Word: cartelizing
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...Bolivian mines, thanks to depression and years of mining by their absentee landlord, are run down. Controlling more than half the production, Patino has also managed to restrict the rest. Not for ten years has Bolivia produced the full quota set for her by the British-controlled cartel. Last year Bolivia mined 27,000 tons of ore. To reach an estimated potential of 50,000 tons, the Bolivian mines need back maintenance, new machinery, more labor...
...Correspondents asked Mr. Roosevelt whether he had abandoned the heralded, ambitious U. S. plan for a Latin-American trade cartel, to fend off Nazi-Fascist penetration. The President carefully replied that only the objective had not been discarded; instead of an inclusive (some said unpractical) arrangement with all Latin America, the U. S. would depend on loans and separate trade negotiation with each country to raise Hemisphere fences against Hitler...
...bank, Lloyds, refused a loan, called in an overdraft, nearly strangled Thomas & Co. with a working-capital shortage. The Bank of England agreed to make the loan, but extracted an issue of prior-rights stock and put some of Sir William's chief competitors of the steel cartel (whose mills are oldfashioned, high-cost) on his board. Sir William soon ran afoul of them, was ousted (TIME...
...heard an ugly rumor (still unconfirmed because of defense regulations) that the Ebbw Vale mill, most efficient sheet mill in the British Isles, was lying one-third idle because the Steel Control Committee, a semi-official front for the Iron & Steel Federation, was giving preference in Government orders to cartel-owned mills...
Thus did Funk blast the cartel scheme with which, at last week's Havana conference, the U. S. was trying to build a solid hemisphere front. Well did Herr Funk know that the U. S. (with her exportable surpluses of agricultural products) would not be able to buy enough from South America (which has mainly agricultural products to sell) to provide her with the money to buy the products of U. S. industry. But Germany (and all Europe), which needs food and raw materials, could pay for them with the industrial products South America lacks. Most disquieting thing about...