Girdler Anti-Trusted

No corporation engaged in interstate commerce shall acquire . . . the whole or any part of the stock . . . of another corporation engaged in interstate commerce, where the effect of such acquisition may be to substantially lessen competition between [them].--Clayton Anti-Trust Act.

Late last summer when steel operations were down to 20% of capacity. Tom Mercer Girdler boldly announced a $323,000,000 merger of his Republic Steel Corp. and Corrigan, McKinney (TIME, Sept. 10). Steelman Girdler slaved over the registration of $78,000,000 of securities and lined up enough stockholders to assure the deal's success.

Last week in Cleveland without the slightest warning the Department of Justice cracked down with an anti-trust suit to block Tom Girdler's merger. At the same time suit was filed against seven individuals under an obscure section of the Clayton Act, charging interlocking directorships in ten independent steel companies including Republic and Corrigan, McKinney.

Attorney General Cummings denied that the two suits indicated any change in the Administration anti-trust policy, but just what that policy was remained as dark a mystery as it has been in every Administration for the past 45 years. Said Steelman Girdler: "We are amazed."

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