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HOUSE OF REPRESENTATIVES
JANUARY 1, 1950. . The staff of the Subcommittee on Study of Monopoly Power of the Committee on the Judiciary has prepared the following collection of laws known loosely as the “antitrust laws." It is believed to be the most complete collection of its kind available and is current through January 1, 1950. They were first published as part of hearings entitled “Study of Monopoly. Power, Serial 14, Part I,” but, because of their value to lawyers and students throughout the country, they have been printed separately as a public service.
Agricultural Adjustment Act-
71 72 73 73 74 75 75 76 77
78 78 79 80
PART IV. PROCESS AND PROCEDURE
THE ANTITRUST LAWS-A BASIS FOR ECONOMIC
I. PROHIBITION AND PENALTY
SHERMAN ACT 1
SECTION 1.2 Every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations, is hereby declared to be illegal: Provided, That nothing herein contained shall render illegal, contracts or agreements prescribing minimum prices for the resale of a commodity which bears, or the label or container of which bears, the trade mark, brand, or name of the producer or distributor of such commodity and which is in free and open competition with commodities of the same general class produced or distributed by others, when contracts or agreements of that description are lawful as applied to intrastate transactions, under any statute, law, or public policy now or hereafter in effect in any State, Territory, or the District of Columbia in which such resale is to be made, or to which the commodity is to be transported for such resale, and the making of such contracts or agreements shall not be an unfair method of competition under section 5, as amended and supplemented, of the act entitled "An Act to create a Federal Trade Commission, to define its powers and duties, and for other purposes”, approved September 26, 1914: Provided further, That the preceding proviso shall not make lawful any contract or agreement, providing for the establishment or maintenance of minimum resale prices on any commodity herein involved, between manufacturers, or between producers, or between wholesalers, or between brokers, or between factors, or between retailers, or between persons, firms, or corporations in competition with each other. Every person who shall make any contract or engage in any combination or conspiracy hereby declared to be illegal shall be deemed guilty of a misdemeanor, and, on conviction thereof, shall be punished by fine not exceeding $5,000, or by imprisonment not exceeding one year, or by both said punishments, in the discretion of the court.
Sec. 2. Every person who shall monopolize, or attempt to monopolize, or combine or conspire with any other person or persons, to monopolize any part of the trade or commerce among the several States, or with foreign nations, 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.
1 26 Stat. 209; 15 U. S. C. 1–7; Public, No. 190, 51st Cong. (1890).
2 As amended by Miller-Tydings Act, 50 Stat. 693 ; 15 U. S. C. 1 ; Public, No. 314, 75th Cong. (1937).