Document: 351 U.S. 377 76 S.Ct. 994 100 L.Ed. 1264 UNITED STATES of America, Appellant,v.E. I. DU PONT DE NEMOURS AND CO. No. 5. Argued Oct. 11, 1955. Decided June 1956. Mr.Charles H. Weston, Washington, D.C., for appellant. Mr. Gerhard A. Gesell, appellee. Justice REED delivered the opinion Court. 1 The United States brought this civil action under § 4 Sherman Act against E. du Pont de Nemours and Company. complaint, filed December 13, 1947, in District Court Columbia, charged with monopolizing, attempting to monopolize conspiracy interstate commerce cellophane cellulosic caps bands violation 2 Act. Relief by injunction was sought defendant its officers, forbidding monopolizing or trade cellophane. prayer also dissipate effect monopolization divestiture other steps. On defendant's motion 28 U.S.C. 1404(a), U.S.C.A. case transferred Delaware. After a lengthy trial, judgment entered on all issues.1 Government's direct appeal here does not contest findings that relate bands, nor it raise any issue concerning alleged attempt appeal, as specifically stated Government, 'attacks only ruling has monopolized cellophane.' At determination is Act.2 3 During period relevant action, produced almost 75% sold States, constituted less than 20% 'flexible packaging material' sales. This designation accepted at trial materials listed Finding 280, Appendix A, opinion, 1012. Government contends that, so dominating production, 'part commerce' 2. Respondent agrees product which constitutes 'a 'part' within meaning Section 2.' Du brief, pp. 16, 79. But prohibition violated because have power control price exclude competitors from market sold. court below found 'relevant determining extent Pont's flexible materials,' competition those prevented possessing monopoly powers sales 37. 5 asserts wrapping are neither substantially fungible like priced. For these reasons, argues wrappings distinct afforded strong enough be considered whether powers. Market delimitation necessary theory determine an monopolist violates ultimate consideration such defendants part they monopolizing. Every manufacturer sole producer particular commodity makes but above sense depends upon availability alternative commodities buyers: i.e., there cross-elasticity demand between wrappings. interchangeability largely gauged purchase competing products similar uses considering price, characteristics adaptability commodities. alternatives. must erred estimate materials. 6 burden proof, course, establish monopoly. See v. Aluminum Co. Cir., 148 F.2d 416, 423, 427. held failed do, fact law length court. succeed now, show erroneous legal tests were applied essential themselves 'clearly erroneous' our rulings Rule 52(a) Rules Civil Procedure, UnitedStates Gypsum Co., 333 364, 393—395, 68 525, 541, 92 746. We do try facts cases novo. Timken Roller Bearing 341 593, 597, 71 971, 974, 95 1199.3 7 Two additional questions raised record decided below. That even if did possess over cellophane, subject prosecution, (1) acquisition protected patents, (2) acquired solely through business expertness. It thrust Pont. 118 F.Supp. pages 213—218. 8 Since excludes attempts conspiracies consideration, conclusion no would obviate examination last two issues. 9 Factual Background.—For monopolization, general summary development useful. 10 In early 1900's, Jacques Brandenberger, Swiss chemist, attempted make tablecloths impervious dirt spraying them liquid viscose (a cellulose solution available quantity wood pulp, 361) coagulating coating. His idea failed, he noted coating peeled off transparent film. first 'cellophane' thick, hard, perfectly transparent, Brandenberger apparently foresaw commercial possibilities his discovery. By 1908 developed machine manufacture sheets regenerated cellulose. satisfactory, 1912 making saleable thin film used gas masks. He obtained patents cover machinery ideas process. 11 seems agreed, however, disclosures sufficient possible inadequacy partially attributed (the Hopper) improved after patented. more significant failure disclose actual technique included operational data experimentation.4 12 1917 assigned La Cellophane Societe Anonyme joined organization. Thereafter developments production somewhat paralleled taking place artificial textiles. Chemical science furnished knowledge perfecting new products. success been enormous. American leader field synthetics learned cellophane's successes associate, Comptoir des Textiles Artificiel. 