Chapter 14 of 14 · In Restraint of Trade: The Business Campaign Against Competition, 1918-1938 by Butler Shaffer
Index
Abbott, Charles F., 131–32, 136–37, 241n. 1
Agricultural Adjustment Act, 14
Agricultural Marketing Agreement Act of 1937, 119
Airline industry, 120
Air Transport Assn., 120
Alan Wood Steel Co., 139
Alexander, Magnus W., 58, 95 Allen, Frederick Lewis, 22–23, 49
Allied Steel Castings Co., 140
Aluminum Company of America (U.S. v.), 250n. 4
Amalgamated Clothing Workers Union, 102
American Bankers Assn., 159, 237n. 65
American Bottlers of Carbonated Beverages, 65, 227n. 76
American Column & Lumber Co. v. U.S., 55
American Cotton Manufacturers Assn. (ACMA), 197, 199, 201, 203, 205
American Exchange Irving Trust Co., 79
American Face Brick Assn., 224nn. 52 and 55
American Federation of Labor (A.F. of L.), 101, 102
American Gear Manufacturers Assn., 132
American Highway Freight Assn., 237n. 64
American Institute of Food Distribution, 81
American Institute of Steel Construction (AISC), 131
American Iron and Steel Institute (AISI), 107, 118, 123, 124, 129–30, 134, 137, 144, 189, 237n. 65
American Linseed Oil Company (U.S. v.), 55
American Machinery and Tools Institute, 138
American National Retail Jewelers Assn., 65
American Paint and Varnish Manufacturers Assn., 109
American Petroleum Institute (API), 148, 156, 158, 160–61, 163, 168, 169, 170
American PhotoEngravers Assn., 225n. 59, 227n. 86
American Republics Corp., 159
American Rolling Mill Co., 130, 143
American Short Line Railroad Assn., 237n. 64
American Specialty Manufacturers’ Assn., 223n. 50
American Transit Assn., 237n. 64
American Trucking Assn., 119
American Walnut Manufacturers’ Assn., 223n. 51, 225n. 58, 227n. 74, 227–28n. 86
American Warehousemen’s Assn., 225n. 61
American Wholesale Grocers’ Assn. (AWGA), 184, 193, 223n. 50. See also National American Wholesale Grocers Assn.
Antitrust laws, 26, 34–35, 54, 60, 75, 87, 97, 110, 120, 121, 125, 153, 154, 159, 177–78; proposals for amending, 54, 97–99, 110, 133, 135, 139–40, 152–53, 159–60, 177–78, 201, 203, 209, 239n. 20. See also Sherman Antitrust Act; specific cases
Appalachian Coals v. U.S., 178
Areeda, Phillip, 67
Associated Fur Manufacturers, Inc., 247n. 12
Associated Grocery Manufacturers of America, 118, 188, 193
Associated Office Furniture Manufacturers, 224n. 55
Association of Railway Executives, 237n. 64
Association of Regulated Lake Lines, 237n. 64
Automobile industry, 17, 18, 118, 190, 191
Avery, Sewell, 190
Baker, Hugh P., 59
Baker, Newton D., 106
Baltimore and Ohio Railroad, 24
Bardo, C. L., 110
Barlow Foundry, 131
Barnes, Julius H., 59, 80, 159
Baruch, Bernard M., 23–27, 59, 78, 86–88, 99–100, 106
Bassill, John E., 60, 248–49n. 59
Batcheller, H. G., 139
Berglund, Abraham, 220–21n. 102, 238n. 13
Bethlehem Steel Corp., 24, 129
Better Business Bureau, 186
Bituminous Coal Act of 1937 (Guffey-Vinson Act), 179
Bituminous Coal Conservation Act (Guffey-Snyder Coal Act of 1935), 179
Black, Hugo, 99
Blaffer, R. L., 169
Blaw-Knox Co., 139
Bockus, C. E., 177–78
Boochever, George, 201
Booth, Willis, 80
Bowles, Charles E., 160
Brady, Robert, 58
Brewing industry, 114
Brydon, John C., 176
Burkhardt (E.) & Sons Steel and Iron Works, 240n. 71
Business ethics, 62, 64, 72, 89, 92, 93.; See also Trade associations: codes of ethics
Business Independence League, 188
Business Week, 95, 102, 118, 165, 168, 191, 234nn. 7 and 15
Butler, Joseph G., Jr., 130
Butler, Rush C, 87
California Dept. of Natural Resources, 153
Cambria Steel Co., 24
Campbell, James A., 130
Canal Carriers Assn., 237n. 64
Canton Tin Plate Corp., 240n. 62
Capital Issues Committee (WIB), 22
Cartels, 56, 63, 75, 103, 105, 113, 120, 122, 123, 134, 146, 151, 164, 177–78, 180, 200, 204, 207, 209, 228n. 90
Carter, John L., 131
Carter Oil Co., 157
Carter v. Carter Coal Company, 179
Cement Institute, 117
Cement Manufacturers Protective
Association v. U.S., 56
Chadbourne, Thomas L., 98
