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North American Co. Vs. Sec
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- US Supreme Court
- Apr 01, 1946
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U.S. 686 (1946) U.S. Supreme Court North American Co. v. SECSearch
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U.S. 686 (1946) North American Co. v. SecuritiesSearch
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holding company device in the nation's electric and gas utility industries. This Court, in Electric Bond & Share Co. v. SecuritiesSearch
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managements have often included men selected by or historically related to North American. See Detroit Edison Co. v. SecuritiesSearch
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Pacific Gas & Electric Co. v. SecuritiesSearch
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of stock, can on occasion serve as a potent substitute for the more obvious modes of control. See Southern Pacific Co. v. BogertSearch
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Natural Gas Co. v. SlatterySearch
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command. To conclude otherwise is to ignore the realities of intercorporate relationships. Rochester Telephone Corp. v. UnitedSearch
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of their activities. North American is more than a mere investor in its subsidiaries. See Northern Securities Co. v. UnitedSearch
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vital to the functioning of this system. They have more than a casual or incidental relationship. Cf. Ware & Leland v. MobileSearch
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Blumenstock Bros. v. CurtisSearch
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Federal Base Ball Club v. NationalSearch
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commercial transactions involve the very essence of North American's business. See International Textbook Co. v. PiggSearch
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from its headquarters in New York City. In short, they are commerce which concerns more states than one. Gibbons v. OgdenSearch
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Minnesota Rate Cases, 230 U. S. 352 , 230 U. S. 398 . As stated by this Court in Associated Press v. LaborSearch
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thus accentuate and add materially to the interstate character of North American. Electric Bond & Share Co. v. SecuritiesSearch
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United States v. WrightwoodSearch
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Dairy Co., 315 U. S. 110 , 315 U. S. 119 . See also Santa Cruz Fruit Packing Co. v. LaborSearch
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Congress is not bound by technical legal conceptions. Commerce itself is an intensely practical matter. Swift & Co. v. UnitedSearch
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will not become the means of promoting or spreading evil, whether of a physical, moral or economic nature. Brooks v. UnitedSearch
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thus has power to make direct assault upon such economic evils as those relating to labor relations, Labor Board v. JonesSearch
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Polish Nat. Alliance v. LaborSearch
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to wages and hours, United States v. DarbySearch
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to market transactions, Stafford v. WallaceSearch
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Chicago Board of Trade v. OlsenSearch
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U. S. 1 , and to monopolistic practices, Northern Securities Co. v. UnitedSearch
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Page 327 U. S. 707 misconception was made more than forty years ago by the appellants in Northern Securities Co. v. UnitedSearch
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was following a pattern set many years ago by decisions applying the Sherman Antitrust Act, Northern Securities Co. v. UnitedSearch
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Standard Oil Co. v. UnitedSearch
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Continental Ins. Co. v. UnitedSearch
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United States v. LehighSearch
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United States v. DelawareSearch
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Dayton-Goose Creek R. Co. v. UnitedSearch
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foreclose the protection of the various interests which Congress found to be paramount. See Northern Securities Co. v. UnitedSearch
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and the enforcing court, thus enabling the assertion and protection of all shareholders' rights. See Otis & Co. v. SecuritiesSearch
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b)(1). North American's reliance on such cases as Louisville Joint Stock Land Bank v. RadfordSearch
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power to do so, we cannot question the appropriateness or propriety of its decision. Sunshine Anthracite Coal Co. v. AdkinsSearch
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b)(1) and other portions of the Act. See Landis v. NorthSearch
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Electric Bond & Share Co. v. SecuritiesSearch
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Commission rejected both claims after hearings and its determinations were sustained upon appeal. Detroit Edison Co. v. SecuritiesSearch
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arise from time to time. That is enough, however, to support legislative action. See Board of Trade of City of Chicago v. OlsenSearch
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events. Certainly there is no constitutional requirement that the status quo be maintained. See United States v. Trans-MissouriSearch
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U.S. Supreme Court North American Co. v. SECSearch
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North American Co. v. SecuritiesSearch
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North American. See Detroit Edison Co. v. SecuritiesSearch
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See Southern Pacific Co. v. BogertSearch
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