Word: freighting
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Dates: during 1940-1949
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...said it was not concerned with pricing methods, but only with possible conspiracies to fix prices. Individual businessmen, it said, are free to compute their prices by using basing points, absorbing freight charges, or any other way they please, provided they do not use the system to conspire to fix prices illegally...
Many, however, were already fleeing. On a train from Tientsin to Peiping, I noticed a freight train headed the other way toward the port, bearing three shiny new automobiles. A young, black-uniformed railway guard watched the cars pass. "Yu-chien-ti tu pao" (Have-money people all run), he observed...
...special Senate subcommittee was just beginning to pry into the entire hubbub. Capehart said that the Supreme Court's decision in the cement case had thrown all of industry into confusion on prices. He thought the "only pricing practice which may be followed in any competitive industry where freight is a substantial item . . . with assurance of legality is an f.o.b. mill price. Any other pricing system may be found illegal...
...something. The ban on basing points, said Corwin D. Edwards, director of FTC's Bureau of Industrial Economics, was simply a ban on using basing points to fix an industry-wide price. Said Edwards: "Nothing in these orders prevents individual sellers, who act without collusion, from absorbing freight . . . In the future, as in the past, there will be a wide variety of geographic pricing methods in use by different companies and different industries. No particular method of pricing will be prescribed...
...Answer. In its monthly Business Review, the Philadelphia Federal Reserve Bank also said the steelmen were wrong. Steelmen contended that the uniform basing price was a necessary and "natural" protection for an industry with high capital outlay and high freight charges. In effect, said the bank, they were describing their industry as a "natural monopoly." "If [that] were granted," it warned, "a good case could be made out for regulation of the industry as a public utility...