Chain and discount stores, 17, 64, 70, 85, 182–84, 188, 191–93, 195-
Champlin Refining Company v. Corporation Commission of Oklahoma, 244nn. 59 and 60
Chandler, Alfred, Jr., 31–33, 35, 36, 46, 182, 210, 211–12, 228n. 90
Chaos theory and nonlinearity, 37–45, 46–49, 60, 154, 181, 208, 211–13; and organizational systems, 37–42, 47, 181, 208, 211–13. See also Entropy; Equilibrium conditions; Prigogine, Ilya; Stengers, Isabelle
Charls, George H., 133
Cheney, O. H., 79, 86, 230n. 29
Chicago Malleable Castings Co., 240n. 71
Cities Service Co., 148
Civil Aeronautics Act of 1938, 120
Civil Aeronautics Board (CAB), 14
Civilizations, collapse of, 42–45, 122. See also Durant, Will and Ariel; Quigley, Carroll; Toynbee, Arnold
Clark, Bennett, 115
Clarkson, Grosvenor B., 23, 24, 25, 27
Coal Age, 179
Coal industry, 17, 65–66, 87, 116, 140, 170–79; competition from alternative fuels, 170–76; prices, 174, 175, 177–78; production, 170–78, 179
Codes of ethics. See
Trade associations: codes of ethics
Coercion, 75–76, 77, 78, 82, 87–88, 94–96, 98–99, 106–8, 120, 122, 133, 135–36, 183, 201–2, 231n. 61, 232n. 79
Coffin, Howard E., 24
Collective behavior, 73–76, 103, 112–13, 122, 131, 133, 136, 207, 208; conflict with individual interests, 73–76, 77, 110, 131, 132–33, 153, 205–6, 208, 209, 246n. 115
Collective thinking, 19, 28–31, 33–35, 49, 51, 76, 88–89, 92, 95, 97, 103, 110, 133, 136, 176, 205–6, 207, 246n. 115
Collins, Ray M., 151
Communications industry, 96
Competition: “cooperative,” 19, 28, 48, 51–52, 55, 51, 58, 59, 60, 62, 62, 65, 78, 79, 81, 87, 92, 121, 123, 128, 131, 133, 137, 140, 141, 143, 146, 148, 150, 154, 157–58, 159, 177–78, 187, 197–98, 243n. 38; “cutthroat,” 19, 64, 98, 104, 115, 120, 139, 152, 176, 177, 189; “demoralizing,” 102, 155, 170; “destructive,” 26, 52, 62, 81, 97, 98, 103, 106, 109, 115, 118, 120, 124, 126, 128, 129, 133, 137, 139, 141, 159, 204, 210; “fair,” 63, 102, 117, 127, 128, 132, 137, 178, 179, 185, 205, 207; international, 129; “New,” 53; “noncooperating minority,” 63, 74, 95, 104, 117, 138, 141, 154, 231n. 61; perfect, 56, 73, 128; political restraints upon, 44, 47, 107–8, 133, 135–36, 178–79, 183, 188–91, 193–97, 199, 200–205, 208–14, 246n. 2; “unfair,” 41, 52, 57, 70, 83–85, 86, 108, 126, 138, 139, 140, 164, 167, 178, 184, 185, 187, 188, 189, 194, 198, 202, 208; “unrestrained,” 40, 43–44, 59, 72, 75, 79, 82, 105, 108, 128, 131, 187; “wasteful,” 52, 57, 61, 79, 81, 89, 120, 137, 169, 170, 185, 224–25n. 55, 241n. 1(see also Conservation; Waste of resources). See also Government regulation; Industrial self-regulation; Taxation as means of regulating competition
Compton, Wilson, 58
Congress of American Industry, 115
Conkin, Paul, 107–8
Connally Act, 170
Conservation, 24, 25, 26, 97, 145–46, 148, 150–52, 153, 154–60, 162, 164–65, 168, 169, 170, 176–77, 179, 180, 24In. 3. See also Competition: “wasteful”; Waste of resources
Conservative thinking, 35–37, 48, 60
Consumers Goods Industries Committee, 115, 116
Continental Bridge Co., 240n. 66
Coolidge, Calvin, 148
Cooperation. See
Competition: “cooperative”; Industrial self-regulation
Corbaley, Gordon C., 81
Corporate-state policies, 103, 121, 209, 212
Cotton textile industry, 197–205; economic conditions, 199–200, 203
Cotton Textile Institute (CTI), 198–99, 202
Council for Industrial Progress, 237n. 55
Council of National Defense, 22–23
Courts for industry, 86–88, 200, 237n. 55
Crucible Steel Co. of America, 130
Cullinan, J. S., 159
Dahl, Robert A., 213
Daugherty, Harry, 54
Deere and Co., 24
Department stores, 17, 182, 189, 191
Derwoude, Van, 169
Deterding, Henri, 159–60, 243n. 38
Devine, Edward, 174
Dickinson, John, 100
Dillon, Clarence, 24
Dimock, Marshall, 107
Disparagement of competitors, 84, 110
Distribution of goods and services, 16–17, 85, 89, 182–84, 185–87, 191–92, 206
Domhoff, G. William, 215n. 3
Donham, Wallace B., 92
Doughton, Robert, 115
Douglas, Paul, 14
Downs, Anthony, 42
Drug and Chemical Markets, 70
