162 WILLIAM R. MERRIAM 



nomer. The above definition is not perhaps broad enough, 

 as it does not recognize a class of corporations known as "hold- 

 ing concerns," which are organized for the purpose of acquir- 

 ing the stock of other corporations, and do not directly operate 

 plants. Several such corporations are, however, included in 

 the data referred to later on. It may be said in passing that 

 there are a considerable number of independent organizations, 

 created for the purpose of selling goods at uniform prices, of 

 which no cognizance has been taken in this article. 



So far as can be ascertained from the data in the census 

 office, the number of these industrial consolidations is 183. 

 They control 2,203 separate plants, scattered throughout the 

 United States, 2,029 being active and 174 idle during the 

 census year. For 56 of the idle plants no returns could be 

 obtained, making the total number of reporting plants 2,147. 

 The 183 combinations extend to almost all lines of industry, 

 producing articles of luxury, materials essential to the up- 

 building and growth of the country, and even the very neces- 

 sities of life. Fully 50 per cent of these combinations were 

 chartered just prior to or during the census year; and it is 

 noteworthy that the epidemic of industrial consolidation, as 

 far as the so-called monopolies are concerned, has been practi- 

 cally confined to the past seven years. It is evident, there- 

 fore, that the disease — if it be regarded as such — has spread 

 very rapidly. 



Naturally enough, iron and steel, with 69 combinations, 

 heads the list. The number of reporting plants engaged in 

 this industry is 469, and the capital invested, consisting of 

 land, buildings, machinery, tools and implements, and cash 

 and sundries, is valued at $348,000,000. Since the census 

 reports were received last year, there has been a reorganiza- 

 tion of certain corporations engaged in the manufacture of 

 iron and steel products, by which a number of them have been 

 merged into the United States Steel corporation. The stock 

 and bonds issued by the constituent combinations up to the 

 time of reorganization are shown below, together with a state- 

 ment of the securities issued by the United States Steel cor- 

 poration : 



