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OF ECONOMIC POWER

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TEMPORARY NATIONAL ECONOMIC COMMITTEE
CONGRESS OF THE UNITED STATES

SEVENTY-SIXTH CONGRESS

FIRST SESSION

PURSUANT TO

Public Resolution No. 113
(Seventy-fifth Congress)

AUTHORIZING AND DIRECTING A SELECT COMMITTEE TO
MAKE A FULL AND COMPLETE STUDY AND INVESTIGA-
TION WITH RESPECT TO THE CONCENTRATION OF
ECONOMIC POWER IN, AND FINANCIAL CONTROL
OVER, PRODUCTION AND DISTRIBUTION
OF GOODS AND SERVICES

PART 5

MONOPOLISTIC PRACTICES IN INDUSTRIES

DEVELOPMENT OF THE BERYLLIUM INDUSTRY

FEBRUARY 28, MARCH 1, 2, 3, 6, 7, 8, AND 14, MAY 8 AND 9, 1939

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Printed for the use of the Temporary National Economic Committee

124491

UNITED STATES

GOVERNMENT PRINTING OFFICE

WASHINGTON: 1939

77

Y/F39

48 265

E20 938

•Alternates.

II

TEMPORARY NATIONAL ECONOMIC COMMITTEE
(Created pursuant to Public Res. 113, 75th Cong.)

JOSEPH C. O'MAHONEY, Senator from Wyoming, Chairman
HATTON W. SUMNERS, Representative from Texas, Vice Chairman
WILLIAM H. KING, Senator from Utah
WILLIAM E. BORAH, Senator from Idaho

B. CARROLL REECE, Representative from Tennessee
CLYDE WILLIAMS, Representative from Missouri
THURMAN W. ARNOLD, Assistant Attorney General
*WENDELL BERGE, Special Assistant to the Attorney General
Representing the Department of Justice

WILLIAM O. DOUGLAS, Chairman

*JEROME N. FRANK, Commissioner

Representing the Securities and Exchange Commission
GARLAND S. FERGUSON, Commissioner
*EWIN L. DAVIS, Commissioner
Representing the Federal Trade Commission

ISADOR LUBIN, Commissioner of Labor Statistics
A. FORD HINRICHS, Chief Economist, Bureau of Labor Statistics
Representing the Department of Labor

JOSEPH J. O'CONNELL, JR., Special Assistant to the General Counsel
*CHRISTIAN JOY PEOPLES, Director of Procurement
Representing the Department of the Treasury

RICHARD C. PATTERSON, JR., Assistant Secretary
Representing the Department of Commerce
LEON HENDERSON, Executive Secretary

MAR 21 1941

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CONTENTS

Page

1820-1821

Burr, Eugene W., attorney, Federal Trade Commission, Washington,
D. C....
1860-1903, 1947-1950
Chantland, William T., attorney, Federal Trade Commission, Wash-
ington, D. C...
1828-1847, 1852-1859, 1983-1984
Coe, John A. Jr., general sales manager, The American Brass Com-
pany, Waterbury, Connecticut_
2091-2101,
2103-2110, 2114-2126, 2128, 2130, 2132-2135
Dawkins, Robert B., member of chief examiner's staff, Federal Trade
Commission, Washington, D. C.
England, William H., assistant chief economist, Federal Trade Com-
mission, Washington, D. C.
1816-1825, 1827-1828
Fetter, Frank A., retired professor of economics, Princeton, New Jer-
1657-1680, 1903-1946, 1951-1982
Flynn, John T., economist, New York City...
1680-1713
Gahagan, Andrew J., president, The Beryllium Corporation, New York
City-
2012-2025, 2037-2059, 2147-2163
Hensel, Frank Robert, chief metallurgist, P. R. Mallory Company,
Indianapolis, Indiana_.

2059-2067

Hirschland, F. H., president, Metal & Thermit Corporation, New York
City

2026-2037 Judd, Clark S., vice president in charge of manufacturing, The American Brass Company, Waterbury, Connecticut.. 2093-2094, 2102, 2117-2124, 2126-2132, 2135 Kelley, William T., chief counsel, Federal Trade Commission, Washington, D. C.... 1770-1788, 1793, 1807-1815 Kertess, Ferdinand A., correspondent, Deutsche Gold-und-Silber Scheideanstalt, New York City...

2068-2077

1999-2000

Lundvall, Arthur E., economist and accountant, Federal Trade Com-
mission, Baltimore, Maryland..
Montague, H. T., purchasing agent, The American Brass Company,
Waterbury, Connecticut..

2092-2093,
2101-2105, 2110-2113, 2121-2124, 2127
Montgomery, R. H., professor of economics, University of Texas,
Austin, Texas..
1984-1998, 2000-2009

Morehouse, Pgad B., director of Radio and Periodical Division, Fed-
eral Trade Commission, Washington, D. C... 1770-1788, 1793, 1807-1815
Randall, H. L., president, The Riverside Metal Company, Riverside,
New Jersey-
2084-2091, 2098-2101, 2104-2106, 2114
Sawyer, Charles Baldwin, president, The Brush Beryllium Company,
Cleveland, Ohio...
2079-2083, 2135-2147
Sheehy, Joseph, assistant chief examiner, Federal Trade Commission,
Washington, D. C....

1795-1796

Walker, Francis, chief economist, Federal Trade Commission, Wash-
ington, D. C....

Statement of

Ballinger, Willis J., director of studies and economic advisor to the
Federal Trade Commission, Washington, D. C...

Davis, Ewin L., member of the Committee, and Commissioner, Federal
Trade Commission, Washington, D. C..

Monopolistic practices in industries:

Presentation of Federal Trade Commission Study..
History of monopoly.

Meaning and applications of competition..

Tendency toward monopolistic control of industry.

Relation between monopoly and depression...
Simplification of corporation set-up proposed.

1797-1804

1650-1656, 1857

1647-1649

1650

1657

1660

1667

1671

1677

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