Drug Institute, 189. See also Pharmaceuticals industry
Dunn, Samuel O., 229n. 1
duPont, Alfred I., 110
duPont, Pierre, 114
Durant, Will and Ariel, 43
Eastern States Retail Lumber Dealers Assn., 64
Eastern States Retail Lumber Dealers Association v. U.S., 64, 225n. 56
Eddy, Arthur Jerome, 53
Edgerton, J. E., 95, 234–35n. 27
Electrical Manufacturers’ Council, 26
Electrical manufacturing industry, 109
Emery, James, 80
Entropy, 37–45, 48, 49, 96–97, 108, 122, 181, 208. See also Chaos theory and nonlinearity; Equilibrium conditions
Entry into market, 74, 77, 110, 112, 139, 140, 153, 164, 205–6, 211
Epstein, Ralph C., 75
Equilibrium conditions, 38, 44, 91, 96–97, 103, 127, 129, 145. See also Chaos theory and nonlinearity; Entropy
Fair Labor Standards Act, 14, 205
Fair-trade laws, 183, 188, 193–95
Farish, William S., 148, 159, 165
Fascism, 81, 99, 121. See also Benito Mussolini
Federal Communications Commission (FCC), 14
Federal Oil Conservation Board (FOCB), 148, 155, 243n. 38
Federal Power Commission (FPC), 14
Federal Reserve Board, 60, 90, 135
Federal Trade Commission (FTC), 54, 82–87, 92–93, 96, 140, 146, 159, 177, 184, 187, 190; Trade Practice Conferences, 54, 59, 82–86, 92, 93, 118, 161, 169, 177, 184, 230n. 14
Federal Trade Commission Act, 83, 84
Feiker, F. M. 58
Filene, A. Lincoln, 86, 186–87, 190
Filene, Edward A., 184–85, 190
Filene’s (William) Sons Co., 184
Firestone, Harvey, 111
First National Bank of Chicago, 176
First National City Bank, 24
Fiske, Haley, 61
Fitts, Charles N., 131
Flannery, M. Markham, 85–86
Fleming, Harold, 123
Flynn, John T., 77–79, 201, 229n. 1
Food, Drug and Cosmetic Act, 119
Food processors, 119
Ford, Henry, 104
Ford Motor Co., 38
France, Royal W., 197
Frank, Jerome, 100–101
Fraud and misrepresentation, 62, 84, 140–41, 184, 188, 201, 236–37n. 53
Friedman, Milton, 90
Frost, E. J., 132–33
Gales, George, 195
Gary, Elbert, 24, 80, 123–24, 126–30, 134–35, 136 "Gary dinners,” 60, 103, 128, 213
Gaskill, Nelson, 110
Gas Products Assn., 224n. 55, 225n.59, 226n. 67, 227–28n. 86
General Electric Co., 24, 72, 93, 95
General Motors Corp., 114
Geometric Tool Co., 141
Gibbs, Malcolm G., 195
Gibson, Charles, 69
Gifford, Walter S., 24, 25, 36–37
Gilbert, James, 28, 49–50, 215n. 3
Girdler, T. M., 139
Glover, H. A., 176 "Golden rule,” 63, 128
Goodwill, 72
Goodyear Tire and Rubber Co., 99, 104
Gorrell, Edgar S., 120
Gould, M. L., 176
Government planning, 99, 100, 101, 109, 121, 135, 138
Government regulation, 75–76, 77–104, 108, 133–35, 139–40, 143, 148, 150–60, 163, 164, 166–70, 179, 183, 188–91, 192–97, 199, 200–205, 208–14, 230n. 29, 231n. 61, 236–37n. 53, 246n. 2. See also Taxation as means of regulating competition
Graham, Frank, Jr., 24In. 1
Grain and Feed Dealers National Assn., 237n. 65
Gray, William H., 152
Great Depression, 14, 18, 75, 90–91, 136, 162, 187, 209; and marketplace remedies, 111–12
Green, William, 101
Greene, Edward L., 186
Green River ordinances, 183, 246n. 2
Grocery trade, 85, 184, 187–88, 193
Guffey-Snyder Coal Act of 1935 (Bituminous Coal Conservation Act), 179
Guffey-Vinson Act (Bituminous Coal Act of 1937), 179
Gulf Oil Corp., 148
Hamlin, Scoville, 42
Harding administration, 54
Harriman, Henry I., 98–99, 101, 102, 109, 116, 232n. 79, 233n. 90, 234n. 10
Hartig, J.H., 199
Hawley, Ellis, 215n. 3, 233n. 86, 235n. 37
Haynes, Williams, 70–71
Hazen, John E, 130
Hazlewood, Craig B., 159
Heermance, Edgar, 73
Hillman, Sidney, 102
Himmelberg, Robert, 26, 75, 85, 209, 215n. 3
Hines, Walker D., 198, 199, 200
Holmes, Oliver W., 47–48
Holmes, R. C., 165
Hood, Ernest, 202–3
Hook, James W., 141
Hoover, Herbert, 91, 99, 159; responses to depression, 91; trade association movement, 52, 54–55
Horner, W.S., 131
“Hot oil.” See Petroleum industry
Hudson Motor Car Co., 24
Humble Oil Co., 148, 150, 165, 169
Hurley, Edward R, 159
Illinois Manufacturers Assn., 114, 159
Independent Petroleum Assn. of America (IPA), 160, 167, 169–70
