280 REPORT ON COOPERATION IN AMERICAN EXPORT TRADE,

throughout Germany and in many other parts of the world! On the
other hand, various Americans who are well informed as to the conditions
 of the electrical industry of the world state that in foreign trade
at least there seems to be little or no competition between them, but
that frequently they operate jointly. It has also been said in Germany
 that there is more or less agreement between the two and that
for several years they have not been unlimited competitors, but that
the chief staple products of the two groups have been sold on the
basis of a fixed schedule, all larger products, oversea as well as domestic,
 being handled according to mutual agreement, frequently on
sommon account.?
The tendency toward working agreements between the great companies
 when large undertakings were involved, was evident even before
 1907, and prior to the acquisition by the A. E. G. of control of
the Felten and Guilleaume-Lahmeyer interests. The contract for
sonstruction of the Hamburg City &amp; Suburban Railway was divided
among the A. E. G., the Siemens-Schuckert concern, and the Felten
and Guilleaume-Lahmeyer interests. A similar arrangement was
soncluded respecting enterprises in Valparaiso and Warsaw.?
The two groups are also said to have entered into a secret agreement
sovering bids for furnishing high-potential power in Germany.*
The two are also jointly interested in various important enterprises.
Thus they organized a joint banking enterprise, the Elektro-Treuhand
A. G., Hamburg, in 1912, with a capital of 30,000,000 marks, owned
half each by the A. E. G. and Siemens-Schuckert.® This is a credit
institution, whose object is the financing of electrical undertakings
by making loans on securities issued by electrical companies and deposited
 with the Treuhand.®
In connection with Siemens &amp; Halske of the Siemens concern, the
A. E. G. is also interested in the following factories:
Accumulatoren Fabrik A. G. in Hagen and Berlin, which has a
monopoly of the manufacture of storage batteries in Germany.
Deutsche Betriebsgesellschaft fiir Drahtlose Telegraphie G. m. b. H.,
which has a monopoly for Germany for wireless telegraphy.
German Oversea Electrical Co.
Ozongesellschaft in Berlin und Petersburg.
Vereinigte Kabelwerke in Petersburg.
GREAT BRITAIN.

The British electrical industry in foreign trade is of peculiar interost,
 first because it illustrates the influence of British foreign invest-|

 E, Noether, op. cit., p. 56. See also Pt. II, p. 48.
1 Kartell-Rundschau, 1912, p. 485 fol.
YW. Koch, Die Konzentrationsbewegung in der deutschen Elektroindustrie, 1907, p. 113.
18. Tschierschky, Kartell und Trust (Leipsic), 1911, p. 135. !
33. Singer. Das Land der Monopole: Amerika oder Deutschland?, Berlin, 1913, p. 199.
33, Riesser, op cit., p. 545 fol. Noether, op. eit., pp. 36 fol., and 58.
7E. Noether, Vertrustung u. Monopolirage in der deutschen Electricitéts-Industrie, 1913, p. 72, and Pt.
IT, p. 50.