Harvard. Economics of Corporations. Description, enrollment, final exam. Ripley, 1912-1913

Earlier Harvard courses
on Corporations

Links to earlier course material for Economics of Corporations taught at Harvard, 1902-1903 through 1911-12.

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ECONOMICS 4^b
Course Description
1912-13

4b ²hf. (formerly 9b ²hf.). Economics of Corporations. Half-course (second half-year). Tu., Th., Sat., at 11. Professor Ripley, assisted by ——.

This course will treat of the fiscal and industrial organization of capital, especially in the corporate form. The principal topic considered will be industrial combination and the so-called trust problem. This will be broadly discussed, with comparative study of conditions in the United States and Europe. The development of corporate enterprise, promotion, and financing, accounting, liability of directors and underwriters, will be described, not in their legal but in their economic aspects; and the effects of industrial combination upon efficiency, profits, wages, prices, the development of export trade, and international competition will be considered in turn.

Source: Harvard University. Division of History, Government, and Economics, Courses of Instruction, 1912–13, p. 61.

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ECONOMICS 4^b
Course Enrollment
1912-13

Economics 4b ²hf. Professor Ripley, assisted by Mr. Crosgrave. Economics of Corporations.

Total 130: 6 Graduates, 20 Seniors, 86 Juniors, 15 Sophomores, 3 Other.

Source: Harvard University. Reports of the President and the Treasurer of Harvard College, 1912-13, p. 57.

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ECONOMICS 4^b
Year-end Examination
1912-13

Why was the dissolution of the “Tobacco Trust” more difficult than that of the Standard Oil Company? Explain fully.
Indicate certain differences in the eye of the law between monopolization and restraint of trade.
Herewith are two balance sheets of companies A and B respectively. Comment upon them, contrasting one with the other. Which apparently denotes the greater financial stability?

Co. A
Assets		Liabilities
Plant	$3,500,000	Preferred Stock	$5,000,000
Merchandise	1,800,000	Common Stock	15,000,000
Bills Receivable	700,000	Accounts Payable	600,000
Cash	1,400,000
Good-will and Patents	13,200,000
	$20,600,000		$20,600,000
Co. B
Assets		Liabilities
Factories	$15,000,000	Capital Stock	$65,000,000
Securities owned	18,000,000	Debentures	15,000,000
Merchandise	20,000,000	Surplus	3,000,001
Accounts Receivable	30,000,000
Franchises and Good-will	1
	$83,000,001		$83,000,001

Name, with briefest possible description in each case, and in order of seriousness, at least five distinct forms of unfair competition in trade.
Do all the foregoing forms of unfair competition affect the general public as well as direct competitors? Does this factor apparently influence the attitude of the courts?
What was the essence of the U. S. Steel Bond Conversion plan? What became of it?
Contrast administrative and judicial forms of controlling monopoly, pointing out the merits of each.
Outline the plan of reorganization of the National Cordage Company. Was it typical of industrial reorganizations in general?
What are the three leading objections to the so-called “holding company “?
Outline what most appeals to you as a feasible plan for dealing with the existing trust problem. State concisely in definite propositions covering all points at issue.

Source: Harvard University Examinations. Papers set for final examinations in history, history of science, government, economics, philosophy, social ethics, education, fine arts, music in Harvard College (June 1913), pp. 43-44.

Image Source: “The kind of anti-trust legislation that is needed” by J.S. Pughe. From Puck, 1902 February 5.

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