Assistant Professor Bruce Wyman’s course on industrial relations and commercial law was offered as a vocational sop to Harvard economics majors that along with William Morse Cole’s principles of accounting course was intended to help prepare a young Harvard graduate planning to enter a career in business. This could help account for the popularity of the course as seen in its relatively high enrollment — that and its reputation of being something of a “snap course”.
________________________
From earlier years
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.
________________________
Course Enrollment
Economics 21. Asst. Professor Wyman, assisted by Messrs. Field and Otis. — Principles of Law governing Industrial Relations and Commercial Law.
Total 93: 3 Graduates, 56 Seniors, 21 Juniors, 10 Sophomores, 3 Others.
Source: Harvard University. Report of the President of Harvard College, 1907-1908, p. 67.
________________________
ECONOMICS 21
Mid-year Examination, 1907-08
(First give your answers clearly, then give your reasons briefly.)
- (a) White buys 10 gross of Mellin’s Food from the proprietors and pastes over the label on each bottle a large label reading “White’s Food—Better than Mellin’s—Higher in Price—But Double in Nutriment—White Mfgr.” Can Mellin stop White from doing this? (b) Could Mellin stop White from doing this if he could prove that White’s statements were false?
- (a) Ely buys prints of the Passaic works and with the undisclosed intention of offering them for sale later at 1 cent per yard less than the usual retail price, 8 cents. Can this be stopped; (b) Could it be if Ely had agreed not to sell them at less than the usual price, 8 cents, when he bought them?
- (a) The foreman of a street railway threatens to discharge employees who trade at a certain grocery. Can the grocer sue him? (b) Suppose the foreman were a partner in a rival grocery, would he have been liable?
- (a) A suburban street railway agrees with a city street railway that the first shall not extend its lines into the city and the second shall not extend its lines into the country. Can the city line be stopped by it from building into the country? (b) After it has done so, can it stop the country line from building into the city?
- (a) A combination of oil refiners agree to lower prices wherever competition appears, the one that loses money thereby to be made whole by the others pro rata. An outsider who is ruined by this policy sues a member of the association — what result? (b) The member of the association who lost money in the process sues the other members for contribution — what result?
- (a) A labor union in a building trade strikes in sympathy with a teamster’s union. Can it boycott butchers who sell to nonunion men who remain at work on the building? (b) Can it put a single man on the street corner nearest the work to persuade men from taking the places of the union men?
- (a) A & Co. is a partnership composed of A, B, and C; the fact that C is a partner being unknown to the public. The firm buys goods of X, who later learns of the position of C and sues him to the whole price — what result? (b) Suppose C was not a partner but had told Y that he was and X had learned of this later, could X sue C now?
- (a) A ownes 99% of the stock the B railroad company. X claims that he shipped some goods by this railroad which were lost in transit; the only evidence X has is an admission by A that the company is liable. What chance has X against the corporation? (b) Suppose A had promised to pay X $1000 in settlement, what chance would X then have against the corporation?
- (a) A corporation is formed by X, Y, and Z with a capital stock of $30,000, each taking $10,000, X paying $10,000 cash for his, Y $7,500, and Z $2,500. The corporation later sells $30,000 debenture bonds to L, who pledges them to M for a loan of $20,000. Later the corporation fails after a disasterous season having left goods worth $14,000. How does M come out? (b) How does Z come out?
- A is employing X as his salesman by the calendar year. In the middle of the year, B induces X by offer of a higher salary to quit and enter his employ at once. Can A sue B for damages? (b) Can X sue B for his salary when it comes due?
Source: Harvard University Archives. Harvard University. Mid-year Examinations, 1852-1943. Box 8, Bound Volume: Examination Papers, Mid-Years 1907-08.
________________________
ECONOMICS 21
Year-end Examination, 1907-08
First give your answers briefly; then give your reasons concisely.
- A, director in a steamship company, who owns 25% of its stock, buys two steamboats for $100,000 each. He offers them to his company for $130,000 each. The directors vote to purchase one, A’s vote not being necessary to carry it, and vote to leave the question of the purchase of the other to the stockholders’ meeting. The stockholders vote to purchase the other, A’s vote being necessary to pass it. A few years later a hostile management gets control, and asks counsel what the rights of the company against A are. What should he answer?
- A & Co. join a combination of beef packers who agree not to bid against one another in the cattle market, but arrange distribution among themselves in advance. (1) A & Co. on one occasion do bid against another member contrary to a previous deal. Can they be sued? (2) The cattle raiser refuses to deliver the cattle. Can they sue him? (3) They sell dressed beef to a butcher, delivering part. Can he refuse to pay? (4) They refuse to deliver the remainder. Can the butcher sue them?
- The N.Y., N.H. & H.R.R., operating in Conn., R.I., and Mass., acquires say 66 2/3% interest in the stocks of various trolley lines operating in the same states. It also acquires say 33 1/3% interest in the stock of the B. & M.R.R. operating in Mass., N.H., Vt., and Me. Is all this a violation of the Federal Anti-Trust Law? Take one side or the other of the question.
- A National Steel Company (1) buys 40% of the steel plants in the United States outright, (2) buys the controlling interest in the stocks of 30% more, (3) makes agreements with 20% more for division of business, (4) refuses to deal with customers who deal with the others. What danger is it in supposing there is no anti-trust statute?
- A lease for twenty years is made by one railroad corporation to another. The lease is ultra vires on the part of both corporations. What rights or remedies has either corporation against the other in case of a repudiation of the lease by either at the end of five years, rent having been paid for only four years?
- Can a street railway corporation resist as unconstitutional legislation which so reduces fares as to leave it such gross receipts as, after providing for operation and repair, maintenance and re-placement, will leave only an average of 2% upon the securities representing the cost of the enterprise and nothing for depreciation or sinking fund, surplus account or amortization of franchise?
- A railroad company buys coal of various operators along its route which it transports to market and sells there. An independent operator shows that at times of press of business the railroad uses part of its cars in its own coal shipments; to which the railroad company replies that it gives him his proportion of cars. This operator also shows that the railroad will buy coal at $3.00 per ton, transport it to market and sell it at $3.75, while he shipping from the same station has to pay the published rate of $1.25 per ton; to which the railroad company replies by saying that they make themselves a trainload rate of 75 cents per ton which they are willing to give him. Must he be content with these answers?
- A railroad line having become blocked by an accident six trains were stopped at the city of T, in the following order: (1) a passenger train, (2) a circus train, (3) a train of coal cars, (4) a refrigerator train filled with dressed beef, (5) a trainload of peaches in closed cars, (6) a trainload of lumber on flat ears. In what order should these trains be despatched?
- Can a gas company make special rates (1) to its directors, or (2) to hotelkeepers, or (3) to induce a storekeeper to give up the use of electricity, or (4) to customers who buy their fixtures of its contract department?
- Can a street railway eject a passenger who (1) has been convicted for picking pockets, or (2) has refused to pay fare the day before, or (3) has a wrong transfer which was given him carelessly by a former conductor, or (4) tenders a ten dollar bill which the conductor cannot change?
Source: Harvard University Archives. Harvard University, Examination Papers, 1873-1915. Box 8, Bound vol. Examination Papers 1908-09 (HUC 7000.25), pp. 44-46.
Image Source: Harvard Law School ca. 1901 from the Detroit Publishing Company photograph collection (Library of Congress).