Steel: The Price-Fixing Verdict

Since John F. Kennedy in 1962 forced the nation's steelmen to pull back a $6-a-ton price boost, federal grand juries have voted seven indictments accusing the steel companies of conspiring to fix prices. In the most important of these cases, the Justice Department last week won a big, if qualified, victory.

Eight major steel companies withdrew their original pleas of innocence and pleaded nolo contendere (no contest) to criminal charges that they had rigged some prices of the commonest grade of steel, carbon steel sheets, which go into autos, washing machines, kitchen cabinets, refrigerators, office furniture and many other consumer...

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