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Topic: Sherman Act

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	Sherman Antitrust Act - Wikipedia, the free encyclopedia
		The Act was signed by President Benjamin Harrison in 1890 and was named for its author, Senator John Sherman of Ohio.
		The Act was not used in court cases for some years, but Theodore Roosevelt used the Act extensively in his antitrust campaign, managing to divide the Northern Securities Company.
		Some alleged violations of the Sherman Act are not prosecuted criminally, but rather are adjudicated in civil proceedings under a "rule of reason" standard, which examines the economic benefits and harm of allegedly anti-competitive conduct to determine whether it is, on balance, beneficial to consumers and should be permitted to continue.
	en.wikipedia.org /wiki/Sherman_Antitrust_Act (1323 words)

	AllRefer.com - Sherman Antitrust Act (U.S. History) - Encyclopedia
		Sherman Antitrust Act, 1890, first measure passed by the U.S. Congress to prohibit trusts; it was named for Senator John Sherman.
		The act, based on the constitutional power of Congress to regulate interstate commerce, declared illegal every contract, combination (in the form of trust or otherwise), or conspiracy in restraint of interstate and foreign trade.
		The Hart-Scoss-Rodino Antitrust Improvement Act (1976) made it easier for regulators to investigate mergers for antitrust violations, but few mergers were blocked during the merger boom of the 1980s, when the FTC and Justice Dept. adopted a looser interpretation of antitrust legislation.
	reference.allrefer.com /encyclopedia/S/ShermanA.html (517 words)

	Sherman - Wikipedia, the free encyclopedia
		Sherman is a surname that originated in the Anglo-Saxon language.
		Sherman (town), New York, in Chautauqua County, New York.
		Sherman (village), New York, a village in the northern part of the town.
	en.wikipedia.org /wiki/Sherman (159 words)

	Sherman Antitrust Act and monopolies
		The Sherman Antitrust Act of 1890 was the first measure passed by the U.S. Congress to prohibit abusive monopolies, and in some ways it remains the most important.
		Sherman was an expert on the regulation of commerce and was the chief author of the Sherman Antitrust Act.
		One was the Clayton Antitrust Act, which elaborated on the general provisions of the Sherman Act and specified a number of illegal practices that either contributed to or resulted from monopolization.
	www.bellevuelinux.org /sherman.html (1483 words)

	HighBeam Encyclopedia - Sherman Antitrust Act (Site not responding. Last check: 2007-10-25)
		SHERMAN ANTITRUST ACT [Sherman Antitrust Act] 1890, first measure passed by the U.S. Congress to prohibit trusts; it was named for Senator John Sherman.
		In class action suit by vitamin buyers against vitamin distributors, U.S. Supreme Court holds that Sherman Act does not reach foreign antitrust activity occurring within and outside United States that causes injury to foreign customer where that injury is independent of any injury to domestic customer.
		Second Circuit dismisses claim for excessive service fees for EURO currency exchanges holding that Sherman Act does not reach foreign antitrust activity occurring within and outside United States that causes injury to foreign customer where that injury is independent of any injury to domestic customer.
	www.encyclopedia.com /html/S/ShermanA1.asp (722 words)

	An Antitrust Primer
		The Supreme Court has ruled that violations of the Sherman Act also are violations of Section 5, but Section 5 covers some practices that are beyond the scope of the Sherman Act.
		Section 7 of the Clayton Act prohibits mergers and acquisitions where the effect "may be substantially to lessen competition, or to tend to create a monopoly." Determining whether a merger will have that effect requires a thorough economic evaluation or market study.
		Section 7A of the Clayton Act, called the Hart-Scott-Rodino Act, requires the prior notification of large mergers to both the FTC and the Justice Department.
	www.ftc.gov /bc/compguide/antitrst.htm (553 words)

	Article 2
		The latter view is also supported by comments on the trusts in Sherman's autobiography to which are devoted but five pages of 1216, mostly consumed again by his March 21 speech, a printing of the final bill, and a scant legislative history (in contrast, he devotes 77 pages to his discussion of the tariff).
		Sherman's sentiments regarding the control of "one man" and the profits accumulated by trusts, concomitant with his rejection of cost-efficiencies being realized in the form of lower prices, belies a nonefficiency concern for the combination issue.
		Robert Bork believes that evidence of the Sherman Act's single-minded concern for consumer welfare is to be gleaned from the public statements of the Senate Judiciary Committee which framed the Act.
	www.sp.uconn.edu /~langlois/E382/Hazlett.html (4617 words)

