WEALTH IN U.S.A.
CONCENTRATED IN HANDS OF CORPORATIONS. MR. O’MAHONEY’S SURVEY. (By Telegraph—Press Association—Copyright) (Received This Day, 9.40 a.m.) WASHINGTON, March 12. A further clarification of the statement of Mr. O’Mahoney (chairman of the Federal Monopoly Committee) stressed the enormous importance of over concentration of wealth in the hands of a few vast corporations. Mr. O’Mahoney said the country had passed completely from individual to corporate economy, characterised by an amazing concentration.of corporate ownership of wealth and dividend distribution. Not only do the corporations own the great bulk of industrial and commercial assets and income, but within the corporate structure itself concentrations are progressing. Commerce Department statistics and testimony proved that only ten States have assessed valuations greater than the total assets of the Metropolitan Life Insurance Company and the American Telephone and Telegraph Company.
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Wairarapa Times-Age, 13 March 1941, Page 5
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135WEALTH IN U.S.A. Wairarapa Times-Age, 13 March 1941, Page 5
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