Individualism, 19, 29, 34–35, 50, 51, 52, 61, 79, 80, 92, 97, 104, 110, 111, 131–33, 136, 137, 139, 164, 176, 185, 203, 207, 228–29n. 97
Industrial self-regulation, 19, 26, 28, 49, 59, 75, 77–78, 81, 86, 89–90, 94, 99, 104, 120–22, 157, 177, 184, 202, 208, 235–36n. 44. See also Competition: “cooperative”
Industry and Business Committee for
NRA Extension, 205
Industry “dictators,” 137, 140, 151, 159
Institute of American Meat Packers, 237n. 65
Institute of Carpet Manufacturers of America, 118
Institutionalization, 41–45, 95, 108, 122
International Assn. of Electrotypers of America, 224nn. 53 and 55
International Assn. of Garment Manufacturers, 118, 199, 224n. 55, 226n. 67, 227nn. 73 and 78, 227–28n. 86
International Assn. of Milk Dealers, 64–65, 225n. 62, 227n. 77
International Business Machines (IBM), 104, 110
International Harvester Co., 24, 45, 123, 125
International Monumental Granite Producers’ Assn., 227n. 73
Interstate Commerce Commission (ICC), 53, 118, 119
Interstate compacts, 117, 148, 164, 170
Interstate Compact to Conserve Oil and Gas, 170
Investment Bankers Assn., 118, 236–37n. 53
Johnson, Alba B. 25–26
Johnson, Hugh, 25, 100, 106, 111, 120, 178, 234n. 2
Joint Trade Relations Committee, 186
Jones & Laughlin Steel Corp., 130, 143
Jordan, Virgil, 100–101
Jouett, E. S., 104
Kahn, Julius, 135
Kahn, Otto, 80
Kelly, Cornelius, 95
Kendall, Henry, 202, 248–49n. 59
Kindleberger, Charles, 91
King, Willis L., 130
Kittelle, Sumner, 85
Knox Consolidated Coal Co., 176
Kohr, Leopold, 46–47
Kolko, Gabriel, 15, 45–47, 209, 210, 215n. 3, 218n. 45
Koller, Roland, Jr., 226n. 68, 226–27n. 72
Kuhn, Loeb and Co., 80
Labor policies, 94, 99, 116, 117, 121, 134, 138, 140, 141–42, 166, 175, 176, 178–79, 188, 195, 198, 199, 202–3, 205, 208–9; collective bargaining, 101, 102; employment and wages, 89, 112, 116, 117, 138, 140, 141–42, 166, 176, 178–79, 189, 195, 199, 202–3, 205, 208–9, 233n. 90, 234n. 27; minimum wages, 99, 101, 116, 176, 188, 195, 203, 205, 208–9, 233n. 90, 248n. 42; unemployment compensation, 94, 97; working hours, 97, 99, 101, 116, 117, 166, 179, 188, 195, 198, 202–3, 205, 233n. 90; workmen’s compensation, 94, 97. See also National Recovery Administration: labor policies Labor unions and the NRA, 99, 100–102, 121
LaFollette, Robert, 101
Lamont, Robert, 137
Lamont, Thomas W., 80
Lauck, W. Jett, 101
Lazonick, William, 44, 219–20n. 78
Leffingwell, Russell, 24
Legge, Alexander, 24
Lehman, Albert C., 139
Letwin, William, 31
Leuchtenburg, William, 21
Lewis, John L., 179
Liberalism, 100–101
Licensing, 134, 139, 151, 188, 200–201, 226–27n. 72; as a means of enforcing codes, 53, 87–88, 100, 102, 110, 134, 140, 201
Liggett (Louis K.) Co., 195
Lindblom, Charles E., 213
Link-Belt Co., 140
Litchfield, Paul W., 99, 103, 104
Littleton, Martin, 134
Louisville & Nashville Railroad, 104
Lovett, Robert S., 24
Ludlum Steel, 139
Lumber industry, 17, 68, 112, 140, 146
Mahan, E. C., 176
Managerial attitudes, 35–37, 41, 47–49, 95, 182. See also Schumpeter, Joseph
Maple Flooring Manufacturers Association v. U.S., 56
Marketplace as regulator, 14, 32, 35, 96, 107, 140, 142, 148, 160, 163, 180, 191, 197, 207–14, 217n. 29
Marland bill, 166–67
McGraw-Hill Co., 58
McRoberts, Samuel, 24
Mead, George H., 116
Means, Gardiner, 35, 36, 120–21
Mergers and consolidations, 31, 45–46, 60, 140, 176, 199, 200, 209, 210, 228n. 90; profitability of firms, 45
Metropolitan Life Insurance Co., 61
Mises, Ludwig von, 80
Moffett, James A., 167
Moley, Raymond, 100
Moline Plow Corp., 25
Monopolies, 60, 193, 210–11, 213
Montague, Gilbert H., 100, 118
Montgomery Iron & Steel Co., 240n. 66
Montgomery Ward and Co., 190
Morgan, John J. B., 91
Morrow, Dwight, 24
Mostow, Elmer, 85
Motion picture industry, 85
Motor Carrier Act of 1935, 119
Motor Equipment Wholesalers Assn., 197
Munkirs, John, 35
Mussolini, Benito, 80–81, 230n. 9
National American Wholesale Grocers Assn., 193. See also American Wholesale Grocers Assn.
