Word: cartelized
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Dates: during 1930-1939
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...British iron and steel industry. Fourteen years ago the Earl of Dudley arrived in the U. S. as equerry to the Prince of Wales. Two years ago the Earl visited the U. S. in a futile attempt to get the U. S. steel industry to join the European Steel Cartel. Last week the Earl of Dudley once more sailed into New York Harbor on the same errand...
...good definition of a cartel is "an agreement, usually in writing, among manufacturers, which regulates production and prices." Before the World War it has been estimated that there were some 114 international cartels. One of the first and most successful was the International Rail Makers' Association which appeared in 1884. The European Steel Cartel has been turbulent but relatively successful. It was formed in 1926 by Germany, France, Belgium, Luxembourg and the Saar to overcome through production quotas the disastrous effects of post-War overproduction. In the past dozen years it has been abandoned and revived, depending...
When he overreached himself and went bankrupt, he headed for Manhattan, made a quick fortune in cigarets. Boredom drove him into the munitions business. In Paris, Ulysses created the armament cartel which did the main work in preparing both sides for the World War. In old age "his soul expanded in its power and goodness." Peacefully dead at 71, he got magnificent funerals in Greece and England, canonization by the Church. In accordance with his last will, he was buried simply in his native Greek village, his enormous fortune split into a thousand bequests...
...fuss last week in the commodity markets which the bounding indices reflect was in copper. Metal prices at home and abroad have been rising dramatically since early autumn. Fortnight ago copper's sister non-ferrous metal, tin, was placed on virtually a 1929 production basis by the tin cartel (TIME, Jan. 18). Last week, with export copper selling as high as 12.75? per lb., the international copper cartel called off production quotas to keep the price of the red metal from soaring higher and to discourage reopening of low-grade mines...
...cocoa's rise, as for that of more staple commodities, the obvious and basic explanation is increased consumption. But there have also been special reasons for the hot cocoa market. Unlike rubber and tin (see p. 59) cocoa production is not amenable to cartel agreement. The cocoa tree, which was discovered in Mexico by the Spanish conquistadores, is a sensitive plant, takes from six to eight years of careful tending before it yields a good crop of cocoa beans. In West Africa where one-third of the world's crop is harvested, native growers...