13 1923 organized company plain undisputed that: 14 'On 26, 1923, agreement executed duPont Company licensed exclusively granted exclusive right sell North Central America Cellophane's secret processes manufacture. DuPont rights rest world might develop.' 24. 15 Subsequently several foreign companies, allowing vend limited areas. 601. Technical exchange agreements companies into same time. However, 1940, notified made country,5 1948 technical canceled. 16 Sylvania, affiliate Belgian covered license referred to, began 1930. Litigation French resulted settlement whereby came stock interest contrary Cellophane-du agreement. adjustments compensation intrusion extended territory. details seem important. 1934 Sylvania about 25% 17 An important factor growth perfection moistureproof superior research patented 1927 application. Plain little resistance passage moisture vapor. Moistureproof composition added keeps out packed commodity. type had much rapid plain. 18 1931 own patents. negotiations patent rights, 1933 royalty 2% These licenses licenses, company, full competitor, terms combined payment prohibitive excess. 552. There never excess production. limiting clause dropped January 1, 1945, 1946 Viscose Corporation assets hundred million dollars. 19 Between 1928 1950, increased $3,131,608 $9,330,776. $603,222 $89,850,416, although prices continuously reduced. 337. could said immense increase use attributable quality acumen Pont, though doubtless factors expansion commodity-packaging habits business, by-product efficient competitive merchandising meet modern demands. profits, large, arose trend marketing, industrial chemical synthetics, rather elimination producers market. discussed later 1006. Tables appearing end (Appendix Findings 279—292, inclusive, 1012—1014) comparison wrappings.6 discussion, infra, 1009 et seq. 20 II. Courts.—The received long careful application achieve Nation freedom enterprise restraint envisaged Congress passed 1890. Because couched broad terms, adaptable changing types distribution evolved since passage. Chief Hughes wrote 'As charter freedom, act generality comparable desirable constitutional provisions.' Appalachian Coals, Inc., 288 344, 359—360, 53 471, 474, 77 825. Compare remedy, Judge Wyzanski Shoe Machinery Corp., 110 295, 348. Standard Oil New Jersey 221 50, 31 502, 511, 55 619, fear accumulations individual corporate wealth industry developing national economy caused Units traders snowballed combining so-called 'trusts.' Competition threatened. Control feared. Individual initiative dampened. While economic picture changed, large aggregations private capital, attributes, continue. Mergers go forward. Industries steel, automobiles, tires, chemicals, few organizations. A considerable size often operation research, distribution. 21 Judicial construction anti-trust legislation generally left unchanged Congress. true Reason.7 fair say imprecise, litigation, directed enhancement throttling competition, given workable content antitrust legislation. note 18, infra. judicially declared proper interpretation 1911, strong, clear-cut dissent challenging soundness ground specific words every contract tended restrain monopolize.8 receded position Rule.9 not, we think, inconsistency judicial maintenance division territory Act.10 logical some practices invalid per se, while others illegal situations.11 22 Difficulties arisen view changes practices.12 They called forth reappraisal government.13 far problems concerned courts administrative agencies. Cf. Federal Trade Commission Act, 38 Stat. 721, 46. exceptions prohibitions, spring necessities conveniences certain industries organizations, members groups citizens.14 express legislative economy's need reasonable limitations cutthroat '(W)here made, should them.' Line Material 287, 310, 550, 562, 701. modify reach change monopolies. therefore turn (note 2, supra) section dominance before-stated circumstances. 23 III. 2—Monopolization.—The statutory language pertinent review is: 'Every person who shall * deemed guilty *.' pointed common grant sovereign handling anything restrained hindered their lawful trade. 