Word: undercutting
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Dates: during 1930-1939
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Potash politics come easy to Europe's masters of power politics. Europe's Cartel is about two-thirds Potash Syndicate of Germany, some French, less Polish. Its bankers are British. Spain, an independent producer, thoroughly undercut the trust's prices in 1933 and 1934. But in the spring of 1935 the Syndicate, thanks to German control of Spain's oldest potash company, made a tentative deal with Spain. Immediately the world price snapped back from its trade...
...April 19, stood last week at 1,160. When this 40% price rise began, the small group of U. S. branded hosiery makers (such as Gotham and Phoenix) which control their resale prices had already announced their spring prices. For fear that unbranded rivals would undercut them, they did not raise prices and continued to manufacture out of previously purchased supplies. Meantime the silk became harder & harder to buy. Last week the National Association of Hosiery Manufacturers sent out a special news bulletin advising cooperatively restricted silk buying and advancing seasonal shutdowns...
Immediate result of low prices is likely to be higher corporate profits, for many companies can buy raw goods cheap without reducing the prices of their finished products. Sooner or later, however, such profits fail, undercut by lack of buying power among producers of raw materials. Last week, for instance, the Department of Agriculture announced that farm income of $6,400,000,000 in 1938's first eleven months was 13% under...
Hopping mad, certain independents surreptitiously undercut the official prices Big Steel had set for the industry. For a while Big Steel ignored this as a petty annoyance, but fortnight ago the buying demand of the automobile industry forced even Big Steel to shade its prices some $4 a ton, lowering cold-rolled sheets to $62 compared with $73 last spring. When an independent then cut the price another $2, Philip Murray was not the only steel man to fret. With the industry working at only 53% of capacity, it was clear that such price-cutting, if continued, must mean heavy...
...through secret emissaries traveling between London and Berlin, tried to construct an alliance of the British and German Empires. But Kaiser Wilhelm II would not concede Britain naval supremacy, and Foreign Minister Prince von Bülow insisted that Germany could yield nothing which would undercut her "destiny to rule the world...