My activities for some book publishers in 1930 stopped a price war in an industry that suffered from many economic problems and indirectly initiated the famous Cheney report, to this day the economic bible of book publishing.
Startling innovations in marketing books had put them into the headlines, and the book-publishing industry was making news by itself. New book clubs, which sold books by subscription, were hurting bookstores, which had to worry about selling books at regular prices. The Book-of-the-Month Club, the Literary Guild, the Book League, the Scientific Book Club and others were making headway. Department stores were attacking the price structure by using books as loss leaders. Books designed by publishers ...