FIXING PRICES
UNFAIR COMPETITION STOPPED IN UNITED STATES. EY CABLE—PRESS ASSOCIATION-COPYRIGHT Received July 24, 9.2“ WASHINGTON, July 22. The Federal Trade Commission lias ordered the United States Steel Corporation to abandon the “Pittsburg plus” system of determining the price of steel. The commission held to be unfair competition the system of the corporation and subsidiaries quoting prices for products to be shipped from plants outside Pittsburg at Pittsburg price plus the equivalent of freight charge from Pittsburg. The commission held the system to be contrary to public interest and to be a pricefixing system: succeeding the old steel pools and “Gary dinners,” made possible by the alleged domination of the steel industry by the corporation. It held that the. system lessoned and eliminated competition, and retards competition at all steel centres except Pittsburg. The commission declared that the system adds thirty million dollars a year to the cost of steel to farmers in eleven western States. — Reuter.
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Bibliographic details
Hawera Star, Volume XLVIII, 24 July 1924, Page 5
Word Count
157FIXING PRICES Hawera Star, Volume XLVIII, 24 July 1924, Page 5
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