National American Wholesale Lumber Assn., 222n. 22
National Assn. of Automotive Mutual Insurance Cos., 224n. 55
National Assn. of Canned Food Packers, 228n. 91
National Assn. of Cotton Manufacturers, 202
National Assn. of Credit Men, 114
National Assn. of Ice Cream Manufacturers, 225nn. 58 and 62, 227n. 77, 228n. 87
National Assn. of Independent Oil Producers, 152
National Assn. of Manufacturers (NAM), 51, 80, 95, 97, 100, 102, 109, 110, 115, 117, 237n. 65
National Assn. of Mutual Savings Banks, 237n. 65
National Assn. of Oxy-Chloride Cement Manufacturers, 226n. 67, 227–28n. 86
National Association of Retail Druggists (NARD), 191, 193, 197. See also Pharmaceuticals industry
National Assn. of Retail Grocers (NARG), 66, 118, 183–84, 188, 193, 197, 223n. 50, 226nn. 66 and 67. See also National Retail Grocers Association
National Assn. of Sheet and Tin Plate Manufacturers, 131
National Assn. of Upholstered Furniture Manufacturers, 225n. 65
National Assn. of Wool Manufacturers, 118
National Automobile Dealers Assn., 118, 191
National Basket and Fruit Package Manufacturers Assn., 227n. 78
National Bituminous Coal Commission, 179
National Boot and Shoe Manufacturers, 224n. 55
National Bridge Works, 130
National City Bank of New York, 197.
National Coal Association (NCA), 176, 177
National Commercial Fixture Manufacturers’ Assn., 225n. 63, 227n. 86
National Conference of Bituminous Coal Producers, 179
National Distribution Conference, 185
National Electrical Manufacturers Assn., 93, 118
National Federation of Textiles, 205
National Fertilizer Assn., 109
National Flat Rolled Steel Products Assn., 133
National Food Brokers Assn., 193, 224nn. 54 and 55
National Founders Assn., 131
National Hardware Assn., 133
National Highway Freight Assn., 237n. 64
National Industrial Conference Board (NICB), 58–59, 61–62, 79, 93, 100, 237n. 65
National Industrial Recovery Act, 14, 19, 54, 81, 82, 90, 103, 105, 137–38, 166, 205; drafting of, 99–104, 166–68; renewal efforts, 115–16, 118, 190–91, 205
National Knitted Outerwear Assn., 225n. 60
National Labor Relations Act, 14
National Lumber Manufacturers’ Assn., 58, 241n. 3
National Machine Tool Builders’ Assn., 224n. 55, 225nn. 58 and 65, 226n. 67, 227n. 74
National Petroleum Marketers Assn., 84
National Publishers Assn., 224n. 55
National Recovery Administration (NRA), 15, 86, 93, 103, 105–22, 141–44, 178–79, 188–91, 194–95, 202–6, 213, 235–36n. 44; business attitudes toward, 106–18, 120–22, 137–44, 165–70, 178–79, 188–91, 194–95, 202–5, 234n. 10, 234–35n. 27, 235n. 28; coal industry, 178–79; code authorities, 107–8, 178; code-drafting procedures, 106–8; codes of fair competition, 101, 105–13, 121, 137, 168–69, 178–79, 185, 188–91, 203–5; Industrial Advisory Board, 116; inventory controls, 112, 169; labor policies, 99, 100–102, 111, 112, 116, 121, 141, 143, 169, 178, 203, 234n. 27; petroleum industry, 168–69; poultry industry, 117 (see also Scbechter case); productive capacities, 105, 112; regulation of prices, 105, 108, 110, 169; regulation of production, 105, 108, 112, 169; retailing industry, 111, 188–91, 194–95; steel industry, 137–44; textiles industry, 202–5
National Retail Coal Merchants Assn., 65–66
National Retail Council, 190–91
National Retail Druggists Assn., 193
National Retail Dry Goods Assn. (NRDGA), 186–88, 190, 193–94
National Retail Grocers Assn., 193. See also National Assn. of Retail Grocers
National Retail Hardware Assn., 197, 224n. 55
National Retail Jewelers Assn., 225n. 64
National Slate Assn., 225n. 59
National Steel, 143
National Wholesale Druggists Assn., 193
National Wholesale Grocers Assn., 188, 223n.50
New Deal, 14, 18, 73, 82, 90, 93, 99, 102, 141, 165–70, 201.
