New evidence on predatory price cutting

This paper presents new evidence on predatory price cutting as a monopolization strategy. The evidence consists primarily of what appear to be repeated expressions of predatory intent in business letters exchanged between senior officers of the old Tobacco Trust. These letters come from the trial records of United States v. American Tobacco Co., 221 US 106 (1911). Although they are not entirely free of ambiguity, the tobacco letters are remarkably candid and very interesting.