grant argued april decided may clayton act sued federal district enjoin individual six corporations violating holding individual interlocking directorates three pairs competing corporations thereafter individual resigned directorship one pair corporations filed affidavits disclaiming intention resuming directorates motion defendants granted summary judgment dismissing suit held power federal trade commission enforce exclusive jurisdiction entertain suit pp termination interlocking directorates render case moot pp abuse discretion refusing grant injunctive relief pp district dismissed government suit enjoin violations clayton act supp direct appeal affirmed victor kramer argued cause brief acting solicitor general stern acting assistant attorney general hodges daniel friedman eustace seligman argued cause hancock et appellees brief howard milman abe fortas argued cause kroger company appellee brief norman diamond samuel silverman statement opposing jurisdiction motion dismiss affirm harry wiggins harman hawkins submitted brief kress appellee justice clark delivered opinion first time since enactment clayton act called upon consider prohibitions interlocking corporate directorates government appeals judgments dismissing civil actions brought hancock three pairs corporations served director grant kress sears roebuck bond stores kroger jewel tea inc alleging size competitive relationship set companies brought interlocks within reach complaints asked order particular interlocks terminated enjoin future violations individual corporate defendants soon complaints filed hancock resigned boards kress kroger bond disclosing resignations affidavit defendants moved dismiss actions moot treated motions summary judgment granted district judge concluded slightest threat defendants attempt future activity violation section violated already supp government brought direct appeal expediting act stat amended stat supp contending cases rendered moot hancock resignations abuse discretion trial refuse injunctive relief appellees suggest without arguing point extenso judgment affirmed clayton act vests exclusive enforcement powers federal trade commission section authorize commission enforce inference administrative jurisdiction intended exclusive falls plain words several district courts hereby invested jurisdiction prevent restrain violations act stat cases spoken congress design provide scheme dual enforcement clayton act alkali export assn standard oil note appellees failure press point denotes merits district properly entertained suits sides agree abstract proposition voluntary cessation allegedly illegal conduct deprive tribunal power hear determine case make case moot freight walling helmerich payne hecht bowles controversy may remain settled circumstances aluminum america dispute legality challenged practices walling helmerich payne supra carpenters union labor board defendant free return old ways together public interest legality practices settled militates mootness conclusion freight supra say case become moot means defendant entitled dismissal matter right labor board general motors courts rightly refused grant defendants powerful weapon public law enforcement case may nevertheless moot defendant demonstrate reasonable expectation wrong repeated burden heavy one defendants told interlocks longer existed disclaimed intention revive profession suffice make case moot although one factors considered determining appropriateness granting injunction acts along power hear case power grant injunctive relief survives discontinuance illegal conduct hecht bowles supra goshen mfg myers mfg purpose injunction prevent future violations swift course utilized even without showing past wrongs moving party must satisfy relief needed necessary determination exists cognizable danger recurrent violation something mere possibility serves keep case alive chancellor decision based circumstances discretion necessarily broad strong showing abuse must made reverse considered bona fides expressed intent comply effectiveness discontinuance cases character past violations facts relied government show abuse discretion case hancock three interlocking directorates viewed three distinct violations failure terminate suit filed despite five years administrative attempts persuade illegality express refusal concede interlocks question illegal statute failure promise commit similar violations future sitting trial showing might persuasive government must demonstrate reasonable basis district judge decision think fails individual proclivity violate statute need inferred fact three violations charged particularly since recently government attempted systematic enforcement district dealing defendant follows one adjudicated violation others material district judge supposed five years administrative persuasion easily support inference time defendant department justice trying determine legality directorships government remedy statute plain postponement suit indicates doubt prosecutor part much intransigence defendant much contrition expected defendant hard us say surely question better addressed discretion trial said limited disclaimer future intent assuming government corporations properly joined defendants conclusion abuse discretion refusing injunctive relief hancock applies fortiori case none corporations appeared engaged one alleged violation affidavits filed motions dismiss indicated defendants ignorant government interest interlocks