Law professor Bruce Wyman offered a regular course covering aspects of business law that together with William M. Cole’s Principles of Accounting helped to serve the demand of many students for some vocational training to help prepare themselves for life after Harvard.
Bruce Wyman resigned his professorship of law in December 1913 when it came out that he was drawing $833 per month from the New Haven and the Boston & Maine (railroads)…
“…for delivering lectures favorable to the roads without the fact being known that he was a paid employe. He admitted that, while employed as their consulting counsel he helped Gov. Foss to frame the Public Utilities bill, which was designed to give the State better control of the railroad situation.”
Source: New York Times, December 21, 1913, p. 30.
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Business Law for Economics Students
pre-1911/12
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Course Description
1911-12
*211hf. The Law of Competition and Combination. Half-course (first half-year). Mon., Wed., Fri., at 12. Professor Wyman, assisted by Mr. —— . (V)
Course 21 is not open to students before their last year of undergraduate work, and is only open to those who have passed in Economics 1.
The course considers certain rules of the law governing the course of modern trade and the organization of modern industry. As the course deals with adjudication and legislation on questions of first importance in the economic development of modern times, it is of advantage to all those who wish to equip themselves for the intelligent discussion of issues having both legal and economic aspects. In 1911-12 four principal topics will be discussed: competition; combination; association; consolidation, — some very briefly, some with more detail. The conduct of the course will be by the reading and discussion of cases from the law reports, which are contained in an edited series of case books.
Source: Division of History, Government, and Economics: 1911-12 (1st ed.). Official Register of Harvard University, Vol. VIII, No. 23 (June 15, 1911), p. 67.
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Course Enrollment
1911-12
Economics 21 1hf. Professor Wyman, assisted by Messrs. Hughes and [R. M.] Johnson. — The Law of Competition and Combination.
Total 156: 3 Graduates, 107 Seniors, 44 Juniors, 2 Others.
Source: Harvard University. Report of the President of Harvard College, 1911-1912, p. 64.
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ECONOMICS 21¹
Mid-year Examination, 1911-12
Give your reasons fully but briefly.
- The X oil company, selling oil at wholesale to grocers in a certain state, finds that the Y oil company is getting away part of its customers. The X company thereupon sends out retail wagons, selling oil at a 33⅓% discount, letting the grocers know that this retailing at this price will be continued so long as the grocers buy from the Y company. The grocers soon withdraw their patronage from the Y company, which thereupon sues the X company. What result?
- The union employes in a certain mill vote a strike, ostensibly for higher wages, but in reality to get the non-union men thrown out of employment by the closing of the mills. As soon as the mills shut down, they offer to pay the expenses of the non-union men to other towns where they can get work. The employers take the union men back as a body at higher wages. Afterwards learning of the facts, they sue the officers of the unions for damages. What result?
- There is a water company in a certain city which refuses to sell its works to the city at the price offered. Thereupon the city installs a sewerage system and a water works of its own, charging $10 a year for sewerage service to all persons except those who take water from the city works, such takers not being charged anything for sewerage service. Has the water company any legal complaint?
- A wall paper jobber having on hand a lot of wall paper which he has bought from the Wall Paper Trust under the agreement that he will not sell it below certain prices, a rival of the wall paper trust offers him better prices for its own goods if he will throw the trust paper on the market below the price restriction and thereby make other jobbers throughout the country uneasy. Can the Wall Paper Trust sue its rival for damages?
- All the shop-keepers but one in a certain village sign an agreement that they will no longer give trading stamps to their customers and that they will not sell any goods to any person who buys of the shop-keeper who has refused to sign. One of the signers announces the next day that he is going to give trading stamps again. Can he be enjoined?
- An association of dealers in plumbers supplies makes a list of those who owe any member, which is regularly circulated among the members. A certain plumber, who has not paid one of his bills because of a dispute as to its accuracy, finds that he cannot get any more supplies on credit. What remedy has he?
- A corporation in which X owns all the stock is owed $5000 by A, due January 1, 1912. X owes A $5000 due on the same day. X wants to know whether if A sues him he (X) can set off what he (A) owes the corporation.
- A corporation organized to make padlocks buys on credit, at a certain price, some brass which, unknown to the seller, it intends to make into candle sticks. What can the seller sue it for?
- A corporation, 51% of the stock in which is held by the Sugar Trust, sells sugar on credit to jobbers with the proviso that no sugar shall be sold by them to retailers who handle a rival brand. What can the trust sue the jobbers for?
- A corporation having control of 60% of the match business contracts with the owners of 51% of the shares of a rival match company for the purchase of its property at a certain number of its shares or a fair cash option to the dissenting holders. Can it get specific performance of this contract?
Source: Harvard University Archives. Harvard University — Examination papers, 1873-1915. Box 6. Bound volume, Examination Papers, 1912. Harvard University Examinations. Papers Set For Examinations in History, History of Science, Government, Economics […], pp. 63-64.
Earlier Law Courses taught at the Harvard Economics Department
1901-02. Autobiographical note, enrollment, course description, syllabus, exams.
1902-03. Obituary, enrollment, course description, exams.
1903-04. Enrollment and exams.
1904-05. Enrollment, course description, exams.
1905-06. Enrollment, paper assignments, exams.
1906-07. Enrollment, paper topics, exams.
1908-09. Enrollment and exams.
1909-10. Enrollment and exam.
1910. About Wyman’s reputation as a soft-grader (a “snapper problem”) and the scandal that led to the resignation of his Harvard law professorship in 1913.
1910-11. Description, enrollment and exam.
Image Source: Professor of Law Bruce Wyman. The Harvard Classbook 1913.