51, 512, 619. England, recognized acts bringing evils authorized monopoly—unduly diminishing enhancing prices—were undesirable, id., 56, 57, 58, 514, 515, Id., 60—62, 515—516. Our party has, 'any among states', controlling unreasonably restricting competition. page 85, 525. 24 Senator Hoar, discussing involved something extraordinary success, 'that means impossible persons engage competition.'15 exception prohibitions perhaps 'thrust upon' one 429, undecided possibility Tobacco 328 781, 66 1125, 90 1575. 342.16 25 If 'market' dominate, may assumed 'market.'17 Monopoly competition.18 apparent set Moreover, practically anyone commence manufacturing without access technique. prevent consequently Price intimately entwined discussion treat one. inconceivable controlled vice versa. approach strengthened Court's prior when intention assumed.19 26 number buyers sellers deal freely standardized product, salt wheat, complete pure Patents, hand, furnish most familiar classic As bring differentiations quality, designed, permit differences use, becomes greater degree incomplete producer's article according differentiation able create maintain. retail seller location, isolated country store filling station, else just attractiveness example cigarettes. Thus can theorize monopolistic nonstandardized each having product.20 let us say, automobile soft-drink manufactures trademarked Illegal appraised product.21 27 Determination how different another offered character will substitute another. example, think building hardly brick competed steel cement stone litigation; too different. interindustry emphasized economists. Lilienthal, Big Business, c. formulae soft drinks Whatever be, hold establishes existence requires surely 1. course mean notes 9, supra. next step cellophane: is, relation charge defense, merely IV. Relevant Market.—When interest, substitutes market, power. substitutes, cannot, Times-Picayune Pub. 345 594, 612, 73 872, 882, give infinite range' definition substitutes. Nor require argues: 29 'we urge circumstances negative possession product. decisions clear least consider price.' 30 where alternatives readily purposes, exist differs others. so, physically identical To accept argument, conclude well monopolists, films Pliofilm, foil, glassine, polyethylene, Saran, distinguishable. exhibits case. appear, monopoly? What appraisal 'cross-elasticity' Note, 54 Col.L.Rev. 580. varying result.22 what definite rule reasonably interchangeable consumers purposes up commerce', illegal. respects materials, geographically nationwide. Industrial activities cannot confined trim categories. monopolies narrow fields eliminated.23 settle here. put control. selling vary, cheaper drive expensive. Or, higher priced articles dominant desirable. costs many few. whatever various bought manufacturers goods plants converters shape print wrapped. 32 From basic advantages disadvantages summarized 62 63. aluminum, acetate, chlorides, rubber hydrochloride, ethylene gas. adequately illustrate similarity nothing glassine.24 Its extensive C, 1016, equally satisfactory users.25 33 admitted combines elements transparency, strength cheapness definitely Comparative thus: 34 'Moistureproof highly tears high bursting strength, gases, resistant grease oils. Heat sealable, printable, adapted machines, excellent material both display protection 35 'Other fall four major categories: opaque nonmoistureproof paper designed primarily convenience packages; degrees transparency either protect, encompass; (3) obviously poor protecting job exclusion retention important; (4) (foils products) protect display.'26 36 59, Appendix, B, 1015, clear. 37 But, despite uses. principal analyzed 281 282. Food chief outlet, cigarettes next. challenge 283 furnishes 7% bakery products, candy, 32% snacks, 35% meats poultry, 27% crackers biscuits, 47% fresh produce, 34% frozen foods. Seventy-five eighty percent wrapped 292. Thus, shares over-all result accounts 17.9% measured surface. A., Moreover very functional exists shown tables 150—278.27 noted, except permeability qualities possessed Meat interchangeability. 205—220. Although meat reached 19,000,000 pounds annually, nearly 35%, volume 'to rise self-service retailing meat.' 212 283. fact, popularity meats, lost proportion' Pliofilm. 215. Pliofilm expensive physical offset advantage. retailers shift continually two, increasing share business. 