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/ H.S. Congress. House.

HEARINGS

BEFORE THE

ANTITRUST SUBCOMMITTEE
(Subcommittee No. 5)

OF THE

COMMITTEE ON THE JUDICIARY.
HOUSE OF REPRESENTATIVES

EIGHTY-SEVENTH CONGRESS

FIRST SESSION

ON

H.R. 71

A BILL TO SUPPLEMENT THE ANTITRUST LAWS OF THE
UNITED STATES AGAINST RESTRAINT OF TRADE OR
COMMERCE BY PREVENTING MANUFACTURERS OF MOTOR
VEHICLES FROM FINANCING AND INSURING THE SALES
OF THEIR PRODUCTS

73326

JUNE 7, 8, 9, 28, 29, AND 30, 1961

PART 2

Printed for the use of the Committee on the Judiciary

Serial No. 11

U.S. GOVERNMENT PRINTING OFFICE

WASHINGTON: 1961

COMMITTEE ON THE JUDICIARY EMANUEL CELLER, New York, Chairman

FRANCIS E. WALTER, Pennsylvania
THOMAS J. LANE, Massachusetts
MICHAEL A. FEIGHAN, Ohio
FRANK CHELF, Kentucky
EDWIN E. WILLIS, Louisiana

PETER W. RODINO, JR., New Jersey
E. L. FORRESTER, Georgia
BYRON G. ROGERS, Colorado
HAROLD D. DONOHUE, Massachusetts
JACK BROOKS, Texas

WILLIAM M. TUCK, Virginia

ROBERT T. ASHMORE, South Carolina
JOHN DOWDY, Texas

LESTER HOLTZMAN, New York
BASIL L. WHITENER, North Carolina
ROLAND V. LIBONATI, Illinois
J. CARLTON LOSER, Tennessee
HERMAN TOLL, Pennsylvania

ROBERT W. KASTENMEIER, Wisconsin
M. BLAINE PETERSON, Utah

WILLIAM M. McCULLOCH, Ohio
WILLIAM E. MILLER, New York
RICHARD H. POFF, Virginia
WILLIAM C. CRAMER, Florida
ARCH A. MOORE, JR., West Virginia
GEORGE MEADER, Michigan
JOHN V. LINDSAY, New York
WILLIAM T. CAHILL, New Jersey
JOHN H. RAY, New York

GARNER E. SHRIVER, Kansas
CLARK MACGREGOR, Minnesota
CHARLES MCC. MATHIAS, JR., Maryl nd
JAMES F. BATTIN, Montana
JAMES E. BROMWELL, Iowa

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Arnold, Thurman, of Arnold, Fortas & Porter, Washington, D.C... 1341

Cassat, David B., president, Interstate Finance Corp., Dubuque,

Iowa...

Dixon, Hon. Paul Rand, Chairman; accompanied by John Wheelock,
Executive Director, J. V. Buffington, assistant to Chairman, and
J. M. Henderson, General Counsel, Federal Trade Commission_
Donner, Frederic G., chairman, General Motors Corp.; accompanied
by George Russell, executive vice president, and A. F. Power, vice
president and general counsel, General Motors Corp. -

Gossett, William T., vice president and general counsel; accompanied

by Theodore O. Yntema, vice president and chairman, finance

committee, Ford Motor Co.; and J. B. Lackey, vice president,

Ford Motor Credit Co.-.

394

507

Jones, Paul, chairman of the executive committee, American Finance

Conference..

Kefauver, Hon. Estes, a U.S. Senator from the State of Tennessee

(statement presented by Bernard Fensterwald, Jr., staff director,

Senate Antitrust and Monopoly Subcommittee of the Committee

on the Judiciary) -

Loevinger, Hon. Lee, Assistant Attorney General; accompanied by
John Duffner, Larry Williams, and Sam Gordon, attorneys, Anti-
trust Division, Department of Justice_-_

Misch, F. W., vice president, finance, Chrysler Corp.; accompanied by
W. C. Flaherty, director, business research, and J. Paul Smith,
resident attorney, Chrysler Corp--

365

865, 910

Mullins, R. L., president of the Wolfe City National Bank of Wolfe

City, Tex....

Patman, Hon. Wright, a Representative in Congress from the State

of Texas..

Steere, David D., president, Allied Finance Co., Dallas, Tex..

Stradella, Charles G., chairman of the board, General Motors Accept-
ance Corp.; accompanied by A. F. Power, general counsel, General
Motors Acceptance Corp. and MIC..

428, 464

Utterback, Earl M., executive secretary, Indiana State Teachers
Retirement Fund..

316

Werner, Louis, Peat Marwick Mitchell & Co., Chicago, Ill.; accom-
panied by George Omacht..

404

Whiteside, Charles B., vice president and director of the Merchants
National Bank, Fort Smith, Ark_

Yntema, Theodore O., vice president, Ford Motor Co., and chairman
of the finance committee; accompanied by William T. Gossett,
vice president and general counsel of Ford Motor Co.; and Robert
S. Olson, president, and J. B. Lackey, vice president, Ford Motor
Credit Co.

1369

919, 969, 1060

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