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Updated: June 7, 2025
It was strongly urged years ago by the late Edward B. Whitney. Such a measure would be more effective and far-reaching than the public supposes. Nearly all the so-called trusts have been organized and are being held together in whole or in part, by the holding-company device. In many cases this has been done merely as an innocent measure of convenience.
It is needless to enlarge on the possible abuses of the holding-company device. They are coming to light more and more. The remedy, however, is not so simple as it seems at first blush. A summary abolition of the holding-company device would result in great injury and hardship to industry.
It is difficult and dangerous ground, but there is at least one measure of legal reform take away the right of one corporation to hold stock in another which might be urged with confidence were it not for the existence of sundry oppressive and conflicting state laws. The abolition by law of the holding-company device is no new suggestion.
Right here the scheme of federal incorporation brought forward during President Taft's administration has many attractions to offer. It would do away with the principal excuse for the holding-company device, and pave the way for its abolition.
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