216. One further worth noting. Before World War II, 10% baked smoked meats. peak year 1933. 209. unable greaseproof paper. declined again until 1947. 209—210. paper, waxed foil 218. 209—210 215—216 proportion 39 element responsiveness other.28 slight decrease causes customers switch indication them; compete '(g)reat sensitivity markets changes' price. 207. sustains findings. references 123—149. 40 mentioned suffices 41 stresses variation demonstrates noncompetitive. consider, done comparative cost consumer square area. seen 130, C. margin.29 three times much, surface measure, glassine papers. Other forms mineral substances, aluminum observed wrap small packages relatively entire article.30 Different vary time undergo change. necessity central unchanging demand. gave subject.31 42 variable energy ability push wares choice. glance 'Modern Packaging,' journal, give, advertisements, examples judge visited 1952 Annual Packaging Show Atlantic City, consent counsel. 'machinery manufacturers, materials.' personal observations confirmed 820. wide variety evidence, expressed 838: 43 'The functionally purpose prices; separate materials; nature duPont's control; aspects business.' 44 dispose contention excluded proof ever rapidly expanding concedes states 'lack inhibit entry (i.e., materials), comprising widely disparate indicium absence sale shows multiplicity financial running hundreds millions. 66—72. Indeed, 727, immaterial matter material. liberal (according 15.9% net taxes 1937—1947 average), demonstrate lack profits during years prosperous industries. 17%, showing rate return 719. 45 study consideration. constant. composed produced—price, considered. remains uncertain, shows. 46 Court, affirmed. 47 Affirmed. 48 CLARK HARLAN took decision 49 VIII. Results With Materials. 50 (Findings 279—292.) 51 279. introduction increased. Total relative percentage grown capacity policies, attained bulk due 52 280. Of imports 1949 surface, accounted consumed year. figures are: Thousands Square Yards Glassine, Greaseproof Vegetable Parchment Papers..... 3,125,826 Waxing Papers (18 Pounds over). 4,614,685 Sulphite Bag Wrapping Papers. 1,788,615 Foil................... 1,317,807 Cellophane...................... 3,366,068 Cellulose Acetate................. 133,982 Polyethylene, Saran Cry-O-Rap. 373,871 Total....................... 14,720,854 56 Production. 2,629,747 57 Per Cent Production Imports 58 Flexible Materials...... 281. Eighty food industry. quantity, 80% goods, meat, foods, vegetables potato chips, 'snacks,' peanut butter sandwiches, popcorn, etc. amount textiles Largest nonfood overwrapping cigarette packages. 59 breakdown was: Use Sales Percent (M pounds) TOBACCO Cigarettes............ 20,584. 11.6 Cigars................. 3,195. 1.8 Tobacco..........__1,657._0.9 Total................. 25,436. 14.3 FOOD PRODUCTS Candy & Gum........... 17,054. 9.6 Bread Cake.......... 40,081. 22.5 Crackers Biscuits... 12,614. 7.1 Meat.................. 11,596. 6.5 Noodles Macaroni..... 2,602. 1.5 Tea Coffee........... 1,380. 0.8 Cereals................ 2,487. 1.4 Frozen Foods........... 5,234. 2.9 Dried Fruit............. 333. 0.2 Nuts....................... 2,946. 1.7 Popcorn Potato Chips. 6,929. 3.9 Dairy Products......... 3,808. 2.1 Fresh Produce.......... 4,564. 2.6 Unclassified Foods......8,750._4.9 60 120,478. 67.7 61 MISCELLANEOUS Hosiery................ 1,370. 0.7 Textiles............... 3,141. Drugs.................. 1,031. 0.6 Rubber.................. 317. Paper.................. 2,736. Unclassified..........__18,602._10.5 27,197. 15.3 Domestic Total......... 173,011. 97.3 Export.................. 4,820. 2.7 Grand Total............ 177,831. 100.0 1951, uses, approximately follows: White bread........between 9,000,000 Specialty breads............... 15,700,000 63 Cake sweet goods. 22,000,000 Meat........................... (including chewing gum).. 20,000,000 biscuits.......... 17,000,000 foods.................... 5,800,000 Cigarettes..................... 23,000,000 64 representative whose substantial segment total converting showed following classified use: End Quantity (Millions BAKERY sq. in.) Cellophane...... 109,670. 6.8 Foil.............. 2,652. .2 Glassine......... 72,216. 4.4 Papers............. 1,440,413. 88.6 Films..........______215.____.0 1,625,166 CANDY Cellophane.......134,280.24.4 Foil............ 178,967.32.5 Glassine........ 