THE GOVERNMENT: Halfway Mark

On the morning of June 1, 1938, black-robed Federal Judge Francis Gordon Caffey looked down from his huge bench in Manhattan's gleaming new U. S. courthouse upon a bank of lawyers. Standing at the flat, mahogany counsel table with a sheaf of notes, earnest, tousle-headed Walter Lyman Rice, trust-busting Special Assistant to the U. S. Attorney General, was ready to give his opening outline of a lawsuit to dissolve $253,000,000 Aluminum Co. of America as a monopoly in restraint of trade.

Judge Caffey put in a word first. Said he: "May I inject...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!