FIXING PRICES.
METHODS IN UNITED STATES. STATED TO BE ILLEGAL. Received July 24. 9.45 a.m. WASHINGTON, July 22. The Federal Trade Commission has ordered the United States Steel Corporation to abandon tho “Pittsburg plus” system of determining the price of steel. The commission held to he unfair competition the system of the corporation and its subsidiaries quoting prices for products to he shipped from plants outside Pittsburg at the Pittsburg base price, plus the equivalent of the freight charge from Pittsburg. The commission held the system to lie contrary to the public interest and to be a price fixing system, succeeding the old steel jiools and “gary dinners,” and made possible by the alleged domination of the steel industry by tho corporation. It held that the system lessens and eliminates competition and retards business at all steel centres except Pittsburg. The commission declared that the system adds tliirty million dollars per year to the cost of steel lo the farmers in eleven western states. — Reuter.
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Bibliographic details
Manawatu Standard, Volume XLIV, Issue 1076, 24 July 1924, Page 6
Word Count
165FIXING PRICES. Manawatu Standard, Volume XLIV, Issue 1076, 24 July 1924, Page 6
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