117,634.21.4 Papers.......... 119,102.21.6 Films..........______484.____.1 550,467 SNACKS Cellophane....... 61,250. 31.9 Foil...............1,571. .8 120,556. 62.8 Papers............ 8,439. Films............_____79.___.1 191,895 MEAT POULTRY 59,106.34.9 Foil..................88..1 Glassine.......... 4,524.2.7 Papers........... 97,255.57.5 Films........._____8,173.___4.8 169,056 CRACKERS BISCUITS 29,960. 26.6 Foil................ 192..2 11,253. 10.0 71,147. 63.2 Films............._____8.___.0 112,560 FRESH PRODUCE 52,828. 47.2 Foil................. 43..1 Glassine............. 96. .1 51,035. 45.6 Films........._____7,867.___7.0 111,869 FROZEN EXCLUDING DAIRY Millions 31,684. 33.6 Foil.................629. .7 1,943. 56,925. 60.3 Films............._3,154._3.3 94,335 65 284. About 96% packaged white bread 6% figure includes producers. 285. Forty-eight specialty breads remainder Most balance glassine. 67 286. Approximately 45% cake wholesale bakers 287. candy units 69 288. sponge biscuits 30% 1951 70 289. present Cry-O-Vac, vegetable parchment. 290. chips snacks wraps. 72 291. cereal outer paper-foil 75 States. represent 11.6% B. 74 59. accompanying Table compares, descriptively, materials: PHYSICAL PROPERTIES Tear Print- Strength Materials Sealability Clarity (Elmendorf) (plain) Yes (if Highly Transparent Low coated) 78 79 (Moisture-proof) grease-proof No Opaque Good 80 Glassine Commercially 81 Lacquered Translucent 82 Waxed 83 Parch- Tends 84 ment Paper High 85 lbs. over) Foil 86 (Heat Sealing) 87 Acetate 88 (rubber Medium 89 hydrochloride) Slight Haze (Vinylidene Chloride) 91 Polyethylene Cry-O-Rap (high fin- 93 ish wrapper 94 label paper) TABLE CONTINUED Water Absorption Dimens. Resistance Machine 96 Bursting hrs. Moisture Permeability Change Grease Running 97 Immersion Gases Humid Diff. Oils Qualities 98 Very Large Excellent O.K. 99 Low-Medium Moderate 101 102 103 104 105 None 106 Nil 107 Nearly 108 Variable Small 109 Poor 111 112 113 114 (Finding Fact 130.) 115 average were: Yield 116 1,000 in. lb. 117 (cents) (sq. Gauge #517.... 6.1. 99.0 16,300 .00088"........... 3.3. 82.0 25,000 119 .002"—18" Flat Width. 5.4. 81.0 15,000 120 N 2..... 3.8. 80.8 21,000 .00035"........... 1.8. 52.2 29,200 300 MST—51........ 2.3. 47.8 PT............ 2.1. 44.8 21,500 27#............... 1.4. 22.3 16,000 Bleached 25#............... 1.0. 17.8 17,280 .9. 15.8 25# Self-Sealing.. 1.1. 15.2 14,400 Coated Opaque. .7. 11.9 121 Sold converted form. unconverted quotations. 122 FRANKFURTER, concurring. 123 I concur REED'S supports itself constitute closed 124 pithily defined conflicting claims defense sustained, affirmed unnecessary would, come 'monopolizing' Needless disquisition difficult singlefirm avoided disposed problem. 125 boundary events powerful offending outlawry brings attainment condemnation section, established phrases. determined reference considerations analogous applied. illuminatingly Brandeis Court: 126 test legality imposed regulates thereby promotes suppress destroy question ordinarily peculiar applied; condition before imposed; effect, probable. history restraint, evil believed exist, reason adopting attained, facts. *' Board City Chicago 246 231, 238, 242, 244, 683. 127 Sections implicate considerations. issued call adjudication united, intrinsically entail social judgment. Any 'monopoly' escape judgment, implied, best withheld inescapably calls it. 128 WARREN, whom BLACK DOUGLAS join, dissenting. 129 case, turns defining measured, majority virtually emasculate admit 'cellophane of' host Yet indistinguishable warrant inclusion agree Publishing 613, 883, 1277, "the selfsame product" parchment papers, sulphite films.1 130 'It noting glassine.' selected cellophane; compare properties incorporated comparison, enables unique combination lacking degrees.2 reveals glassine's low; gases lower glassine; oils glassine's. Similarly, see paper's permeable offers whatsoever respect close majority's dubious. contrast actually low strength. And addition being opaque, oils, heat sealable. placing include films, bear resemblance juxtaposition Cry-O-Rap, facilitates markedly superior. 131 conduct indicated papers 'the products' qualitative demonstrated conclusive. provides convincing businessmen regard complaint (1923—1947) enjoyed phenomenal growth. 1924 361,249 pounds, for.$1,306,662. 