Word: cartelizing
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...makers) and Metals Reserve Co. To the former it planned to lend $65,000,000 to buy 150,000 tons of rubber; to the latter $100,000,000 to acquire 75,000 tons of tin and other strategic metals. London reacted promptly to the new demand, the international tin cartel upped its export quota from 100 to 130% of standard (or at the rate of 271,661 tons a year), a new high; the rubber cartel from 80 to 85% (1,131,160 tons a year...
...America had ever doubted that the U. S. was serious in its plan to set up a giant economic union to control All-American exports (TIME, June 24), that doubt disappeared last week. Before leaving for Hyde Park, the President ordered full speed ahead on the All-American economic cartel, the biggest, most urgent "must" on the Administration's schedule. In Washington, the plan was put at the top of the agenda for a Pan-American Conference at Havana, scheduled for June 26. The State Department, acting at "total speed," thither invited the representatives of the 20 Latin American...
...Ernest, knighted in 1921 for services to the Empire, is chairman of Diamond Corp., which controls 95% of the world's diamond production, chairman of De Beers Consolidated Mines, world's most important diamond mining company. As boss of both ends of Britain's diamond cartel, he always lets his left hand know what his right is doing. When buyers get languid, Sir Ernest's tight little combination turns off the diamond supply like a kitchen tap. The supply: British and Belgian Africa, whose "pipes" (blue clay mines) and alluvial deposits yield 97% of the world...
When World War II began, the British cartel cut the Germans out of the market, black-listed dealers who could not convince Sir Ernest's executives they would not let their purchases into the Reich. When the British held the Pan-American Clipper at Bermuda and seized U. S. ship mail at Gibraltar, one big object of their search was diamonds headed for Nazi factories. Last week U. S. industrialists might well ponder what a Hitler-dominated cartel could do to mass production...
Neville Chamberlain refused to discuss the Firth affair. But shortly before his Cabinet fell, one of his most influential critics, London's famed Economist, did. Calling the Richard Thomas board "trustees for the cartel," the Economist asked: "Can a centralized, cartel-like organization of industry, in which the interests of an individual firm are subordinated to those of the industry as a whole, be reconciled with the community's interest in the utmost speed of technical progress?" This question acquired a new urgency last week. For Britain has been importing 200,000 tons of steel a month from...