EXCESSIVE PROFITS.
DISSOLUTION OF ALUMINIUM • COMPANY SOUGHT. ALLEGED TO BE A TEUST. (By Telegraph-Press asbu.-Copyright) deceived Sunday, 8.30 p.m. NEW YORK, April 24. The largest anti-trust action since the Standard Oil case of 1911 occurred when the Government filed a suit asking for the dissolution.of the 174,000,000-dollar Aluminium Company of America, alleging it was a trust controlled by the Mellon relatives and their associates. Defendants include the company, the Mellon relatives and the A!i7minium Company of Canada. The complaint, which was filed by order of the Attorney-General, Mr H. S. Cummings, describes the company as a holding corporation for a group of .companies in all parts of the world wha-ch stifled competition in the entire industry. It listed profits from the date of incorporation to December 31, 1934, totalling 155,000,000 dollars over and above dividends of 105,000,000 dollars. "Profits of such assize from supplying the public with an article of prime necessity for which if has and will have an increasing demand and for which there is no available substitute,-are excessive and are the result of the monopolisation of an industry" it stated. '
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Bibliographic details
Horowhenua Chronicle, 26 April 1937, Page 6
Word Count
183EXCESSIVE PROFITS. Horowhenua Chronicle, 26 April 1937, Page 6
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