Word: trusts
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Dates: during 1920-1929
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...looms were in operation. Huge surpluses of finished silk are stacking up in warehouses. Buyers are holding back, waiting for a price break. Like the oilmen, the silkmen need Government acquiescence in an agreement. But the government, much though it might like to, is too tangled up with anti-trust legislation to help or acquiesce in either oil or silk plans (see National Affairs...
...compensation for underproduction. But despite the fact that President Coolidge in 1924 appointed a Federal Oil Conservation Board which consistently recommended co-operation within the oil industry as a cure for over production, the U. S. tycoon is still a little nervous concerning production agreements which might provoke anti-trust proceedings. So everyone simply shook hands all around and Edwin Benjamin Reeser, head. of A. P. I., also of Barnsdall Corp., Tulsa independent, said: "For the first time in the life of the Institute a child has been born...
...participation in the rail cartel would be chiefly the official recognition of a working agreement which has for some time existed between U. S. railmakers and cartel members. U. S. industry on the whole has been somewhat wary about joining cartels, fearing prosecution under anti-trust laws. But the government is much more broad-minded concerning what U. S. industry may do abroad than concerning what it may do at home and one obvious method of meeting cartel competition is to become a cartel member...
...also strongwilled. Last week he halted a collapse on the Stock Market, "slapped the Federal Reserve Board squarely in the face," heard Virginia's Senator Glass demand his resignation from the directorate of the Federal Reserve Bank of New York, announced the absorption of Farmers' Loan & Trust Co. by his National City, and regained his position (briefly lost by the Guaranty Trust-Bank of Commerce merger) as head of largest U. S. bank...
...rediscount rate nor the Mitchell resignation were even discussed. Merger Mitchell. ''Very interesting," was all that Banker Mitchell said when told of the Glass attack. Mr. Mitchell's mind was occupied with an important matter - the merger of National City with Farmers' Loan and Trust. Announced early this week, the amalgamation created a banking institution with total resources of $2,100,000,000. Inasmuch as the Guaranty Trust-Bank of Commerce merger (TIME, March 4) had produced a bank with resources of $1,983,597,000, the National City-Farmers' Loan combination could match Guaranty...