The Iron and Steel Industry. Dec. 1950: Report of the Subcommittee on Study of Monopoly Power ... 1950

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Page 42 - Columbia, or to any foreign country, any article or commodity, other than timber and the manufactured products thereof, manufactured, mined, or produced by it, or under its authority, or which it may own in whole or in part, or in which it may have any interest, direct or indirect, except such articles or commodities as may be necessary and intended for its use in the conduct of its business as a common carrier.
Page 42 - From and after May first, nineteen hundred and eight, it shall be unlawful for any railroad company to transport from any State, Teritory, or the District of Columbia to any other State, Territory, or the District of Columbia, or to any foreign country, any article or commodity, other than timber and the manufactured products thereof, manufactured, mined, or produced by it, or under its authority, or which it may own in whole...
Page 58 - United States Steel's commercial policy is to sell products of its manufacture at competitive prices. Its objective is to realize at all times a profit on the products which it sells. It is constantly guided by the long range philosophy that the lower the price of steel, the more the needs and desires of the consuming public will be satisfied and the demand for steel stimulated.
Page 70 - The fact that the Corporation simply because of the magnitude of its conception had from the beginning so many hundreds of millions of its dollars in plant worked strongly against change. And so the chief energies of the men who guided the Corporation were directed to preventing deterioration in the investment value of the enormous properties confided to their care. To achieve this, they...
Page 19 - I do not think it would make any difference whether you had 5 companies in the steel business or 500 companies in the steel business if 1 or 2 companies controlled the source of raw material. The monopolistic features would be there in the controlling point, and it only -would make a slight difference of distribution, and that is about all.
Page 44 - Buffalo is not so exercised as to make it the alter ego of the holding company.
Page 70 - ... exploiting the market for wire; and it was slow in utilizing waste gasses from the furnaces and in utilizing low cost water transportation.14 The editors of Fortune Magazine, after a study of the corporation's growth, conclude that the magnitude of the financial investment in fixed plant has militated against change: " And so the chief energies of the men who guided the corporation were directed to preventing deterioration in the investment value of the enormous properties confided in their care....
Page 69 - ... of the wire business; slow to adopt the heat-treating process for the production of sheets; slow in getting into stainless steel products; slow in producing cold-rolled sheets; slow in tinplate developments; slow in utilizing waste gases; slow in utilizing low-cost water transportation because of its consideration for the railroads; in short, slow to grasp the remarkable business opportunities that a dynamic America offered it. The corporation was apparently a follower, not a leader in industrial...
Page 59 - Actual prices fall below published prices when steel mills are not operating close to capacity and the market is highly competitive, but closely approach and sometimes exceed published prices during periods of capacity operation when little competition exists.
Page 80 - The result has been the rise of oligopolies, as in the steel industry. Oligopolies pose the crucial unsolved problem of antitrust policy. They are apparently not subject to dissolution under the Sherman Act. In oligopolistic industries, competitive behavior can be achieved only by a careful and continuous supervision of every business practice and every price and investment decision that the industry makes. The orthodox antitrust procedures can eliminate some of the worst monopolistic practices,...

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