Word: cementation
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...This is not a punitive investigation," declared Senator Joseph C. O'Mahoney, chairman of the joint Congressional-Executive Monopoly Investigation, last week. Whereupon the committee began planning its probing of the steel, rubber, cement and milk-marketing industries, and many a Big Businessman felt none too sure of the literalness of Chairman O'Mahoney's assertion. This week, something of a sedative for nervous executives was administered by the Brookings Institution in Washington, which published the fifth volume of its famed series of studies of the basic economic maladjustments in U. S. industry. The first four volumes...
...favorite plea, particularly of heavy industries such as steel and cement, that some sort of price stabilization : needed to prevent local monopolies (TIME, July 11). Maybe so, concedes Dr. Nourse but this cannot be justified in the long run for it means conducting industry in the interest of the inefficient and disregarding the advantages of technological progress...
This year, storm clouds again began to gather. With a new Depression, Franklin Roosevelt took to grousing about the rigidity of steel prices. The Federal Trade Commission launched an attack on the basing-point system used by the cement industry (TIME, April 25). Then came the Wheeler-Lea Act which had a minor clause making all unchallenged past orders of the FTC automatically effective unless the respondents filed an appeal before May 21. Recalling that FTC's order ending "Pittsburgh Plus" had never been challenged, since the company consented to the action, Big Steel hastened to file an appeal...
Thus highlighted was the ironical fact that an action to avoid a Governmental reprimand for monopoly might increase monopoly. It has always been the steel industry's claim, seconded by cement and other heavy industries, that without price stabilization of some sort the inevitable result is a number of monopoly mills whose strategic position enables them to undersell and consequently force out of business their competitors...
...Cement...