada. The complaint, which was filed by order of Ihe Attorney-General, Mr H. S. Cummlngs, describes tbe company as a holding corporation for a group of pompanies in ,all parts of the world which stifled competition in the entire industry. It listed profits from the date of incorporation to Decsmber 31, 1934, totalling 155,000,000 dollars over and above dividends of 105,000,000 dollars. "Profits of such a size from supplying the public with an article of prime necessity for which it has and will have an increasing domand 'and for which there is no available substitute, are excessive and are the result of the monopolisation of an industry," it stated. i
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Bibliographic details
Hawke's Bay Herald-Tribune, Issue 84, 26 April 1937, Page 8
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184ANTI-TRUST SUIT IN U.S.A. Hawke's Bay Herald-Tribune, Issue 84, 26 April 1937, Page 8
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