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Antitrust Keyed to Areeda, 8th Ed.
Federal Trade Commission v. Cement Institute
Citation:
333 U.S. 683 (1948)Facts
The FTC filed a complaint against the Cement Institute, its 74 corporate members, and 21 individuals, alleging they had restrained competition in cement sales through a combination to employ a multiple basing point pricing system. This system resulted in identical prices and terms of sale throughout the United States, with cement buyers unable to purchase cement at lower prices from any manufacturer. The evidence, comprising approximately 49,000 pages of testimony and 50,000 pages of exhibits gathered over three years, showed that cement producers had maintained this system for many years. Under this system, cement was sold at delivered prices calculated by adding freight costs from the nearest basing point to the delivery location, regardless of where the cement was actually shipped from. This resulted in “phantom freight” when producers were closer to customers than the basing point, and “freight absorption” when they were farther away. The Commission found that respondents had engaged in numerous concerted activities to maintain this system, including boycotts, punishing price-cutters, and opposing new cement plants. The system resulted in identical sealed bids to government agencies down to fractional pennies.
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