The Billion Dollar Trust.
It is not generally realised that the. Unit* ed States Steel Corporation of Mr Picrpont Morgan, familiarly termed the Billion Dollar Trust, because of its capital of 1,018,----000,000 dollars (an American billion isi one thousand millions, not one million millions) is a combination iiot merely of individual companies, bub of ten enormous trusts, each of wliicr incorporated many great undertakings. What, then, does the Billion Dollar Trust control with its capital'of £200,000,000? Here is a list of the concerns : —
Carnegie Company, owning 13 undertakings. Federal Steel Company, owning 6 undertakings. ~ National Steel Company., owning 17 undertakings. American Steel and Wire Company, owniivr 30 undertakings. ; American Tin Plate Company, owning 28 undertakings. American Steel Hxfop. Company, owning 13 undertakings1.
American Sheet Steel' Company, owning 22 undertakings. American Bridge Company, owning 25 undertaking*. t^uelby Steel Company, owning.B takingsMr Morgan's great trust, therefore', combines 177 different concerns, all of the first rank. In 1901 it produced, nine million tons of steel ingots, which, while it was 80 per cent, more than the country produced in even its best year, amounted to 67 per cent, of the entire U.S. production.
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Bibliographic details
Wanganui Chronicle, Volume XXXXVII, Issue 11713, 18 August 1902, Page 4
Word Count
190The Billion Dollar Trust. Wanganui Chronicle, Volume XXXXVII, Issue 11713, 18 August 1902, Page 4
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