The Department of Justice last week fired its antitrust guns at the biggest target of all. In a federal district court in Newark, N.J., it charged American Telephone & Telegraph Co., biggest U.S. industrial corporation (gauged by its $5 billion in assets) and its manufacturing subsidiary, Western Electric Co., Inc., with "conspiracy to monopolize" the U.S. telephone business. The Government's attack, in preparation for more than a year, was no surprise. But not even A.T. & T. expected such a blanket barrage.
The Government's 73-page complaint charged that A.T. & T. had eliminated competition by patent restrictions, purchase of competing...
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