1947 133,502,858 $55,339,626. 297 throughout 136 1929 seven 1934, times, still twice Reference DX—994, graph based, believe buyers, practical businessmen, amounts quarter century one-seventh one-half testimony distinctiveness. 132 inference yielded reinforced 587 producer, absolutely immediately followed change, dating back list effective date Producers displayed indifference repeated cuts. DX—994 1932 84%, remained constant.3 1933—1946 face 21% decline 'shifts business' 'price sensitivity' substantial, wanted stay compelled forces was. correctly point 133 'An other. market.' 134 Surely cellophane' complaint. meeting tremendous cuts convinces products.4 135 Certainly shared view. first, concern contemplating Development Department reported 'is inferior belongs entirely class competitor cellophane.'5 1950 survey prospects wholly omitted 'Competition non-cellophane others.'6 toward maintaining Cellophane, technology, sale, provided, limitation existing future information pertaining process 'secret confidential,' pool.7 subsequent licensees, preserve continental inviolate.8 1929, domestic won struggle tariff 60%, ad valorem, imports,9 foreclosing When became second suit claiming infringement settled entering cross-licensing Under third patentable invention and, provision, Sylvania's industry's sales.10 aware settling suit, open competition.11 commercially available, enlightened enterprise, gone lengths 137 predicted analysis,12 proved enormously profitable outset. five minority interests subsidiary, pay fifteen original stock.13 innovation, confidential report 1937 great sales, 'operative return' (before taxes) averaged 31%, 'net (after deduction taxes, bonuses, fundamental expenditures) 15.9%.14 Such provide incentive competitors.15 firm, begin stolen.16 Olin Industries, unsuccessful produce finally abandoning project 1944 spent $1,000,000.17 reduce hazard judged business,'18 enter Despite demonstration achieved dominion process, 727. finding erroneous.'19 avoid passing 727 stating 'immaterial material.' appear disagree conclusion, concede '* technique.' 138 'Du arbitrarily. lose uses.' 712. 139 misconception laws. seeking maximize 'arbitrarily.' Higher smaller per-unit profit. Lower Within limits latitude pursue profits. thought 'penalize' sales.20 him wrong. operating earnings 26% years, boosted 1948. manager then 'If operative 31% inadequate upward revision improve return.'21 choice, laws forbid.22 independent pricing policy consistently leave room doubt cited affect conclusion.23 demonstrate, 'good monopolist,' predatory chose lowering Proof exercise certainly refute 140 purports reject 'interindustry competition.' Brick, wood, stone, says, 'too different' placed wax different,' concludes. enable exhibition consequences pictures measure legitimate theater, television, radio, sporting entertainment. Here, too, undoubtedly accompany fluctuations 'there purposes'. Yet, Paramount Pictures, 334 131, 915, 1260, nationwide movie exhibition, remanded directions distributors 'in first-run country, largest cities localities.' 172, 936. landmark Learned Hand, reversing district court, 'secondary' (used) 'virgin' justify including former measuring Alcoa's Against precedents, approves follow, formula 'reasonable interchangeability,' majority, appears danger 'perfectly compatible fully economy.'24 141 meets want entitled benefits 282 single cigarettes, 292 recent Attorney General's National Committee Study Antitrust Laws states: 'In rivalry extends rivals always important25 (Emphasis added.).' Furthermore, alternatives' industry, lead quality. 142 foregoing analysis conclusively lion's power, concede.26 'monopolization.' briefest sketch precludes falling 'exception power' (majority 1004) successfully asserting passive beneficiary monopoly' supra, 429—430. maintained dividing concealing suppressing technological information, licensee's royalties,27 numerous maneuvers 'honestly industrial' nevertheless exclusionary.28 proving owes skill supplied.) 342, curiam 347 521, 699, 910. 143 rely monopolization. Once moistureproofing easy. pooling arrangements territorial restrictions agreements. illicit exclusionary Pont-Sylvania Hence, tainted parcel Cf., Mercoid Corp. Mid-Continent Inv. 320 661, 670, 268, 273, 376. permitone monopolizes liability patenting simple improvement 144 core consistent lucrative 1951. illustrates tend structure behavior. public dispensations management order obtain normally beneficence uncertain tenure. Only assure long-run enjoyment goals free economy. 