Steel Companies (subpenas): Hearings Before the Committee on the Judiciary, United States Senate, Eighty-seventh Congress, Second Session, on Refusal of Certain Steel Companies to Respond to Subpenas. September 12, 14, and 20, 1962

U.S. Government Printing Office, 1963 - 220 páginas
Considers possible contempt citations against four steel companies which refused to disclose cost data information subpoenaed by Senate Subcommittee on Antitrust and Monopoly.

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Página 170 - That for the purposes of this Act the commission, or its duly authorized -agent or agents, shall at all reasonable times have access to, for the purpose of examination, and the right to copy any documentary evidence of any corporation being investigated or proceeded against; and the commission shall have power to require by subpoena the attendance and testimony of witnesses and the production of all such documentary evidence relating to any matter under investigation.
Página 154 - The market which one must study to determine when a producer has monopoly power will vary with the part of commerce under consideration * * *. The tests are constant. That market is composed of products that have reasonable interchangeability for the purposes for which they are produced — price, use and qualities considered.
Página 168 - Unfair methods of competition. — In section 5 of the Federal Trade Commission Act itself the following very important provision of declarative law is stated: "That unfair methods of competition in commerce are hereby declared unlawful.
Página 166 - A subpoena may also command the person to whom it is directed to produce the books, papers, documents, or tangible things designated therein; but the court, upon motion made promptly and in any event at or before the time specified in the subpoena for compliance therewith, may (1) quash...
Página 24 - ... this Act, shall, upon conviction thereof, be subject to a fine of not more than $5,000 or to imprisonment for not more than one Year, or to both such fine and imprisonment.
Página 24 - Stat. 443), shall apply with respect to any individual who specifically claims such privilege. (c) No department, agency, or official exercising any functions under this act shall publish or disclose information obtained hereunder which is deemed confidential or with reference to which a request for confidential treatment is made by the person furnishing such information unless the head of such department or agency determines that the withholding thereof is contrary to the national interest.
Página 154 - Alcoa" was free to raise its prices, as it chose, since it was free from domestic competition, save as it drew other metals into the market as substitutes. Was this a monopoly within the meaning of § 2? The judge found that, over the whole half century of its existence, "Alcoa's...
Página 206 - The price of monopoly is upon every occasion the highest which can be got. The natural price, or the price of free competition, on the contrary, is the lowest which can be taken, not upon every occasion indeed, but for any considerable time together. The one is upon every occasion the highest which can be squeezed out of the buyers, or which, it is supposed, they will consent to give ; the other is the lowest which the sellers can commonly afford to take, and at the same time continue their business.
Página 152 - ... without placing on the government in enforcing the Sherman Law the burden of ascertaining from day to day whether it has become unreasonable through the mere variation of economic conditions. Moreover, in the absence of express legislation requiring it, we should hesitate to adopt a construction making the difference between legal and illegal conduct in the field of business relations depend upon so uncertain a test as whether prices are reasonable—a determination which can be satisfactorily...
Página 149 - ... opposition to the erection of new cement plants; selling cement in a recalcitrant price cutter's sales territory at a price so low that the recalcitrant was forced to adhere to the established basing point prices; discouraging the shipment of cement by truck or barge; and preparing and distributing freight rate books which provided respondents with similar figures to use as actual or "phantom...

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