How big is too big? In what the dissenting minority called "the most important antitrust case which has been before the court in years," the U.S. Supreme Court last week assayed the question. By a 5-to-4 vote it turned down the Justice Department Antitrust Division's attempt to prevent the sale of Los Angeles' Consolidated Steel Corp. to Columbia Steel Co., a subsidiary of U.S. Steel.
With six plants in California and one each in Arizona and Texas, Consolidated is the biggest independent steel fabricator west of the Rockies. Its sale (for $8,293,319) would give Big Steel, which already has well...
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