New Jersey Retail Grocers Assn., 191
New York Board of Trade, 114
New York Pharmaceutical Council, 191
New York State Chamber of Commerce, 117
New York Stock Exchange, 80
North Texas Oil and Gas Assn., 167
Northwestern Lumbermen’s Assn., 68
Nye bill, 118
Oil and Gas Assn. of Okmulgee, Okla., 152
Oil and Gas Journal, 146–48, 158, 168
Oklahoma State Corporation Commission, 150, 151
Oklahoma Stripper Wells Assn., 167
O’Leary, John W., 59
Olson, Mancur, 73–76, 82, 89, 133, 135, 136, 153, 160, 199, 208
“Open-pricing” systems. See Pricing practices
Organizational size: business organizations, 29–37, 40–42, 217–18n. 30; conservative practices, 35–37, 40, 42; disadvantages of size, 45–46, 211–12; domination within industries, 45; earnings related to size, 45–46; efficiencies of, 45–46, 144, 210, 211–12; political systems, 29–30, 212; symbiotic relationship of business and political organizations, 29–31, 212
Outlook, 61
Palmer, Carleton E., 114–15
Panama Refining Company v. Ryan, 117, 169
Paper industry, 116
Parker, Edwin B., 26, 57–58, 59, 81, 86, 223n. 33
Parrish, Michael, 215n. 3, 236–37n. 53
Patman, Wright, 196
Patten, Simon, 29
Peek, George N., 24
Pennsylvania Grade Crude Oil Assn., 167
Peoples Drug Stores, 195
Perkins, George W., 123, 133–34
Pershing, John J., 159
Person, H. S., 89
Petroleum industry, 16–17, 84–85, 112, 140, 145–70; controls on production, 148–52, 155–60, 162–63, 166–67, 169, 170; discovery of new fields, 149, 152, 158, 162; federal regulation, 148, 164, 166–68, 169–70; “hot oil,” 117, 165–70; independent producers, 152, 155, 157, 158, 165, 168, 169; legal system’s failures, 149–50; production and price levels, 146–49, 162–66; prorationing, 150–52, 156, 159, 165, 168; state regulation, 150–51, 161, 162, 165, 166–68, 170; unitized/common pool production, 150–52, 154
Pharmaceuticals industry, 104, 114–15, 116, 118, 189, 191, 193
Philadelphia Board of Trade, 114
Piel, William, 114
Pierson, Lewis E., 59, 80–81, 223n. 35
Pittsburgh Steel Co., 130
Plant, George L., 187
Plywood Manufacturers Assn., 226n.67
Podell, David, 100
Pricing and trade practices, 62, 64–71, 129–30, 140–41; administered prices, 71; “below cost” selling, 53, 65, 66–68, 84, 85, 110, 138, 140, 141, 143, 161, 177, 184, 188, 189, 194, 203, 240n. 71; “commercial bribery,” 57, 70–71, 84, 85, 110, 132, 179, 184; consignment sales, 177, 179, 247n. 12; control of prices, 89, 94, 97, 105, 140; (see also National Recovery Administration, prices: regulation of credit policies, 60, 71, 178); demoralizing, 155; discount policies, 69, 84, 116, 178, 188, 189, 191–93; “discriminatory” prices, 69–70, 84, 85, 92, 110, 111, 130, 143, 178–79, 183, 191–93, 227n. 79(see also Robinson-Patman Act); “fair” prices, 126–27, 130, 132, 138, 178, 185, 233n. 90; fluctuations in prices, 157, 160, 186; “free goods,” 69, 161, 184, 188; government regulation, 96; high prices to suppliers, 64–65; “loss-leader” selling, 188, 194; low prices, 127–28, 141, 145, 155, 164, 199; minimum prices, 110, 167, 168, 179, 193–94; minimum profits, 189; “open pricing,” 53, 55–57, 68, 84, 110, 111, 116, 130, 132, 142–43, 161, 177, 222n. 24, 224–25n. 55; (see also Pricing and production reporting); “predatory” pricing, 65, 66–68, 74, 194, 226nn. 68, 70, and 71, 226–27n. 72; “price cutting,” 19, 64, 65, 66, 102, 108–9, 111, 115, 120, 121, 129–33, 136, 137–38, 139, 140, 144, 146, 158, 161, 168, 176, 178, 184, 188, 189, 193, 194, 195, 199, 200, 202, 208; “price fixing,” 56, 85, 86, 104, 109, 138, 139, 158, 161, 167, 169, 178, 179, 200, 233n. 90, 234–35n. 27; “price wars,” 64; rebate policies, 53, 69, 70, 84, 85, 92, 110, 111, 132, 141, 143, 161, 178, 184, 188; secret prices, 53, 111, 184, 224–25n. 55; special inducements, 140–41, 161; speculative prices, 142; stabilization of prices, 91, 93, 98, 119, 123, 127, 129–30, 138, 140, 142, 145–46, 155–57, 166, 169, 176–77, 198, 202; trade-in allowances, 111, 141; undercutting bids of competitors, 68–69, 132, 227n. 73; uniform prices, 130, 132, 142
Pricing and production information, 24, 53, 54, 55–57, 73, 93, 134, 187, 198–99, 247n. 12; accounting systems, 141; distribution of data, 56, 93, 134, 187; prediction, 55–57; record keeping, 53; reporting, 24, 55–57, 199; —, aggregate vs. individualized data, 55–57;,
