COMMITTEE ON THE JUDICIARY

JOSEPH R. BIDEN, JR., Delaware, Chairman

EDWARD M. KENNEDY, Massachusetts
ROBERT C. BYRD, West Virginia
HOWARD M. METZENBAUM, Ohio
DENNIS DECONCINI, Arizona
PATRICK J. LEAHY, Vermont
HOWELL HEFLIN, Alabama
PAUL SIMON, Illinois

STROM THURMOND, South Carolina
ORRIN G. HATCH, Utah

ALAN K. SIMPSON, Wyoming

CHARLES E. GRASSLEY, Iowa

ARLEN SPECTER, Pennsylvania

GORDON J. HUMPHREY, New Hampshire

MARK H. GITENSTEIN, Chief Counsel

DIANA HUFFMAN, Staff Director

DENNIS W. SHEDD, Minority Chief Counsel

SUBCOMMITTEE ON ANTITRUST, MONOPOLIES AND BUSINESS RIGHTS

HOWARD M. METZENBAUM, Ohio, Chairman

DENNIS DECONCINI, Arizona
HOWELL HEFLIN, Alabama
PAUL SIMON, Illinois

EDWARD M. KENNEDY, Massachusetts

STROM THURMOND, South Carolina
ARLEN SPECTER, Pennsylvania
GORDON J. HUMPHREY, New Hampshire
ORRIN G. HATCH, Utah

EDDIE CORREIA, Chief Counsel and Staff Director
KENNETH G. STARLING, Minority Chief Counsel

(II)

Text of S. 443—A bill to amend the Clayton Act regarding liability and

coverage.

CHRONOLOGICAL LIST OF WITNESSES

Synar, Hon. Michael, of Oklahoma, U.S. House of Representatives...

Rule, Hon. Charles F.: Acting Assistant Attorney General, Antitrust Division..

Gradison, Hon. Heather J., Chairwoman, Interstate Commerce Commission,

accompanied by Dan Campbell, Deputy General Counsel, Interstate Com-

merce Commission

Dempsey, William H., Association of American Railroads, Washington, DC,

accompanied by J. Thomas Tidd, Vice President of Law, Association of

American Railroads, Washington, DC; Frederick D. Palmer, General Man-

ager, Western Fuels Association, Inc., Washington, DC; and Paul M. Dono-

van, of LaRoe, Winn & Moerman, Washington, DC...

ALPHABETICAL LISTING AND MATERIALS SUBMITTED

Campbell, Dan: Testimony

Dempsey, William H.:

Testimony.

90

Prepared statement

94

Attachment 1-Cases applying the Keogh doctrine to other indus-

tries.........

107

Attachment 2-Express and implied immunities in regulated indus-

tries compared to the "immunity" against injunctive relief given

by the Clayton Act Sec. 16 proviso...

110

Attachment 3-Monopoly pricing unaccompanied by anticompetitive

conduct does not violate the antitrust laws..

114

Prepared statement before the Subcommittee on Transportation, Tour-

ism, and Hazardous Materials of the House Committee on Energy and

Commerce on the Staggers Rail Act of 1980, May 28, 1987

Attachment A-Comparative industry ROE rankings.

Attachment B-Rail rates have declined since Staggers.

Attachment C-Comparative 1985 rates of return before and after

adjustment for depreciation and deferred taxes per ex parte 393

(Sub-No. 1).......

Attachment D-Recent public utility estimates of return on equity....

(III)