145 reverse remand cause relief 41. occupies 192 volume. Fact, 854 number, pages. citations appendices, 1012 Supplement. probable jurisdiction October 14, 1954, 348 806, 41, 637. contract, form trust otherwise, conspiracy, nations, U.S.C.1952 ed. Supp. III, monopolize, combine conspire persons, misdemeanor, conviction thereof, punished fine exceeding fifty thousand dollars, imprisonment year, punishments, discretion court.' invested violations sections 1—7 title 4, 4. Yellow Cab 338 338, 177, 150; Oregon State Medical Soc., 343 326, 339, 690, 698, 978; Initially, determined. viscous fluid ripened 'ripening index,' shaken coagulation point. requisite varies ripening Fourteen baths follow bath. advantageous time, temperature, size, composition, duration trials errors corporation directed. estimated taken experimentation attain Substantially letters sent form: 'Question organization your relating clearly frankly established, desire you conclusions. 'Based provisions contracts, light construe imposing sell. export world, lawfully based unauthorized inventions trade-marks manufacture, sale. 'This letter intended involving information.' R. 3323. Further 150—278. 58—62, 516, §§ 'broad embrace conceivable required 'standard.' standard reason, drawn law, adopted. Adams, 'Rule Reason,' Yale L.J. 348; Oppenheim, Legislation, Mich.L.Rev., 1156, 13. seq., 526. Columbia Steel 495, 529, 1107, 1533; 614—615, 1277. Trenton Potteries 273 392, 377, 700; 813, 1140, 1575; 1199. Mich.L.Rev. 1139, 1151—1152; Reason', Schwartz Dissent, Bulletin 37, 47. 526, 1123, 1533. Final Report, Investigation Concentration Economic Power, S.Doc. 35, 77th Cong., 1st Sess.: Monograph Investigation, Handler, Construction Enforcement Laws, 76th 3d Sess., Effective Competition, Report Secretary Commerce, Charles Sawyer, Business Advisory Council, 1952; March 31, 1955; 1139; Kahn, Legal Appraisal 'New' Clayton Acts, 293; Rostow, Act: Power Purpose? Ill.L.Rev. 745. Numerous Acts contain exemptions laws: (1946), (all labor organizations); McCarran-Ferguson 1013 (1952), (insurance companies); Webb-Pomerene (limited exemption associations); Capper-Volstead 291, (1927), (farm cooperatives); Interstate Commerce 5(11) (carriers participating approved transaction); Aeronautics 494 (exemption ordered CAB). carefully regulated country's businesses: Natural Gas 717f, 717f (natural Communications 307(a) (limits stations); 481(d) (1951), entry); Motor Carrier 307 (motor vehicle carriers). fixing areas legislature: Reed-Bulwinkle 5b (railroad agreements); 492 (approval transportation Miller-Tydings (resale maintenance); Shipping 814 (water carriers' agreements). Combination instances encouraged: 221(a), 222(c)(1) 221(a) 222(c)(1); 824a(b), 824a(b); encourage evident farmers barred crops workers told commerce, work minimum wage. Fair Labor Standards 206 206. 261—313, 'Exemptions Coverage.' Cong.Rec. 3151: 'Mr. Kenna. President, disposition delay vote bill, ask, permission, Vermont touching section: "Every trade, etc.' committee, indicate, engaged Territories, Territories energy, propriety generally, calling way crime proposed act? myself understood, am clear— Edmunds. understand Senator. Suppose citizen Kentucky dealing shorthorn cattle virtue comes Mexico period, conceded Mexico; committee bill man culprit? Anybody known word 'monopoly,' apply it, all; sure my friend that.' 3152: Hoar. permitted (I suppose impropriety it), precise West Virginia, difficulty answered, agreed answer, term signifies—I signification was, satisfied signification, this: engrossing man's self men engaging him. 'Of King inhibition acquire article, suppose, therefore, Virginia intelligence, breeder horses raiser cattle, artisan kind, got whole nobody monopolist, engrossing, buying 999. 74, 522, 813—814, 1140—1141; Socony-Vacuum 310 150, 226, 811, 846, 1129, paragraph, Apex Hosiery Leader, 469, 501, 982, 996, 1311; 515. Stocking Mueller, Case XLV Rev. 29, 54; Cole, Change, XLIV 61; Wilcox, TNEC 21, 11; 39; p. 43; Neal, Trans-America Case, Stan.L.Rev. 179, 205, 213. 