suits filed indeed emphasis branch case placed refusal relief hancock failure point circumstances compelling relief corporations speaks essentially government claim deprived trial relief issue time objection raised procedure case handled course summary judgment procedure employed genuine issue material fact fed rules civ proc however defendants moved dismiss government elected file countervailing affidavits amend complaint stated oral argument truth defendants affidavits questioned frame factual dispute left complaint relevant paragraph reads defendants threatened continue continue aforesaid violation section clayton act unless relief prayed herein granted emphasis added aforesaid violation specific interlocks voluntarily terminated intention resume negatived oath prayer defendants enjoined future violations complaint alleged threatened violations specifically charged circumstances district judge decide significant threat future violation factual dispute existence threat conclude although actions moot abuse discretion demonstrated trial refusal award injunctive relief moreover stated dismissals bar new suit case possible violations arise future judgments affirmed footnotes fed rules civ proc sec authority enforce compliance sections act persons respectively subject thereto hereby vested federal trade commission applicable character commerce exercised follows whenever commission shall reason believe person violating violated provisions sections act shall issue serve upon person attorney general complaint stating charges respect containing notice hearing upon hearing commission shall opinion provisions said sections violated shall make report writing shall state findings facts shall issue cause served person order requiring person cease desist violations divest stock share capital assets held rid directors chosen contrary provisions sections act manner within time fixed said order stat supp cf gesellschaft defendants shown settled continuing practice entered conspiracy violative antitrust laws courts assume abandoned without clear proof duty courts beware efforts defeat injunctive relief protestations repentance reform especially abandonment seems timed anticipate suit probability resumption oregon state medical society aluminum america supra cf gypsum review particular antitrust decree provisions see kramer interlocking directorships clayton act years yale understood deciding whether corporations violate reasons enjoined statute justice douglas justice black concurs dissenting monopoly restraints trade sometimes products practices devices ingenious minds men sometimes follow blunt direct course involved acquisition assets competitor way growth monopoly power decisions given powerful impetus encouragement see especially columbia steel subtle interlocking arrangements directorates accomplish disastrous consequences justice brandeis pointed forty years ago interlocking directorates companies compete stifle competition use words justice brandeis practice substitutes pull privilege push manhood moreover entwined relations stuff concentration financial power american industry built maintained justice brandeis gave one example bankers control railroads controlling railroads able control issue sale securities bankers bought securities price part fixing part fixing sold securities bankers insurance companies able exercise control directors got money buy securities railroads control great banking institutions capacity control railroads utilized money purchase great corporations like steel corporation railroads needed capacity controlling corporations bought steel corporation endless chain condition aggravated interlocking control present case indirect hancock served director three sets companies state pleadings us must assume competitive fact resigned pressure proceedings dispose case dealing professionals whose technique controlling enterprises building empires fully developed well known long justice brandeis crying evils money trust hancock years partner investment banking firm lehman bros testified lehman financing company traditional practice ask representation board directors therefore seems district judge faced violations involved want know first investment bankers built empires second particular firm built empire third effect banker empires competition companies tied fact lehman partner resigned avoid decision merits little relevancy issue case concerned proclivity house indulge practice relevant issues never weighed case district ruling entitled presumption validity various factors considered district made considered judgment disposed case basis mootness ruling conceded erroneous case go back consideration nature extent web investment banking house woven industry effect elimination competition within meaning clayton act unless know much position judge service injunction future violations may unless know much position carry woodrow wilson policy expressed clayton act interlocking directorates prevented make affect compete fact partners masters whole field business message joint session houses congress see brandeis endless chain harper weekly quoted lief brandeis guide modern world see testimony hearings committee judiciary trust legislation vol quoted lief op supra note hearings temporary national economic committee pt sears roebuck supp decided april ruled congress intended nip bud incipient violations antitrust laws removing opportunity temptation violations interlocking directorates