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April 22, 1953

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Headlines from April 22, 1953

U. S. Files Civil Cartel Suit Naming 5 Big Oil Concerns; CARTEL SUIT NAMES 5 BIG OIL COMPANIES

By Luther A. Hustonspecial To the New York Times

US files civil suit under Sherman Anti-Trust and Wilson Tariff Acts asking permanent injunction to restrain 5 major US cos from continuing alleged illegal conspiracy to control prices, output and distribution of most of world's petroleum and petroleum products begun in '28; NJ Standard, Socony-Vacuum, Calif Standard, Tex Co and Gulf Oil named defendants; 33 subsidiaries and affiliates listed as having been used to effectuate conspiracy; motions filed for submission of documents in US and those of affiliates abroad and in US; charges and some effects of alleged cartel listed; US says cartel begin with formation of 'pool assn' in London under Achnarry Agreement among NJ Standard, Royal Dutch Petroleum, Shell Transport & Trading Co and Anglo-Iranian Oil; 20 other agreements cited; group allegedly controlled 81.5% of world's estimated crude reserves and 90% outside of US, USSR and Mex

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Historical Context for April 22, 1953

In 1953, the world population was approximately 2,634,106,235 people[โ€ ]