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107; upon intangible
property, 79-80.
Carnegie Company, 310,
313-314.

Cash, issuance of stock for,

78 (see capitalization,
basis of).

Causes of combinations, 21-

55, 229-230.
Certificate of incorporation,
provisions concerning,
274-276; amendment of,
277-278; of stock, defi-
nition of, 78; provisions
regulating issuance of,
285-288.

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troleum, 150-157 (see
Standard Oil Company);
in sugar industry, 133-
146 (see American Sugar
Refining Company); in
steel and wire, 165-170;
in tin plate, 157-164; in
whiskey, 146-150; of la-
bor and capital at expense
of consumer, 187-188,
235-239, 245; of various
concerns into one great
corporation, 117 - 124,
309.

Combinations, ability under,
38-41, 213; advertising
may encourage, 208; ag-
riculture not adapted to,
208-209; ambition pro-
motes, 73-74; among
manufacturers, 14-20;
bankruptcy prevented by,
196-198, 241, 248; banks,
relation of to, 91-97; beef,
control of by, 209; black-
mailing of, 190-194; by-
products, utilization of,
153-154, 213; capital,
amount of, affects, 16-20,
64-76, 209; capitalization
of, 98-107; character of
industries adapted to, 208-
209; closing of plants
by, 34, 176-177, 186-187,
196, 215; destruction of,
47, 217-219; discretion
of employees of, 203-
206; economies of, 21-
43, 130-131, 153-154,
171-189, 213, 229-230;
effects of, 130-170, 190-
211; efficiency under, 125,
186; employees, how af-

fected by, 24, 26-27, 171-
189, 201-207, 235-239,
244-245; energy, waste
of, prevented by, 42-43;
export trade, relation to,
75-76,

ma-

213, 241-244;
favors to, chapter iii., 44-
55, 60, 73 219-221; field
of, 208-210; financiering
of, 87-90; fittest, survi-
val of, under, 195-200;
flour, controlled by, 209;
individual self-direction
and, 194-207, 216; indus-
trial, in Europe, chapter
xii., 228-254; interna-
tional, 47-49, 222; labor
and, 24, 26-27, 171-189,
215, 224, 235-239, 244-
245; leather, 37;
chinery, how distributed
under, 36-38; manage-
ment and organization of,
chapter vii., 108-129;
milk, controlled by, 208;
millinery trade not adapted
to, 209; moral tone of
business, whether lowered
by, 216; organization and
management of, chapter
vii., 108-129; overreach-
ing by, 70-71, 149; pe-
troleum, controlled by
(see Standard Oil Com-
pany); power of, 176–
182, 211; prices, influ-
enced by, chapter viii.,
130-170, 240-244; pro-
duction, relation to, 33-
36, 186-187, 200-206,
240-241; proposed plans
for regulating, 251-307;
public, how affected by,

103-105; qualities, good
and evil of, 212-216; rail-
road, 204; raw material
and, 41-42, 121-123, 130,
133, 215, 234; retail trade
and, 11-14; salesmen un-
der, 24, 26-27, 182-183;
savings of, 21-43, 130-
131, 153-154, 171-189,
213, 229-230; social ef-
fects of, 96-97, 190-211;
State legislation against,
217-219; stock of (see
stock); tariff and, 44-49,
217, 221-222, 241-244;
thread, 47; underwriters
of, 90-97; unions and,
175-182, 235-239, 244-
246; wages, how affected
by, 132, 159, 167, 171-
189, 215; whiskey, 24,
26-27, 147-150, 171-172,
182, 196 (see competition,
corporations, monopoly,
pools, trusts).
Commercial travellers (see
salesmen).
Commissioner of corpora-
tions in Massachusetts,

99.
Committee of Manufacturers,

testimony of Mr. Green-
hut before, 172.
Common law concerning re-
straint of trade, supple-
mented by statutory pro-
visions, 218-219; inter-
pretation of, by English
courts, 249.
Common stock (see stock).
Comparative bookkeeping,

energy of managers stimu-
lated by, 235.

Competition, advertising un-
der, 15-16, 27-29, 108;
agreements limiting, II-
12, 33-34, 108-III, 153,
228-229 (see pools);
among manufacturers, 14-
20; capital affects ques-
tion of, 16-20, 209; de-
structive, 66-67; exces-
sive, 11-12, 17, 33-34,
108-111, 136, 140, 197-
200, 229; fear often pre-
vents, 68-69; fittest, sur-
vival of under, 195-200;
fluctuations in price un-
der unrestricted, 140-141;
legal monopoly prevents,
59; nature of, chapter i.,
10-20; nominal, 13; po-
tential, in case of a capi-
talistic monopoly, 61-72;
prices, not always fixed
by, 11-14 prices under,
usually high, 21; retail
trade and, II-14; sales-
men under, 23-27; wastes
of, chapter ii., 21-43 (see
combination).
Comptoir Métallurgique de
Longwy, 249.
Concealment of business of
corporations encourages
speculation, 126.
Consumers, degree to which
excessive competition ben-
efits, 197-200; increased
wages, how demand for
affects, 179-180; injury
of, through high prices,
215; plan to combine
interests of labor and
capital would be at ex-
pense of, 187-188, 238;