Prigogine, Ilya, 39–41
Proctor, F. C., 152–53
Production: controlling, 85, 86–87, 89, 94, 97, 98, 105, 112, 116, 119, 129, 130, 140, 146, 148–60, 198, 199, 200, 202–3, 233n. 90, 234–35n. 27; overproduction, 91, 92, 98, 103, 155, 158–60, 188, 189, 198, 200; plant capacity, 105, 112, 129–30, 139, 141, 164, 169, 170–75, 199, 202, 203; stabilized, 132, 140, 146–60, 201
Profits, 126, 127, 130, 189, 199
Progressives, 100–101
Purnell, Frank, 143
Radio Corp. of America (RCA), 72
Radosh, Ron, 215n. 3
Railroads, 32, 98, 119, 218n. 45
Railway Business Assn., 237n. 64
Rand, James Henry, 100
“Rationalization,” 89–90, 136–37, 138, 141, 157, 158, 163
Remington Rand, Inc., 100
Replogle, J. Leonard, 24
Requa, Mark, 150
Resale price maintenance. See Fair-trade laws
Resiliency of firms, 38–39, 40, 41, 44, 45, 47, 49
Retailers National Council, 190
Retailing industries, 17, 86, 104, 115, 182–97, 205–6; federal regulation, 187–97; independent retailers, 64, 182–84, 188, 191–92, 193, 195-97, 248n. 42; state regulation, 183–84, 188, 193–94
Ritchie, Albert C., 59
Roberts, George E., 197–98
Robinson-Patman Act, 70, 188, 192–93. See also Pricing practices: discriminatory pricing
Roosevelt, Franklin D., 59, 99–100, 103–4, 106–7, 137, 139, 165, 166, 167, 202
Roosevelt, Theodore, 15
Roper, Daniel C., 100
Rosenwald, Julius, 24
Rothbard, Murray N., 215n. 3, 231nn. 48 and 50, 234nn. 22 and 23, 246n. 114, 247n. 32
Royal Dutch Shell Cos., 159, 169
R. S. Sterling v. E. Constantin, 244n. 61
Rubber Assn. of America, 224–25n. 55
Rubber industry, 111
Rubber Manufacturers Assn., 106
Ruppert, Jacob, 114
Ryan, John D., 24
Sachs, Alexander, 102
Salisbury, E. P., 158
Salt’s Textile Co., 197
Saroyan, William, 115
Sawbrook Steel Castings Co., 240n. 71
Schechter v. United States, 117, 119, 121, 143, 169, 179, 190–91, 204–5, 235–36n. 44. See also National Industrial Recovery Act; National Recovery Administration.
Schlesinger, Arthur M., Jr. 22
Schmookler, Jacob, 174–75, 245n. 97
Schumpeter, Joseph A., 17, 18, 20, 35–36, 48, 95, 186, 211; “Creative Destruction,” 17, 41; “owner” vs. “manager” controlled firms, 35–37, 41
Schwab, Charles M., 24, 129–30, 132, 136, 137–38, 239n. 20
Schwartz, Anna, 90
Sears, Roebuck and Co., 24
Securities and Exchange Commission (SEC), 14, 118
Securities industry, 118
Security Owners Assn., 237n. 65
Seubert, Edward G., 155–56
Shaffer, Butler, 217n. 29, 220n. 79
Sheldon, Oliver, 231nn. 39 and 40
Sherman Antitrust Act, 26, 54, 55, 64, 87, 98, 125, 133, 177, 226n. 70.
See also Antitrust laws; specific cases
Shipping Board Emergency Fleet Corporation (WIB), 22
Simmons, E. H. H., 80
Simons, Henry, 90–91
Sinclair, Harry, 165, 167, 169
Sloan, Alfred, 114
Sloan, George, 115
Smith, Adam, 121, 182, 195, 213–14
Social Darwinism, 31
Socialism, 99, 104, 136, 195, 202, 229n. 1
Southern Appalachian Coal Operators’ Assn., 177
Southern Metal Trades Assn., 133
Southern States Industrial Council, 234–35n. 27
Spencer, Herbert, 105
Spicer, R. E., 104
Spruce Production Corp. (WIB), 22
Squibb (E. R.) & Sons, 114–15
Standardization, 26, 29, 43, 44, 71–73, 89, 93, 99, 102, 119, 176, 186, 200
Standard Oil (Calif.), 169
Standard Oil (Ind.), 155
Standard Oil (N.J.), 148, 150, 158, 167, 243n. 38
Stanley Committee (U.S. House of Rep.), 134
St. Clair, L. P., 169
Steel Founders Society of America, 138
Steel industry, 17, 60, 107, 112, 116, 123–44, 165; economic conditions within, 124–25; World War I, 124–25
Stengers, Isabelle, 39–41
Stettinius, Edward R., 24
Straus, Percy, 188
Strobel Construction Co., 240n. 71
Sugar Equilization Board (WIB), 22
Sugar industry, 119, 224–25n. 55, 237n. 59
“Sunday closing” laws, 183
Sunshine Anthracite Coal Company v. Adkins, 246n. 113
Swope, Gerard, 24, 93–95, 101, 104, 114
Swope, Herbert B., 24
Swope Plan, 93–95, 99, 121, 137
Taeusch, Carl F., 16–17, 18, 20, 71, 182
Taxation as means of regulating competition, 179, 183, 188, 196–97; “death sentence” bill, 196–97. See also Government regulation
Taylor, Myron C., 133
Taylor Society, 89
Taylor-Wharton Iron & Steel Co., 240n. 62
