Number and summary of exhibits 32. Chart: Index of freight-car loadings for year 1919 to 1938. 35. Chart: Employment and pay rolls-durable goods for 36. Chart: Employment and pay rolls-nondurable goods for 39. Chart: Employment and pay rolls-cement for years 1923 40. Chart: Employment and pay rolls-cotton goods for years 1923 to 1938. Supported by statistical data on p. 220 in appendix... 41. Chart: Employment and pay rolls-cigars and cigarettes for years 1923 to 1938. Supported by statistical data on p. 220 in appendix.......... 42. Chart: Employment and pay rolls-woolen and worsted goods for years 1923 to 1938. Supported by statistical data on p. 221 in appendix_ 43. Chart: Employment and average weekly hours in manu- 44. Chart: Average weekly earnings, average hours worked per 48. Chart: Estimated number of unemployed by sex and age. T Number and summary of exhibits Introduced at page Appears on page 51. Chart: Persons employed by Federal Government and on 53. Chart: Length of survival of business concerns of Pough- 54. Chart: Number of corporations and partnerships for years 1909 to 1936. Supported by statistical data on p. 228 in appendix.. 55. Chart: Importance of corporate activity by branches of industry for year 1937. 56. Chart: Distribution of employees and employers by size 57. Chart: Size of corporations by assets in 1935-no consoli- 61. Chart: The glass industry and its subdivisions for 1936. 65. Chart: Portland cement production for nine mills for June 66. Chart: Coke production for nine plants for June of each year from 1925 to 1938. Supported by statistical data on p. 233 in appendix... 67. Chart: Flour production for nine mills for June of each year from 1927 to 1938. Supported by statistical data on p. 234 in appendix.. 68. Chart: Employment for fifteen plants in the rubber tire and tube industry for June of each year from 1923 to 1936. Supported by statistical data on p. 234 in appendix.. 69. From the National Recovery Administration, report of the President's Committee of Industrial Analysis, Feb. 17, 1937, pages 204 and 205 70. Chart: Comparison of leading manufacturing industries for years 1899 and 1929_. 71. Chart: Independent retail-store population for years 1915 and 1935 from 32 county-seat towns. Supported by statistical data on p. 235 in appendix... 72. Chart: Seasonality of industrial operations for nine industries over a period of twelve months. Supported by statistical data on p. 236 in appendix. 73. Summary of analysis of trade-practice provisions in N. R. A. Codes.. 74. Chart: Importance of chain-store sales as shown by cer- 76. Chart: Production of fuels for years 1870-1937. Supported 78. Duplicate of Exhibit No. 29. Chart: Textile fiber con- 79. Chart: Percentage distribution, by types of employment of gainfully occupied persons 16 years of age and over. Supported by statistical data on p. 243 in appendix... 80. Chart: National income produced 1919-37, by economic divisions. Supported by statistical data on p. 243 in appendix.. 81. Chart: National income produced 1919-37, by commodityproducing division. Supported by statistical data on p. 244 in appendix__. 82. Chart: National income produced 1919-37-commodityhandling division. Supported by statistical data on p. 244 in appendix... 83. Chart: National income produced 1919-37-service divisions. Supported by statistical data on p. 245 in appendix. 84. Chart: Sources of national income for years 1919-21 and 1935-37... 85. Chart: Applications filed and patents issued for years 18361937. Supported by statistical data on p. 245 in appendix.. 86. Duplicate of Exhibit No. 18. Chart: Output of nondurable, as compared with durable commodities, for years 1879-1933. Supported by statistical data on p. 246 in appendix....... 87. Chart: Production of durable and nondurable manufactured products for years 1929 to 1938. Supported by statistical data on p. 247 in appendix....... 88. Chart: United States foreign trade in merchandise for years 1919 to 1937. Supported by statistical data on p. 248 in appendix....... 89. Chart: Wholesale prices-all commodities for years 1801 to 1937. Supported by statistical data on p. 249 in appendix. Number and summary of exhibits Unnumbered. Statement of Leon Henderson in reference to preparation of his estimates of unemployment-including excerpts from the Conference Bulletin of the National Industrial Conference Board, July 30, 1938_ Unnumbered. Tabulation: Persons 10 years of age and over, Unnumbered. Tabulation: Estimated number of persons in the INVESTIGATION OF CONCENTRATION OF ECONOMIC POWER THURSDAY, DECEMBER 1, 1938 UNITED STATES SENATE, TEMPORARY NATIONAL ECONOMIC COMMITTEE, Washington, D. C. The Temporary National Economic Committee met, pursuant to call, at 10:30 a. m., in the caucus room of the Senate Office Building, Senator Joseph C. O'Mahoney, presiding. Present: Senators O'Mahoney (chairman), King, Borah, Representatives Sumners, Reece, Eicher; Messrs. Lubin, Hinrichs, Douglas, Frank, Patterson, Árnold, Berge, Ferguson, Davis, Oliphant, Peoples, Henderson. Present also: Directors of studies, Dr. Willard Thorp, Commerce; Mr. Hugh B. Cox, Justice; Mr. Willis J. Ballinger, Federal Trade Commission; Mr. Thomas C. Blaisdell, Securities and Exchange Commission; Mr. J. J. O'Connell, Treasury; Miss Aryness Joy, Labor. STATEMENT BY SENATOR O'MAHONEY The CHAIRMAN. I will call the meeting to order. At the beginning of this, the first public session of the Temporary National Economic Committee, which was formally established by resolution of Congress, approved June 16, 1938, it is appropriate that there should be incorporated in the record, first, the message of the President recommending the study which is now in progress, and second, the text of the resolution itself. I offer these documents so that there may be, at the outset, a clear understanding of the nature and the function of this committee as well as of the purpose for which it was called into existence. (The documents referred to were marked "Exhibits Nos. 1 and 2" and are included in the appendix on pp. 185 and 192.) The CHAIRMAN. The President, in his message, declared that— Generally over the field of industry and finance we must revive and strengthen competition if we wish to preserve and make workable our traditional system of free private enterprise. To accomplish this purpose, the President, in his message, recommended first, an increased appropriation to enable the Department of Justice to enforce more effectively existing antitrust laws; and, second, a comprehensive study of concentration in industry, of industrial price policies and of existing Government policies, and their effect upon trade and commerce. With the first of these recommendations-the better enforcement of existing antitrust laws-this committee has nothing to do. Law |