OTHER INDUSTRIES 11 



the two railroad companies are government grants, and 80 

 per cent of the Weyerhaeuser Timber Company holding was 

 bought from the Northern Pacific grant. By an interweaving of 

 interest, corporate and personal, and by interlocking directorates, 

 there is a further real concentration of control of a great many 

 large holdings which on the surface appear to be separate holdings. 



With the concentration in timber is also the concentration in 

 the land which remains after the timber has been cut. In Florida 

 182 large timber holders have over 16,990,000 acres, nearly one-half 

 the land area of the state. In the area investigated by the Bureau 

 of Corporations, the large timber holders had 89,744,000 acres an 

 area greater than the ten northeastern states, Maine, New 

 Hampshire, Vermont, Massachusetts, Rhode Island, Connecticut, 

 New York, New Jersey, Delaware, and Maryland. 



To this concentration in timber and land must be added a 

 closely connected railroad domination. "Still more impressive," 

 continues the report, "are the possibilities for the future. In the 

 last forty years concentration has so proceeded that one hundred 

 and ninety-five holders, many interrelated, now have practically 

 one-half of the privately owned timber in the investigation area 

 (which contains 80 per cent of the whole). This formidable 

 process of concentration, in timber and in land, certainly involves 

 grave future possibilities of impregnable monopolistic conditions, 

 whose far-reaching consequences to society it is now difficult to 

 anticipate fully or to overestimate. Such are the past history, 

 present status, and apparent future of our timber resources. The 

 underlying cause is our public land policy, resulting in enormous 

 loss of wealth to the public and its monopolization by a few inter- 

 ests. It lies before us now as a forcible object lesson for the future 

 management of all the natural resources still remaining in the 

 hands of the Government." 



Other Industries. Turning now to other industries, we find 

 similar tendencies at work. The concentration of control of a 

 large portion of our banking, railroad, and manufacturing indus- 

 tries in the hands of a few men of one hundred and eighty men 

 in fact was shown by the Federal money trust investigation in 

 1912 and 1913. This small group of one hundred and eighty men, 

 by a system of interlocking directorates, were shown to be repre- 

 sented in the directorships of corporations having total resources 

 or capitalization of $25,325,000,000. They held, to specify more 

 in detail, three hundred and eighty-five directorships in forty-five 

 banks and trust companies having total resources and deposits of 



