144 REPORT ON COOPERATION IN AMERICAN EXPORT TRADE.

vith an office at La Chaux-de-Fonds, for the purpose of establishing
miform selling prices.
In 1913 a cartel was formed by all Swiss chocolate factories except
he Cima, Villars, Favarger, and Croisier factories, for regulating
prices. Discounts are to be given only to dealers who buy exclusively
from the cartel? The price agreement was to run till the end of
1916. A number of Swiss firms, together with German firms,
17 in all, have formed the Cocoa Buying Co. (Ltd.) at Hamburg.
This company was organized to make the chocolate industry independent
 of speculators in raw cocoa in London, Lisbon, and Bahia by
dealing directly with the cacoa planters.® In the chocolate industry
a tendency to concentrate by fusion is noticeable. In 1911 two of the
largest factories—the Peter und Kohler A.-G. in Vevey and the F.L.
Cailler A. G. in Broc—were consolidated, their combined capital
stock being 6,500,000 francs ($1,300,000) .*
Condensed milk.—The Swiss condensed-milk industry has assumed
international proportions. In 1912 the exports amounted to 47,000,000
francs ($9,000,000).5 The two largest producers—the Anglo-Swiss
Condensed Milk Co. and the Société Anonyme Henri Nestlé in
Vevey—having together 20 factories and controlling about 90 per cent
of the total Swiss output, were combined in 1905. The new concern
has a capital stock of 40,000,000 francs ($8,000,000). Its main sales
office is in London, and the office of the administrative president in
Paris, while the general management is located in Switzerland. The
chief markets are the British and Dutch East Indies and Brazil. In
Eastern Asia American competition is encountered. Most of the
factories are now located outside of Switzerland. In 1907 the concern
bought the largest condensed-milk factory in Australia, the Cressbrook
 Dairy Co., of Brisbane, together with several other condensing
Factories and stock farms, thereby acquiring the © Cressbrook,” the
largest colonial brand.”
Machinery.—The Swiss machinery industry has been growing
rapidly in recent years. Its important bearing upon the export
trade of Switzerland may be seen from the fact that of a total
machinery production valued at 200,000,000 francs ($40,000,000) in
1912, machinery valued at 110,000,000 francs ($22,000,000). was exported®
 The firm of Sulzer Bros, Winterthur, is said to have the
most efficient export organization in the country. Machinery for
LJ. Steiger, op. cit., p. 21 fol. ; Kartell-Rundschau, 1907, p. 136. -
'Kartell-Rundschau, 1914, p. 144,
+ J. Steiger, op. cit., p. 28 fol,
} Kartell-Rundschau, 1911, p. 831.
5 T. Geering u. R. Hotz, op. cit., p. 45.
1]. Steiger. op. cit.,, p. 26. y
rp. H, Schmidt, op. cit, p. 232 fol.
sT. Geering u. R. Hotz. on. cit.. pn. 45.