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Editorial
March 29, 1957
Toledo Union Journal
Toledo, Lucas County, Ohio
What is this article about?
Rep. Wright Patman (D.-Tex.) highlights asset concentration in few large banks (39%), insurance firms (90%), and utilities (79%), predicting giant corporations will dominate most businesses in 18 years; Big Business now holds 59% of corporate assets, up from 47% in 1951.
Clipping
OCR Quality
98%
Excellent
Full Text
Another Beating
REP. WRIGHT PATMAN (D.-Tex.) points out that: Fifty banks own 39 per cent of the total of bank assets; 50 life insurance companies own 90 per cent of the total of insurance assets; 50 public utilities own 79 per cent of the total of power assets.
If the present trend continues, Patman predicts that within 18 years the giant corporations (of more than $100 million in assets) will control nearly all manufacturing, distributing and service businesses.
He says that Big Business owns 59 per cent of all corporate assets, a sensational rise from 47 per cent in 1951.
REP. WRIGHT PATMAN (D.-Tex.) points out that: Fifty banks own 39 per cent of the total of bank assets; 50 life insurance companies own 90 per cent of the total of insurance assets; 50 public utilities own 79 per cent of the total of power assets.
If the present trend continues, Patman predicts that within 18 years the giant corporations (of more than $100 million in assets) will control nearly all manufacturing, distributing and service businesses.
He says that Big Business owns 59 per cent of all corporate assets, a sensational rise from 47 per cent in 1951.
What sub-type of article is it?
Economic Policy
What keywords are associated?
Corporate Concentration
Bank Assets
Insurance Assets
Power Assets
Big Business Control
What entities or persons were involved?
Rep. Wright Patman (D. Tex.)
Big Business
Banks
Life Insurance Companies
Public Utilities
Editorial Details
Primary Topic
Concentration Of Assets In Big Business
Stance / Tone
Warning About Corporate Consolidation
Key Figures
Rep. Wright Patman (D. Tex.)
Big Business
Banks
Life Insurance Companies
Public Utilities
Key Arguments
Fifty Banks Own 39 Per Cent Of Total Bank Assets
50 Life Insurance Companies Own 90 Per Cent Of Total Insurance Assets
50 Public Utilities Own 79 Per Cent Of Total Power Assets
If Present Trend Continues, Giant Corporations Will Control Nearly All Manufacturing, Distributing And Service Businesses Within 18 Years
Big Business Owns 59 Per Cent Of All Corporate Assets, Up From 47 Per Cent In 1951