Items of Interest

The selling by manufacturers of large consignments direct to chain stores, mail order houses, and department stores at prices normally charged the wholesaler and at which the manufacturer cannot profitably sell the individual small retailer, was denounced as unfair competition, according to a committee report to the recent "Liberty Convention" of the National Wholesale Grocers' Association at Chicago. The report asserts: "The tendency to eliminate the small man is, therefore, toward monopoly, and under the present conditions this tendency will soon become an accelerated movement which will sweep thousands of American retailers to eventual ruin, at the same time injuring the jobber, who is their only practical source of supply for other than locally produced goods. It now remains to be seen whether the Government will permit a far more gigantic monopoly than any which have preceded it to be built up with ever increasing rapidity and to obtain control of the first necessity of life."

A bank, known as the Industrial and Commercial Bank (Ltd.), has been organized under the laws of Hongkong with a capital of $1,000,000 Hongkong currency. The plans of the company contemplate ultimate capitalization of as much as $50,000,000 and the establishing of branches and agencies all over China, with a view of affording Chinese commerce and industry modern banking facilities, which are lacking in interior districts at present. The enterprise is being promoted by Chinese who have had American university and commercial training. To a considerable extent the capital of the new concern has been raised by popular subscription.

A Study of Self
July 14, 1917

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