Ogden Standard-Examiner | 1924-07-23 | Page 2 | Steel Cost plus System Ordered Out

STEEL COST PLUS Pills SYSTEM ORDERED RED OUT Investigators Say Method Taxes Consumers 30 Millions a Year I July 23 The 23 The plus plus stem of nc Ins steel tel prIces price Is held I by the federal trade trad commIssion to not notI I only be b an unfair method Of ot com corn competition I petition but II a violation of ot the Clayton act In that It Is a means I of f price dIscrImination dl In an order directing the United tales Steel corporation and Its to abandon ab the tho y ylem lem prod tern tem by bl rolled steel teel prod prod- bets shipped from arlous points are ire quoted at the tho th Pittsburg base bue price plus freight ht charges charre from that city to destination the th corn com commissIon com missIon aerts that It Is a method ot CC price fixing not founded on 00 the law of supply and demand Operation of ot tho the system y tem the commission adds add tends to retard tim tho steel teel business in all centers except to lessen leMen and competition and to In- In increase In crease creaso cots Costs to consumers consumer to an amount that th t reaches A year In the th cue case ca e of ot farmers farmer In 31 11 west western rn states tate alone Tho The corporation and end Its sub sub- are ar required by the th or- or order order or order der to list the tho th transportation separate sop sep arate arab rat from the steel teel price In future fu- fu sure ture ur quotations Quotation A dissenting opinion holding that the th law does docs not requIre I absolute freedom of o competition nor enjoIn the tho nce nc of sound Mund economic principles was tiled filed by Commissioner Gaskill The cue case wu was w opened on the commission s e wason was one of o the tue most vigorously con con- contested contested con contested tested cases In Its history at- at at tOl ners tor for 32 22 western middle middle elate states and western steel consumer I er re joIning In the th fIght for tor abolition lion tion tinn ot of f the h system