Word: cartels
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Dates: during 1940-1949
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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...
...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...
...penchant for double-breasted waistcoats, he has a personal charm that smooths all paths for him. His business abilities were established beyond cavil by his spectacular rise in the metals industry, wherein he first became manager of the giant British Metal Corp. and then fathered a world tin cartel...
Should U.S. firms be permitted to join international cartels in order to expand foreign trade? The Justice Department's Antitrust Division has invariably answered this prime postwar question with a definite "no." Last week a top U.S. businessman answered with a qualified "yes." Up before a Senate subcommittee stepped grey, urbane Ralph W. Gallagher, 63, president of Standard Oil of New Jersey. He had asked to be heard on the bill sponsored by Wyoming's Senator Joseph O'Mahoney, requiring registration of international cartel agreements. Said President Gallagher: Standard Oil agrees "in principle" with the bill. Standard...