Word: freighting
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Dates: during 1930-1939
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...Washington last week to testify against the so-called Wheeler Anti-Basing Point Bill were the presidents of the two biggest steel companies in the U. S. Montana's Senator Burton Kendall Wheeler proposed to abolish by law the common industrial practice of quoting prices which include freight charges from a "basing" city regardless of whether the commodity is actually shipped the specified distance (TIME, March 23). U. S. Steel's William A. Irvin and Bethlehem's Eugene Grace spoke for the industry most bitterly opposed to any change in this system...
Most bus lines had quit cold. Air lines put all available planes into service, worked overtime flying passengers, mail and freight between Newark and Pittsburgh. One TWA plane carried nearly a ton of rubber boots, another some 5,000 telegrams. But even airplanes were forced to quit at night when electric power failures put airport lights and radio beacons out of commission...
This week the mirror starts its journey west on a special train carrying a freight-car with equipment for unloading, and a caboose. The train will travel no faster than 30 m.p.h. Since it was impossible to provide a lateral clearance of 18 ft., the mirror had to be shipped standing upright. This raised the problem of overhead clearances. After much study a route was worked out with the tightest squeeze a three-inch bridge clearance at Buffalo. The big disk goes by New York Central to Cleveland; by Cleveland, Cincinnati, Chicago & St. Louis to St. Louis; by Chicago, Burlington...
...aspect of steel prices - the basing point system of quotations. This system is a modification of the old "Pittsburgh Plus" plan. Carefully nurtured by U.S. Steel's late Elbert Gary, Pittsburgh Plus worked on the simple principle of charging every buyer the price of steel in Pittsburgh, plus freight to his door, regardless of where the steel was made. Thus in one classic example soon after the War, when the Pittsburgh price was $40 per ton, a Chicago concern was paying $47.60 for steel made by its next door neighbor. The additional $7.60 represented freight charges...
Having put up with this exaction of "phantom" freight charges for some 20 years, steel consumers finally revolted. After prolonged proceedings, the Federal Trade Commission issued a cease & desist order in 1924. Pittsburgh Plus was then replaced by the basing point system, which substituted a number of cities for Pittsburgh. Other industries now using basing point prices, which may also, include "phantom" freight charges, are cement, lumber, paper, flour, sugar...