173, 936, 1260; cf. 745, 753—763; 1193. Chamberlin, Theory Monopolistic 527, 1124; 610, 881, 1277; (Indiana) 163, 421, 427, 926. Maple Flooring Mfrs' Ass'n 268 563, 579, 578, 583, 1093: outset situation presented record, remembered announced arising disclosed opinions read recognition cases, earlier applied.' businesses scope. refers problem now Story Paterson 555, 248, 544, larger Recovery, proven allegations scope issue. 560, 249. Indiana Farmer's Guide Prairie Farmer 293 182, 356, ruled farm-paper north Lorain Journal 342 143, 181, 162, geographical area (dissemination news community surrounding territory). monopolized. Also, 1124, 1533, market' unreasonable (or monopolize) 'rolled steel' 11-state Women's dresses 'original design,' Fashion Originators' Guild Comm., 312 457, 703, 949; 'first run' pictures, services agency, Associated Press, D.C.S.D.N.Y., 362, 326 1416, 2013, newspaper advertising distinguished dissemination, designated parts commerce. All monopolize. involve Hand aluminum; refused aluminum. virgin regulate supply latter competitor. Consequently, particularly helpful '62. beating pulp vat filled water fibers become saturated gelatinous texture. Resulting translucent oil grease. 'Glassine finishing polished metal rollers pressure. develops gloss characteristic greaseproof, sealed heat, coated. appropriate lacquers waxes printed.' '63. 'Glassine. types, 90% printing legible affords transparency. 'Moisture lacquered good tearing breakage runs ease equal printed faster run bag machines. rancidity-inducing ultraviolet rays. dimensional stability durable cold weather 'Printed basis appearance. easily laminated others.' Amer. 48—49. eighteen classifications: Bread; Breads; Sweet Goods; Meat; Candy; Biscuits; Foods; Chips, Pop Corn Snacks; Cereals; Produce; Goods Textiles; Cigarettes; Butter; Chewing Gum; Products; Cheese; Oleomargarine. Scitovsky, Welfare (1951) 396; Bain, Pricing, Distribution, Employment (1953 rev.ed.), 52. '132. today obstacle '133. represented disadvantage '134. prices, parchment, '135. DuPont, reducing differential objective effort Each reduction attract See, e.g., 4846. '140. Some users sensitive not. Users business: General Foods, Armour, Curtiss cracker unwilling reduced, '141. slips away hits precarious users, profit margins low, user's Examples losses bar wraps 30's, late 40's, packaging. '142. reduced expand intent competitors. '143. Reductions conditions warranted. reductions, relationship gained reduction, investment. lowered others, motive reduction. '144. cost, temporarily gain '145. declined, 1935, raw postponed reductions 1938 1939. Subsequent increases 1947.' References: Normally waxing. greatly depending humidity conditions. levels chart flavor volatiles Plastic special sealing techniques, Not affected greases penetrated (5) listed; processes, formulations, coatings, treatments, thicknesses indicated. Times—Picayune said: 'For exist. meaningfully encompass range. circle narrowly which, variations turn; 'cross-elasticities demand' small.' 64. quotes Amer.Economic 48—49, Unfortunately, fails quote state: (trial) notwithstanding, 'competition' wrappers narrower differentiated cross elasticity gives continuing power.' 56. 3549, GX—392. contains reports prepared ignore E.g., 3651, 3678, 3724, 3739. 4070. interesting 70% relevant. 24; GX—1001, 3253; GX—1002, 3257 3260. parties divide se 596—599, 973—975, supplementary providing interchange tightened denied went pool—all Lead 332 319, 328, 1634, 1638, 2077. Griffith, 100, 107, 941, 945, 1236: prevention destruction.' 602; GX—1087, 3288; GX—1109, 3301. 633. adverse Commissioner Customs, persuaded Customs reclassification 545 GX—2487, 3383—3408. principles Transparent-Wrap Stokes Smith 329 637, 646, 615, GX—2811, 6073—6074. 3563. 52,000 $866,666.67 cash, or.$16.67 share. F. 22; DX—735, 5402. surrender value $12,129,600 48,000 interests, sum $252.70 5403. 4155. 60—63, authors rayon earned 64.2% investment 1920, attracting loss 1921, roughly 32%. firms drop. 1930, 20, 5% suffered loss. 'From beginning depression succeeding recovery recession 29.6 cent 6.3 cent.' 62—63. officials absconded affiliate. 615—618. 2733—2736. memorandum submitted prospective entrants. 3893. 52(a), 4154—4155. 805—806, 1137, opinion. Reason': Workable Monopoly? 348, 364. 322. peculiarly frustrating behavior once 106, 632, 663. 'market.' Majority 1005. 10, dissent. 431.

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