	Sherman Antitrust Act (1890) (Site not responding. Last check: 2007-10-25)
		These two provisions, which comprise the heart of the Sherman Act, are enforceable by the Department of Justice through litigation in the federal courts.
		For more than a decade after its passage, the Sherman Act was invoked only rarely against industrial monopolies, and then not successfully, chiefly because of narrow judicial interpretations of what constitutes trade or commerce among states.
		One of these was the Clayton Antitrust Act, which elaborated on the general provisions of the Sherman Act and specified many illegal practices that either contributed to or resulted from monopolization.
	www.owlnet.rice.edu /~engi202/sherman.html (492 words)

	Sherman Antitrust Act - MSN Encarta
		Sherman Antitrust Act, basic federal enactment regulating the operations of corporate trusts, passed by the U.S. Congress in July 1890, through the efforts of Senator John Sherman of Ohio.
		The Sherman Act has been amended and supplemented by several subsequent enactments.
		Most notable among these enactments was the Clayton Antitrust Act of 1914.
	encarta.msn.com /encyclopedia_761566277/Sherman_Antitrust_Act.html (95 words)

	The Truth About Sherman - Mises Institute
		In fact, evidence exists that a major political function of the Sherman Act was to serve as a smoke screen behind which politicians could grant tariff protection to their big business constituents while assuring the public that something was being done about the monopoly problem.
		Sherman on Monday [September 29, 1890] should not be overlooked, for it was one of confession." Apparently, Sen. Sherman withdrew his speech from the Congressional Record for "revision," but a reporter obtained an unabridged copy of the original.
		The Sherman Act won legislators votes and campaign contributions from farmers and small businessmen who thought antitrust regulation would protect them from their more efficient competitors, and the tariff bill was supported by all U.S. manufacturers, both large and small.
	www.mises.org /fullstory.aspx?Id=331 (3563 words)

	Sherman Act, 1890
		The Sherman Antitrust Act has stood since 1890 as the principal law expressing our national commitment to a free market economy in which competition free from private and governmental restraints leads to the best results for consumers.
		The Sherman Act outlaws all contracts, combinations and conspiracies that unreasonably restrain interstate and foreign trade.
		Sherman Act violations involving agreements between competitors usually are punished as criminal felonies.
	www.classbrain.com /artteenst/publish/article_127.shtml (632 words)

	CONSORTIUM AND STANDARDS LIST (Site not responding. Last check: 2007-10-25)
		The Act is named after Senator John Sherman, who first proposed the Act to address growing concern over the rapidly increasing prominence of large corporations, corporate trusts and business combinations in the US economic landscape toward the end of the nineteenth century.
		Although the Sherman Act had immediate potential to aid the federal government in addressing concerns over increasing corporate power, its potential was not realized for several years.
		The reach of the Sherman Act increased during the Taft and Wilson administrations, with the enactment of the Clayton Antitrust Act and the establishment of the Federal Trade Commission in 1914.
	www.consortiuminfo.org /antitrust/sherman.shtml (340 words)

	usnews.com: The People's Vote: Sherman Anti-Trust Act (1890)
		The Sherman Antitrust Act of 1890 was the first measure passed by the U.S. Congress to prohibit trusts.
		Ogden, and the Interstate Commerce Act.) The Sherman Anti-Trust Act passed the Senate by a vote of 51–1 on April 8, 1890, and the House by a unanimous vote of 242–0 on June 20, 1890.
		The Sherman Act was designed to restore competition but was loosely worded and failed to define such critical terms as “trust,” “combination,” “conspiracy,” and “monopoly.” Five years later, the Supreme Court dismantled the Sherman Act in United States v.
	www.usnews.com /usnews/documents/docpages/document_page51.htm (622 words)

