When the Supreme Court outlawed the cement industry's basing point system* two years ago, many businessmen in other industries felt that they too were breaking the law, although they weren't sure just what the law was. The Federal Trade Commission did not clear up matters any when it told U.S. business that basing-point prices were entirely legal so long as they did not result in identical pricing that smacked of "collusion." To be on the safe side, the entire steel industry voluntarily junked its basing point system, sold steel F.O.B. the...
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