COMPETITIVE CONDITIONS IN INTERNATIONAL TRADE. 143

Swiss silk bolting-cloth is exported chiefly to the United States, but
also to Germany, Austria-Hungary, England, Russia, and France.
The value of the exports in 1912 amounted to 4,631,000 francs
($926,000) .2
Basel is the center of the important Swiss silk-ribbon industry,
which is in keen competition with American manufacturers. In addition
 to the exports, valued at 41,500,000 francs ($8,300,000) in 1912,
about 20,000,000 francs ($4,000,000) worth of silk ribbons was produced
 by factories controlled by Swiss interests in foreign countries.
England is the chief buyer.? The Swiss silk-ribbon manufacturers
are well organized in the so-called Seidenband Konvention, which
fixes prices.
The Swiss manufacturers of spun-silk yarn are also combined in
a syndicate, which has price agreements with similar manufacturers
in Lyon, France, and in Milan, Ttaly.
. Watch industry.—In the manufacture of watches Switzerland is
one of the leading countries of the world. The total value of watches
manufactured in 1912 amounted to-183,000,000 francs ($36,600,000),
and the export of watches was valued at 173,000,000 francs ($34,600,
000).?
In 1904 the four large watch-crystal factories formed the Société
des Fabriques de Verres de Montres Réunies for the purpose of raising
 prices. This combine developed into an international cartel,
whose main office is in Strassburg.*
In 1904 the manufacturers of watchcases combined, and in 1905
the manufacturers of “ Roskopf ” watches formed a cartel combining
11 establishments. Both of these combines are price cartels.* There
is also a syndicate of manufacturers of gold watches. In 1913 Swiss
jewelry and watch manufacturers organized an association for regulating
 credits and for promoting their common interests. The main
office of the association is at La-Chaux-de-Fonds, and 150 firms are
members.®
Chocolate industry.-—The Swiss chocolate industry, especially the
manufacture of milk chocolate, has developed into a world industry
during the last 20 years. Switzerland leads the countries of the world
in its exports of chocolates, the value of which in 1912 amounted to
55,000,000 francs ($11,000,000).
In 1906, 17 of the 24 Swiss chocolate manufacturers organized the
Freie Vereinigung der Schweizerischen Schokolade Fabrikanten,

1 Handworterbuch der Schweizer. Volkswirtschaft, 1911, Vol. 3, p. 985.
27, Geering u. R. Hotz, op. cit., pp. 45, 53, 84.
sm, Geering u. R, Hotz, op. cit., pp. 45, 56 fol.
«+ Kartell-Rundschau, 1906, p. 198.
5). Steiger, Trusts und Kartelle im Ausland und in der Schweiz, Ziirich, 1907, p. 23.
8 Das Handelsmuseum, 1913, pp. 563, 586.
TP. Geering u. R. Hotz, op. cit., p. 62.