	Antitrust Laws (Site not responding. Last check: 2007-10-25)
		They are the Sherman Act, the Robinson-Patman Act, the Clayton Act, and the FTC Act.
		The FTC Act, among other things, created the Federal Trade Commission which is responsible (along with the Justice Department in the case of Sherman Act violations) for the enforcement of antitrade laws.
		As was already mentioned, the Sherman Act requires an effect on interstate commerce, though this requirement has been very broadly interpreted by the courts, and thus, has lowered the burden of proof required to substantiate an effect on interstate commerce.
	www.awwa.org /Sections/Sectionlibrary/Antitrust.cfm (1572 words)

	Sherman Antitrust Act
		Every person who shall make any such contract or engage in any such combination or conspiracy, shall be deemed guilty of a misdemeanor, and, on conviction thereof, shall be punished by fine not exceeding five thousand dollars, or by imprisonment not exceeding one year, or by both said punishments, in the discretion of the court.
		The several circuit courts of the United States are hereby invested with jurisdiction to prevent and restrain violations of this act; and it shall be the duty of the several district attorneys of the United States, in their institute proceedings in equity to prevent and restrain such violations.
		That the word "person," or "persons," wherever used in this act shall be deemed to include corporations and associations existing under or authorized by the laws of either the United States, the laws of any of the Territories, and the laws of any State, or the laws of any foreign country.
	www.civics-online.org /library/formatted/texts/sherman_antitrust.html (264 words)

	John Sherman
		Sherman became (1867) chairman of the Senate finance committee and played a leading role in government finance in the Reconstruction period.
		Later, however, he forced the Resumption Act of 1875 through the Senate, and as Secretary of the Treasury (1877–81) under President Hayes, he directed the implementation of the act.
		Sherman Silver Purchase Act - Sherman Silver Purchase Act, 1890, passed by the U.S. Congress to supplant the Bland-Allison Act of...
	www.factmonster.com /ce6/people/A0844873.html (351 words)

	AmericanHeritage.com / The Other Sherman’s Legacy
		Both politically and economically Sherman was deeply conservative, and he would have been horrified had he lived to see what one historian has described as how the Sherman Act helped awaken “Congress to the realization of the vast power wrapped up in the Commerce Clause.”
		Sherman was a friend of business; he backed the legislation that immortalized him only from political necessity.
		It was called the “Sherman Act,” he huffed in his autobiography, “for no other reason that I can think of except that Mr.
	www.americanheritage.com /articles/magazine/ah/1990/4/1990_4_24.shtml (1572 words)

	Litigation Professional Information Center: New Duties Set by Telecommunications Act Aren't Enforceable Via Sherman Act ...
		Therefore, the competitor's allegations that the ILEC breached affirmative interconnection duties imposed by the Telecom Act but not by prior antitrust law do not state a claim under the Sherman Act, even though the competitor alleged that the ILEC thereby sought to exclude it from the market.
		But the Telecom Act "imposes new duties that may be enforced in accordance with its own provisions but not under the Sherman Act unless the conduct otherwise would have supported a claim under the Sherman Act absent the authority of the Telecommunications Act," the court said.
		The instant Sherman Act claim alleged only breaches of duties that did not exist prior to enactment of the Telecom Act and thus was properly dismissed, the court concluded.
	litigationcenter.bna.com /pic2/lit.nsf/id/BNAP-5MYKGT (862 words)

	The Truth About Sherman [Free Republic]
		The Gold Standard Act of 1890, which officially established the gold standard in America, was the culmination of a twenty-year battle between inflationists, who favored unlimited government purchase of silver (the "Free Silver" movement), and the advocates of sound money based on the gold standard.
		The 1873 Bland-Allison Act required the Treasury to purchase between $2 million and $4 million worth of silver per month, and the 1890 Sherman Silver Purchase Act required the government to buy increasing amounts of silver, paid for in Silver Certificates and Treasury Notes that were redeemable in gold.
		The 1896 election was the high tide of the free silver movement, characterized by William Jennings Bryan's famous "cross of gold" speech in which he denounced the deflation that accompanied the gold standard and advocated inflationary finance as the key to prosperity.
	www.freerepublic.com /forum/a3829fd40156a.htm (4200 words)

