ABSTRACT
the first effect of the combine was to end the competition in price between the firms. This inevitably caused difficulties and made the combine unpopular; customers not unnaturally resented the fact that they could no longer obtain special treatment. The policy of restricting competition was begun prior to the actual floatation of the company. In the prospectus it was stated that ‘an agreement had been entered into with George E. Wragge, on behalf of the principal London Cement merchants which provides, inter alia, for all merchants joining them taking their whole requirements of cement from this association for a term of seven years’. 45
