Word: cartelizing
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...Borax Cartel. Seven companies, headed by British-owned Borax Consolidated, Ltd., and American Potash & Chemical Corp. and eleven individuals (four living in Britain) were indicted by a federal grand jury in San Francisco. The charge: violating antitrust laws by operating a worldwide cartel in borax. The antitrust division alleged that the companies controlled over 90% of the world supply (used for bombs, steel and copper alloys, etc.), most of which comes from California's Mojave Desert. The companies allegedly had kept prices skyhigh, had eliminated competition, and had hampered the war effort seriously. The antitrust action further charged that...
...Cartel Hater. The man who sketched this picture was balding, dimple-chinned Wendell Berge (rhymes with dirge), 41, boss of the antitrust division. Berge had gone West to present his case, making seven anti-cartel speeches along the way. Before that, he had done the spadework for the Administration's campaign, with 28 indictments now pending...
...such an interchange many a U.S. industrialist has found himself, willy-nilly, in a cartel. Berge favors registration of all such agreements with the antitrust division, thus giving it the power to annul them, if advisable, without court action...
...said his chief objection was the "vagueness" of the language, which could make the agreement "as in nocuous or as vicious as its administrators desire." Suspiciously he hinted that the agreement contains "the possibility of a first step in what might be a carefully laid plan for a superstate cartel." Since a government cartel "is no less reprehensible than a cartel entered into by individuals," the Senate should investigate the agreement and reveal all its facts to the public, said Oilman Pew. The Senate will find, he said, that the agreement's purposes have been left "entirely...
...success of the synthetic rubber program antiquates the prewar economics of rubber. The U.S. is now a producer as well as a consumer, need no longer pay tribute to the old British-Dutch natural rubber cartel. This week State Department officials and industry men went to the London Rubber Conference to report to British and Dutch representatives that the U.S. has more than 50 plants operating, more abuilding, and a million-pound annual production capacity. No commitments will be made at this conference, but the U.S. delegates will not have to stand out side, hats in hand...