Word: tradings
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Dates: during 1940-1949
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Plenty of Room. Fox himself is anxious to dispel any suspicions that he stands to profit by unfair "monopoly" or "state trading." His contract, he says, affects only about 25% of the islands' total trade ($450 million in 1940), and private Indonesians are free to deal with whom they please. Competitors, he insists, are welcome-particularly from...
...years the Federal Trade Commission poked and jabbed at heavy industry's . basing-point system ,of pricing. Under that system, producers absorbed enough freight costs to "meet competition" in areas distant from their mills, added "phantom freight" costs on some short-haul sales. Thus they got to identical prices at any given destination. Last April, the Supreme Court upheld FTC's charge that such identical prices added up to trustlike collusion. The court ordered the defendants in the case, the cement industry, to drop the basing-point system. The order went into effect last week...
Matthew Fox has a solid reputation as an expert kibitzer and operator, with an inordinately sharp eye for a fast buck. A movie man by trade, he has backed such side bets as Bub-0-Loon, three-dimensional pictures, the "everlasting match" (TIME, Oct. 13). Last winter he quit his $150,00b-a-year job as executive vice president of Universal-International Pictures to make side bets his life work. One of them turned out to be a new main chance: the Indonesian Republican government heeded $80,000 fast, and Matty Fox thought he could arrange it. He did. Then...
...Matty Fox, who holds 51% of the corporation's voting stock. He will do all the Indonesian government's bulk buying & selling in the U.S. and will try to find U.S. risk capital to build up the islands' mines and industries. Says Dr. Soemitro Djojoadikoesoemo, Indonesian trade commissioner to the U.S. who negotiated the deal: "We need U.S. capital and skill ... We like Matty...
...method in Matty's seeming madness about U.S. competitors. Before the war, Indonesia was the hallowed preserve of Dutch and British traders and cartels (notably tin and rubber), which all but shut U.S. business out of the islands' billion-dollar-a-year (at '48 prices) trade. Matty Fox is determined to keep them from regaining their hold. Last week he was making the rounds of U.S. companies, inviting them to step right through the archipelago's open door-when it opens...