Dillon in Court

Clarence Dillon, Wall Street banker who flings a swift & broad flail in his financial harvestings,* struck twice against litigation, according to two complaints lodged last week in Manhattan against him. One was that he had created an asbestos trust, the other that he had not given a _go-be-tween sufficient commission in an oil deal.

The Asbestos Corporation Ltd., which Mr. Dillon has just organized, is the concern that the Federal District Attorney at Manhattan, Charles R. Tuttle, considers a combination in restraint of trade and which he wants broken up. His reasons: Three companies--Canadian Johns-Manville Co. Ltd., Quebec Asbestos Corp. Ltd. (a subsidiary of Philip Carey Mfg. Co. of Ohio) and the Keasby Mattison--control 80% of the world's supply of that fibrous-like rock called asbestos; those companies agreed to sell all their output for five years to one of Mr. Dillon's smart young men, duVal R. Goldthwaite; he made purchasing contracts with Johns-Manville Co. Ltd., and Philip Carey Mfg. Co. who manufacture most of the U. S.'s asbestos products; then Asbestos Corp. Ltd. was formed; then the price of asbestos products jumped up. District Attorney Tuttle asked the court to order the contracts, at least, nullified to break up what he thinks is a bad combination of asbestos producers and manufacturers.

The disgruntled go-between was Emmet Queen, who claims that it was he, not Beman Gates Dawes (brother of the Vice President) who brought about Mr. Dillon's recent sale of the Pure Oil Co. to the Ohio Cities Gas Co. for $23,500,000. Mr. Queen asserts that Mr. Dawes was Mr. Dillon's "dummy" in the deal, and wants $1,100,000 go-between commission for himself.

* National Cash Register, Goodyear Tire & Rubber and Dodge Bros, re-organizings.