Word: cartelism
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...Wolff's, owned by the Continental Telegraphen-Compagnie and controlled by Berlin's banking firm of S. Bleichröder, has like France's Havas Service long been conducted as a semi-official Government organ. It served about 600 German papers, belonged to the cartel of international services which exchange news only among themselves. . . . The Associated Press is the U. S. member of this group. The Telegraphen-Union, serving 1,600 German papers, with 90 editors and some 2,000 correspondents, was considered to have even more complete coverage in Germany. In towns with two competing papers...
Depression hurt money-changing, so 35-year-old Banker Neidecker turned to goods and produce. Last year he bargained for Farm Board wheat to be delivered to his European cartel. Last month he announced the formation of International Commodities Trading Corp., Swiss-chartered, to barter among countries commercially hobbled by foreign exchange restrictions. Last week he concluded his first deal-an agreement to trade 1,000,000 bushels of U. S. wheat and a small amount of cotton for some $500,000 worth of Indo-China zinc and tin. The wheat will be traded on a basis...
...Shutdown. The International Tin Cartel (Malay States, Nigeria, Bolivia, Dutch East Indies) last week decided on drastic measures to cut the huge surplus supply. Production will be stopped entirely during June and July, resumed in August at 40% of capacity. Or, as an alternative, members may reduce their output 133% for June, July and August...
...save Germany from bankruptcy, relieve depression, stimulate foreign trade, and preserve the republic from serious political and economic disorders. His long-heralded program, signed by President von Hindenburg and issued on Dec. 8, contains the following drastic provisions: House rents and the prices of standardized articles controlled by the cartels, including coal, iron and potash, are to be cut 10 per cent. Other cartel agreements are declared void. A price commissioner, who will see that the intended reductions in prices are really effected, is appointed. Official salaries in the Reich, the States and the communes are cut 9 per cent...
Last week a big ship (the Berengaria) entered a big port (New York) carrying a big man (6 ft. 6 in. and 240 Ib. avoirdupois). He was a man who a year ago established probably the most comprehensive cartel ever set up to rescue a world industry from destruction by overproduction. Now, almost a year later, the industry is beyond all question far worse off than before; from opposite sides of the globe rumble ominous rumors of the cartel's imminent dissolution. Last week the man-Thomas Lincoln Chadbourne-on the deck of the Berengaria announced: "I am quite...