COMPETITIVE CONDITIONS IN INTERNATIONAL TRADE. 105
centralized organization. The leading feature is the central selling
agency, in which the entire selling business of the syndicate is united.
Only the process of production is left to the syndicate members, and
even in this they are frequently subject to considerable control.
There are four types of central selling agencies?
A member of the combine as selling agent~—This system was
adopted by the Upper Silesian Rolling Mills in 1887, the sale of
{heir entire output being negotiated for a certain period by the
Vercinigte Konigs &amp; Laurahiitte, the largest member of the combine.
 Such an arrangement appears, as a rule, only where one
company exercises a predominant influence and reserves the selling
agency for itself.
A mercantile house or bank as selling agent.—More commonly the
selling agency is an outside firm; for instance, a large mercantile
house or bank. Thus the Silesian and west German cellulose combine
 and the German soda manufacturers’ combine made mercantile
 houses their selling agents. A large Dresden bank serves as
selling agency for the Saxon cellulose combine. The banking house
of Delbriick, Leo &amp; Co., Berlin, was in 1888 made the selling agency
of the German wire nail manufacturers’ combine.
In making collections the selling agency deducts a uniform amount
for its expenses and commission. Sometimes the function of soliciting
 and distributing orders is separate from that of collecting
payments. In the middle German salt works’ combine the collections
 are made by two association bankers. In addition, a committee
 of the members exercises control over the selling agency.
A counting house as selling agent.—Frequently the selling agency
consists simply in a counting house or office. The management may
be vested in a committee of members elected for that purpose, as in
the old potash (Kali) cartel or the Briinn brickyards, or special
officers may be employed by the combine for this purpose; e. g., in
the Silesian middle German rolling-mill combine two directors and
assistants under the supervision of the chairman of the combine.
Numerous selling agencies of this kind exist; for instance, in connection
 with the south German cellulose combine, upper Silesian and
middle German Portland cement cartels, etc.
A stock or limited-liability company as selling agent.—The selling
agency may also consist of a company, formed by the members of
the combine, and possessing the rights of a legal person according to
the Commercial Code. The company is only the organ of the combination,
 doing nothing but soliciting and distributing orders, and
serving only the purpose of giving to the selling agency the character

18, Tschierschky, op. cit, p. 46.
1 R, Liefmann, Die Unternehmerverbinde, 1897, p. 103 fol. Also, Denkschrift fiber d.
Kartellweren. 1606. p. 26.