	Law Firm of Pepper Hamilton LLP \| Publications
		Congress based the passage of Section 1 of the Sherman Act on its power to regulate interstate commerce and through the statute declared illegal every contract, combination, or conspiracy that unreasonably restrains interstate or foreign trade.
		Instead the district court should have relied solely on the substantive provisions of the Sherman Act, which determine whether a defendant’s conduct is prohibited.
		Prior to the enactment of the Sherman Act, several states had similar laws, but they were limited to the regulation of intrastate business.
	www.pepperlaw.com /pepper/publications_article.cfm?rid=540.0 (2589 words)

	DOJ/Antitrust - International Guidelines
		The Sherman Act provides that corporate defendants may be fined up to $10 million, other defendants may be fined up to $350,000, and individuals may be sentenced to up to 3 years imprisonment.5 The Department has sole responsibility for the criminal enforcement of the Sherman Act.
		Just as the acts of U.S. citizens in a foreign nation ordinarily are subject to the law of the country in which they occur, the acts of foreign citizens in the United States ordinarily are subject to U.S. law.
		For example, the Agencies will not challenge foreign acts of state if the facts and circumstances indicate that: (1) the specific conduct complained of is a public act of the sovereign, (2) the act was taken within the territorial jurisdiction of the sovereign, and (3) the matter is governmental, rather than commercial.
	www.usdoj.gov /atr/public/guidelines/internat.htm (10672 words)

	[No title]
		Sherman had nothing whatever to do with it beyond holding a place for it on the Senate calendar by putting in an impossible bill of his own.
		The broad and just policy of the framers of the Constitution was to provide for the protection of trade and commerce with foreign nations and among the several States, and monopolies thereof, etc., against the evils that had afflicted the people in the experience of civilized mankind in hydraheaded forms.
		It was believed that the timehonored maxim of the law, "haeret in littera, haeret in cortice," and the Holy Scripture, "For the letter killeth, but the spirit giveth life," would aid the executive and judicial authorities in construing and applying the statute justly in all cases as they should arise.
	www.union.edu /PUBLIC/ECODEPT/kleind/eco024/documents/monopoly/edmunds.doc (2160 words)

	Grappling with Reach of Sherman Act in Suits by Non-U.S. Consumers: Nixon Peabody LLP
		Section 1 of the Sherman Act makes illegal “every contract, combination...or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations.” 15 U.S.C. Section 1 is the primary prosecutorial weapon against price-fixing conspiracies.
		First, the majority noted that the Sherman Act applies to “trade or commerce with foreign nations.” The immediate acts of which the plaintiff complained involved commerce between foreign nations.
		Section 4A of the Clayton Act, 15 U.S.C. §15(a), permits any person who shall be “injured in his business or property by reason of anything forbidden in the antitrust laws” to bring suit in district court, and, if successful, to recover treble damages, costs, and attorneys’ fees.
	www.nixonpeabody.com /publications_detail3.asp?Type=P&PAID=11&ID=379 (2650 words)

	[No title]
		Having declared foreign states subject to the Sherman Act in the circumstances described, the next question is whether sovereign immunity operates as a bar to the federal (or state) courts entertaining such an action.
		It is true that abrogation of the act of state doctrine in this field would deprive the judiciary of the right to invoke or apply that doctrine, and to that extent it limits judicial freedom.
		After all, the effect of the act of state doctrine is to cause the courts not to exercise their otherwise proper jurisdiction, and so the only effect of the act of state doctrine=s abrogation is to free the courts from that abstention.
	www.senate.gov /comm/judiciary/general/testimony.cfm?id=1142&wit_id=3267 (1245 words)

	American Antitrust Institute - Links (Site not responding. Last check: 2007-10-25)
		The McCarran-Ferguson Act Adopted by Congress in 1945, the McCarran-Ferguson Act (cited as 15 USC 1011, et seq.) clarifies the power of individual States to regulate insurance and limits the application of many federal statutes to that industry.
		The Act was amended in 1966 to exempt the combining of professional football leagues.
		Antitrust Criminal Penalty Enhancement and Reform Act of 2004 As explained in a Kilpatrick Stockton report (June, 2004), this Act increases the maximum Sherman Act corporate fine to $100 million, the maximum individual fine to $1 million, and the maximum Sherman Act jail term to 10 years.
	www.antitrustinstitute.org /links/codes.cfm (1234 words)

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