Teagle, Walter C., 148, 152, 160, 167, 169, 170
Temin, Peter, 90
Temporary National Economic Committee (TNEC), 46, 47, 121
Territorial divisions of markets, 19, 105, 131, 178, 184
Texas Railroad Commission, 162, 163
Textiles industry, 17, 88, 112, 116, 197–206; prorationing of production, 201
Textile World, 202
Thayer, Harry, 109
Thomas-Disney bill, 169
Thompson, William I., 219nn. 74 and 75
Thorelli, Hans, 31
Tidewater Associated Oil Co., 158
Tool Steel Gear & Pinion Co., 240n. 71
Torrence, George, 140
Toy Manufacturers of the U.S.A., 118
Toynbee, Arnold, 43
Trade associations: codes of ethics, 51, 53, 57, 61–76, 82, 83, 84, 107, 109–10, 112, 123, 133, 148, 160–61, 177, 185, 186, 187, 201, 202, 223n. 50, 226n. 67, 227–28nn. 73–78, 86–87, and 91; collective thinking, 19, 51(see also Collective behavior Collective thinking); enforcement problems, 53, 54, 59, 73–76, 77, 81, 82, 84–85, 89, 107, 133, 135, 142, 161, 165, 201–2, 203, 227n. 91; functions of, 52–76, 79, 118, 183–84; growth of, 16, 25, 51–55, 57–58, 59–61; legal powers and status, 54, 55–57, 106–8, 117, 202; NRA roles, 99, 105–18; political programs, 54, 82–86, 93–95, 102, 115–20, 183–84, 202, 209, 229n.l; WIB roles, 21, 25
Trade stabilization, 60, 86, 96, 98–99
Trans-Missouri Freight Association (U.S. v.), 54
Transportation industry, 112, 119–20
Traylor, Melvin A., 176
Trenton Potteries Company (U.S. v.), 178
Tritle, J. R., 233n.90
Truscon Steel Co., 135
Tugwell, Rexford G., 73, 88–89, 100, 101, 121
Turner, Donald, 67
Union Oil Co., 169
Union Pacific Railroad, 24
Union Trust Co. of Chicago, 159
United Independent Retail Grocers and Food Dealers Assn., 193
United Mine Workers Union, 101, 175, 179
United States Bureau of Corps., 34
United States Chamber of Commerce, 22, 23, 25, 26, 51, 54, 55, 57–58, 59, 81, 82, 87, 95, 97, 98, 99, 103, 109, 113–14, 116, 117, 146, 185, 237n. 65
United States Coal Commission, 174
United States Dept. of Commerce: Business Advisory and Planning Council, 115
United States Dept. of Justice, 158
United States House of Representatives: Committee on Labor, 202
United States Housing Corp. (WIB), 22
United States Senate: Committee on Finance, 116; Committee on Interstate Commerce, 96, 134
United States Steel Corp., 45, 123, 125–26, 130, 133, 143
United States Wholesale Grocers Assn., 197
United Women’s Wear League, 200
Urofsky, Melvin, 215n. 3
Vanadium-Alloys Steel Co., 240n. 66
Van Camp (George) & Sons Company v. American Can Company, 70
Vanderlip, Frank A., 24
Van Horn, Peter, 205
Veasey, James A., 157
Veblen, Thorstein, 13, 21, 33–35, 51, 77, 207; absentee ownership, 33; craftsman vs. workman, 33; machine process, 33
Voluntary restraints on competition, 19, 60, 73, 77, 79, 86, 96, 97, 99–100, 117, 149, 153, 163, 200, 203, 209, 232n. 79; ineffectiveness of, 73, 153See also Competition; Trade association codes of ethics; —, enforcement problems
Wagner, Robert, 100–101
Wagner Act, 176
Walker, James, 105
Wall Street Journal, 103
Wanamaker, John, 88
War Finance Corp. (WIB), 22
War Food Administration (WIB), 22
War Industries Board (WIB), 15, 18, 19, 21–28, 50, 51, 59, 87, 88, 100, 102; commodity sections, 23–24, 26
War Labor Board, 58
War Service Committees (WIB), 23
Waste of resources, 97, 145–46, 150–51, 153–58, 163, 164, 180, 207. See also Competition: wasteful; Conservation
Watkins, Myron, 15
Webb-Pomerene Act, 200
Western Electric Co., 109
Western Pine Manufacturers’ Assn., 222n. 22
Western Retail Implement and Hardware Assn., 224n. 55, 227n. 74
Westinghouse Electric Co., 233n. 90
Whiteside, Alexander, 248–49n. 59
Wholesaling, 182, 191, 192, 193
Wilcox, Clair, 215n. 1
Wilkinson, Horace S., 130–31
Willard, Daniel, 24
Williams, J. Harvey, 98
Williamson, Oliver, 31–32
Woll, Matthew, 102
Wool industry, 198, 201, 203. See also Textiles industry
Wool Institute, 88, 248–49n. 59
World War 1, 18, 19, 20, 21, 27–28, 49, 51, 58, 60, 78, 91, 102, 123–25, 170, 174, 175
Youngstown Sheet and Tube Co., 130, 143
Zimmermann, Erich, 149
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In Restraint of Trade: The Business Campaign Against Competition, 1918-1938
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