Trusts of To-Day; Facts Relating to Their Promotion, Financial Management And the Attempts At State Control

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As the chief purchaser of raw sugar, the American Sugar Refining Company gets an advantage amoimting to one-sixteenth of a cent per pound in selecting its markets. The American Tin Plate Company and the American Steel Hoop Company, as large buyers of steel, get contracts at better rates than smaller buyers. As the chief refiner and owner of the main pipe-lines, the THE EVILS OF PRACTICAL MONOPOLY 83 Standard Oil Company, it has been charged, can fix the price of crude oil to the detriment of th...e producer. In competing with smaller pipe- lines the company has frequently paid premiums on oil until its rival was driven from the busi- ness, and then has bought at a reduced price.
Since 1895 the Seep Purchasing Agency, which buys for the Standard Oil Company eighty per cent, of the crude oil of Pennsylvania and Ohio, has fixed the price of petroleum in the oil regions.
But even its opponents admit that the variations in price, since 1895, have been due to the amount of output and not to the arbitrary acts of the company.


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