Word: cartelism
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...plumpish, round-faced colonel, just back from Germany, appeared last week before the Senate's cartel investigating committee. In the voluminous charts and documents under his arm, Colonel Bernard Bernstein, onetime U.S. Treasury aide and now head of the Army's cartel investigations, had all that the Army has learned about Germany's world-girdling I.G. Farben, and he wanted to warn U.S. industrialists what they are still up against...
Without I.G., said he, Germany could not have waged the war at all. Abroad, I.G. had "cartel arrangements" with 2,000 companies, used them to help the Nazis. At home, besides its own plants, I.G. controlled another 380 German firms. As armorer for the Nazis, I.G. made all of Germany's synthetic rubber and lubricating oil; 95% of its poison gases (Farben tested them on concentration camp inmates); 90% of the nickel; 88% of the magnesium, most of the gasoline and explosives for the buzz-bombs...
...producers to maintain a $16-a-ton price throughout the depression. ¶ An electrical cartel managed to manipulate the radio-tube business in such a way that "until 1939, Canadian consumers were deprived of low-priced radio sets of a type which had been available in the U.S. for a considerable period." ¶When the U.S. General Electric Co. and the German Krupp interests made an agreement on the sale of cemented tungsten carbide (for machine tools), Canadian importers could buy it only from G.E., which raised the price from $50 a pound to $453. After the U.S. Government indicted...
...only people who benefit from such deals, said Investigator McGregor's report, are the producers: they are guaranteed exclusive markets and fixed, high prices. Canada, he found, has suffered because it is an exporting nation, and "cartel agreements are ... restrictive...
Apparently certain financial interests had been attempting to get control of Eldorado's uranium and to sell it, contrary to wartime metals regulations, for private profit. There were, moreover, reasons to suspect that attempts had been made to form an international uranium cartel involving Eldorado and Belgian Congo uranium interests. To get at the facts, a Toronto chartered accountant, J. Grant Glassco, had been appointed last May as chief investigator...