BIG SUIT
GREATEST ANTI-TRUST CASE SINCE CASE OF STANDARD OIL ALUMINIUM COMPANY OF AMERICA [United Press Association—By Electric Telegraph—Copyright] NEW YORK, 24th April. The greatest anti-trust action since the Standard Oil case in 1911, occurred when the Government filed a suit asking for the dissolution of the 174,000 000-dollar Aluminium Company uf America,/alleging that the trust is controlled by relatives and associates of Mr Andrew W. Mellon, former United States Secretary of the Treasury. Defendants include (he company, relatives of Mr Mellon and the Aluminium Company of Canada. The complaint, which was filed by order of the Attorney-General, Mr I-lomer S. Cummings, describes the company as the holding corporation for a group of companies in all parts of the world which has stifled competition in the entire industry. The listed profits from the company’s incorporation to 31st December, 1934, total 155,000.000 dollars. over and above dividends of 105.000.000 dollars.
“Profits of such size from supplying the public with an article of prime necessity, for which it 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 the industry,” the complaint adds.
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https://paperspast.natlib.govt.nz/newspapers/NEM19370426.2.54
Bibliographic details
Nelson Evening Mail, Volume LXXI, 26 April 1937, Page 5
Word Count
196BIG SUIT Nelson Evening Mail, Volume LXXI, 26 April 1937, Page 5
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