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Copper syndicate, Paris,
49.
Corn, price of, how re-
lated to price of spirits,
147.
Corporations, blackmailing
of, by legislators, 190-
194; capitalization of (see
capitalization, basis of);
Commissioner of, in Mas-
sachusetts, 99; conceal-
ment of business of, en-
courages speculation, 126
(see publicity); dishonor-
able practices, to what ex-
tent employees of, must
adopt, 207; European,
chapter xii.; industrial
combinations in Europe,
228-254; form of, largely
determines method of
management, 125-129;
German laws concerning,
107, 240; government in-
spectors of, 223, 268; im-
proper influencing of leg-
islatures and courts by,
190-194, 246; Massachu-
setts law concerning, 99;
New York Companies'

commercial,

pre-
vented by large combina-
tions, 241, 248.
Cross freights, 31-32, 213,
229 (see freights).
Crude oil, control of price
of, by Standard Oil Com-
pany, 155-156; effect of
discovery of new fields
upon price of, 156-157;
fall in price of, 152.
Cuban cane crop, effect of
shortage in, 145.

Act, 270-305; New York | Crises,
State Bar Association,
plan suggested by, for
capitalization of, 106-107;
normal profits, legislative
restriction of, to, 189;
ownership of, by a single
corporation, 117-124, 309;
Puerto Rico law concern-
ing, 99; proposed plans
for regulation of, 257-307;
regulation of, attempted
by United States and
many States, 217-219;
regulation of, desirable,
222, 225-226; reports of,

D

8; of promoter, 77; of
stock certificate, 78; of
underwriting, 91.
Demolins, M., 194.
Department of Trade and
Industry, committee ap-
pointed by, proposes regu-
lation of Austrian com-
binations, 252-254.
Depression of industry, at

126, 223, 259, 302-304; DEFINITION of trust,
social organization, effect
of, upon, 194-206; stock
and stockholders (see the
words); taxing power
may be used against, 226;
ultra vires, trust form of,
held to be, 112 (see com-
binations, trusts).
Corruption of legislatures
and courts by corpora-
tions, 190-194, 246.
Counsel of corporations, 283.
Courts, attitude of American

and European, toward com-
binations, 218-219, 249-
251; improper influencing
of, by corporations and
combinations, 190, 193;
proposed Austrian combi-
nation court, 252-253.
Creditors, not materially af-
fected by prevention of
bankruptcy of weaker con-
cerns, 196-197.
Credits, unwise extension of,
28-29, 198.

times results from exces-
sive competition, 199–200
(see competition, exces-
sive).

Derrick's Handbook on Pe-
troleum, prices quoted
from, 150.
Destruction of monopolistic
combinations attempted by
United States and by
many States, 217-219; of
trusts, by removal of tariff,
47, 217.
Destructive competition, 66-
67 (see competition).
Diagrams, illustrating prices

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product, 132-133, 240-
241; in case of petroleum,

ent policy of, 149 (see
whiskey trust).
Dividends, 291 (see profits).
Doscher, Claus, 143.
Duluth and Iron Range
Railroad Company, 121.
Duties, tariff (see tariff).

E

150-155; steel and wire, ECONOMIES of combi-

165-170; sugar, 133-146;
tin plate, 160-164; whis-
key, 146-150.
Dill, James B., 270.
Dingley tariff on tin plate,
164.

Directors, powers, duties, and
liabilities of, under New
York Companies' Act,
279-282, 284; relations be-
tween stockholders and,
125-129, 214, 263; re-
sponsibility of, should be
increased, 222.
Discretion, large, granted to
employees of combina-
tions, 203-206.
Discriminations, freight, 49-
55, 200, 219-220, 264
(see freights).
Dissolution of corporations,
under New York Com-
panies' Act, 304.
Distilling and Cattle Feed-
ing Company, 147, 148-
149 (see Distilling Com-
pany of America).
Distilling Company of Amer-
ica, organization and fi-
nanciering of, 92–94; form
of organization, 124; pres-

nation, disposition of,
130-131, 171-189; possi-
ble, 21-43, 153-154, 213,
229-230.

Effects of combinations, po-
litical and social, chapter
X., 190-211; upon prices,
chapter viii., 130-170, 240–
244.

Efficiency, essential object
of combination, 125; of
labor, increased under
combinations of capital,.

186.

Election of directors and

officers, under New York
Companies' Act, 280-282.
Employees, how affected by
combinations: dishonest
practices, extent to which
employees are compelled
to adopt, 207; indepen-
dent thought and judg-
ment, opportunities for,un-
der combination, 203-206;
nepotism, 201-202; sales-
men and superintendents
may be dispensed with,
24, 26-27, 182-185; steadi-
ness of employment, 186,
241; trusts and wages,

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