40 REPORT ON COOPERATION IN AMERICAN EXPORT TRADE.

the members. The principal agency had charge of the general
sales and purchases, and was conducted by two managers. Selling
agencies were established in Blaubeuren, Heidelberg, with a branch at
Frankfort on the Main, Metz, Munich, Stuttgart, and Wiirzburg.
These agencies made sales, but always under the direction of the principal
 agency. The company managed its business on its own account
 and under its own name. It had to pay to the various works
for cement furnished whatever it was able to pay. All works sold
k o. b. the place of shipment and the price was fixed accordingly.
or poor goods the works had to make good the company’s damage.
A monthly price list was established. The company furnished
weekly reports concerning market conditions and monthly information
 and accounts concerning total shipments. The total profits of
the companies were distributed prearding to the works participating
in the organization. Each member had for every 1,000 barrels whic
it furnished to the total contingent of the company 100 marks of
capital stock. Retail sales can be made by the factories themselves,
yet they must give the total amount made in this way monthly to
the association. A voluntary transfer of order to other members
of the company can take place with the agreement of the board of
directors. At the close of the year differences are equalized by
money payments. The board of directors is composed of seven members,
 and is charged to watch over the general management of the
business. The general meeting of the company decides upon the
fixed prices, suggested by the board of directors, and decides upon
agreements with other unions and the principal points concerning
the establishment of branch selling agencies. In general the functions
 of the board of directors and the general meeting of members
are regulated by the legal form of the union, which is a general liability
 company. If a factory goes into the hands of another person
the new possesor must also be a member of the company. Damuges
on account of punishments are to be paid to the cashier of the
sompany. } .
The Rhenish-Westphalian Cement Syndicate (Rheinisch-Westfilisches
 Cement Syndikat) was organized in 1904 on a similar basis
to the South German Union. It also took the form of a limited liability
 company (G. m. b. H.). Its purposes were in general the
same. The business was conducted through one or more managers,
a board of directors, and the company’s meetings. The company purchased
 the products in its own name and paid for the cement a prearranged
 price, which was the same for all works. The profits of the
company were divided according to the participation of the various
works. To every 2,000 barrels of cement furnished to the total contingent,
 a company would receive 100 marks capital. Retail sales
were regulated in the same way as in South Germany. The board of
directors were composed of 9 to 15 members. Their powers and
duties as well as those of the general meeting were approximately the
same as in the case of the South German Company.
The Hanoverian Selling Association, which was established in the
Lg 1905, resembles the Silesian organization more than any other.
t is also a free association, composed and managed by a selling
agency, the president of the association, two aH members,
each having an assistant, and a general meeting. The selling regulations
 are the same as those of AN Silesian Union with the exception