HOME   SOCIAL CRITICISM LIBRARY   TABLE OF CONTENTS

APPENDIX B

COMPANIES WITH LARGEST TOTAL ASSETS

        TNEC                         Fortune*                Dominant
       (1937)                          1964                   Family
                                                       Groups--Fortune List
                                                      (by TNEC and SEC source)

*Fortune publishes these rankings in July and August of each year. These company names were taken from the 1965 issues reporting on 1964 performances under the categories of industrial, public utility, transportation and merchandising companies.
** Railroads and other types of public utility companies are generally dominated by small coalitions of several families, directly or through banks or other financial instrumentalities. This holds as well for many industrial companies.

 1. American Telephone        1. American Telephone             **
   & Telegraph                     & Telegraph
 2. Standard Oil              2. Standard Oil (New           Rockefeller
   (New Jersey)                  Jersey)
 3. Pennsylvania RR           3. General Motors              Du Pont
 4. U.S. Steel                4. Ford Motor                  Ford
 5. Southern Pacific RR       5. U.S. Steel                  Phipps, Haldane et al.
 6. N.Y. Central RR           6. Texaco                      Hill, Gates, Lapham
                                                                 et al.
 7. Consolidated Edison       7. Socony Mobil Oil            Rockefeller
   (N.Y.
 8. General Motors            8. Gulf Oil                    Mellon
 9. Commonwealth &            9. Sears, Roebuck              Rosenwald
   Southern (utility
   properties distributed)
10. Baltimore & Ohio RR      10. Standard Oil of             Rockefeller
                                   California
11. Santa Fe RR (ATSF)       11. General Telephone & Paine,  La Croix et al.
                                   Electronics
12. Cities Service           12. International Business      Watson-Smithers
                                   Machines                  Hewitt-Fairchild
13. Union Pacific RR         13. Standard Oil                Rockefeller
                                   (Indiana)
14. Socony Vacuum Oil        14. Consolidated Edison         Brady et al.
                                   (N.Y.)
15. Standard Gas &           15. General Electric            White, Gardner et al.
      Electric (utility prop-
      erties distributed)
16. North American Co.       16. Pacific Gas & Electric      Crocker et al.
      (utility properties
      distributed)
17. Northern Pacific Ry      17. Pennsylvania RR
18. American Power &         18. Southern Pacific            Harkness, James,
      Light (utility properties                              Dodge et al.
      distributed)
19. United Gas Improve-      19. E.I. du Pont de Nemours     Du Pont
      ment (utility properties
      distributed)
20. Great Northern Ry        20. Chrysler                    Chrysler-Bache
                                                             Hutton-Hanna-Mellon
21. Standard Oil (Indiana)   21. Bethlehem Steel             Mellon-Grace
22. Bethlehem Steel          22. Tennessee Gas               Symonds, Stone &
                                   Transmission              Webster
23. Ford Motor               23. New York Central            Kirby-Murchison
                                   RR                        et al.
24. American & Foreign       24. Shell Oil                   (Royal Dutch)
      Power
25. E.I. du Pont de          25. Western Electric
      Nemours
26. Electric Power & Light   26. Union Carbide               Kenan-Acheson
      (utility properties                                       et al.
      distributed)
27. Commonwealth Edison      27. Santa Fe RR
      (Chicago)
28. Chesapeake & Ohio Ry     28. Commonwealth Edison (Chicago)
29. Illinois Central RR      29. Phillips Petroleum          Du Pont-Phillips
30. Pacific Gas & Electric   30. Southern Calif              Crocker
      Edison
31. Texaco                   31. Southern Co.
32. Standard Oil of          32. Union Pacific RR            Harriman-Goelet
      California                                             Vanderbilt
33. Columbia Gas &           33. American Electric
      Electric                     Power
34. Anaconda                 34. Public Service
                                   Electric & Gas
35. Southern Ry              35. International Tele
                                   phone & Telegraph
36. Gulf Oil                 36. International                McCormick-Deering
                                   Harvester
37. Niagara Hudson Power     37. Sinclair Oil
38. Public Service           38. Aluminum Co. of              Mellon
      Electricity & Gas            America
39. National Power & Light   39. Norfolk & Western Ry         (Pennsylvania RR)
      (utility properties
      distributed)
40. Int'l Hydro-Electric     40. Westinghouse Electric         Mellon et al.
      System (utility prop-
      erties distributed)
41. International Telephone  41. Cities Service                Rockefeller Founda-
      & Telegraph                                                tion et al.
42. United Light & Power     42. Continental Oil
      (utility properties
      distributed)
43. Norfolk & Western Ry     43. Monsanto
44. Louisville & Nashville   44. Columbia Gas &                Pitcairn et al.
      RR                           Electric
45. American Gas & Electric  45. El Paso Natural Gas
      (utility properties
      distributed)
46. International Harvester  46. Goodyear Tire & Rubber        (Sears, Roebuck)
47. General Electric         47. Procter & Gamble              Procter-Gamble
48. Empire Gas & Fuel Co.    48. Eastman Kodak                 U. of Rochester,
      (utility properties                                      M.I.T., Philipp,
      distributed)                                             Clark, Carter et al.
49. Middle West Corpora-     49. Anaconda                      Connor, Gimbel,
      tion (utility properties                                 Guggenheim
      distributed)
50. Philadelphia Electric    50. Republic Steel                Mather
51. Reading                  51. Dow Chemical                  Dow
52. Shell Union Oil          52. Consumers Power
53. Pacific Telephone &      53. Philadelphia Electric         Rosengarten
      Telegraph
54. Republic Steel           54. Niagara Mohawk                Schoelkopf, 
                                    Power                      Machold,
                                                               Easton, Lewis et al.
55. New England Power        55. General Public
      Association                   Utilities
56. American Water Works     56. Firestone Tire &              Firestone-Rieck
      & Electric (utility           Rubber                     Woodworth
      properties distributed)
57. Southern California      57. Allied Chemical               Meyer, Weber,
      Edison                                                   Nichols et al.
58. Kennecott Copper         58. Radio Corp. of America
59. Consolidated Oil         59. International Paper           Phipps-Mills
60. Koppers                  60. Texas Eastern                 Brown & Root
                                    Transmission
61. Engineers Public         61. Celanese
      Service (utility
      properties distributed)
62. Atlantic Coast Line      62. Detroit Edison
       RR
63. Philadelphia Company     63. Armco Steel                   Payson et al.
      (utility properties
      distributed)
64. Armour (Illinois)        64. Texas Utilities
65. Swift                    65. Reynolds Metals               Reynolds
66. Western Union            66. National Steel                M. A. Hanna
      Telegraph
67. Detroit Edison           67. Northern Pacific Ry                               †
68. Union Carbide            68. R. J. Reynolds                Reynolds
                                    Tobacco
69. Sears, Roebuck           69. Tidewater Oil                 Getty
70. American Tobacco         70. Great Northern Ry                                    †

† In both these companies a strong interest was held by the late Arthur Curtiss James, who died without heirs. The late Vincent Astor was also a leading stockholder in Great Northern Railway.

71. New York, Chicago &      71. American Natural
      St. Louis RR                 Gas
72. United Gas               72. American Can                  Moore
73. Northern States Power    73. Olin Mathieson                Olin
                                    Chemical
74. Pullman                  74. Atlantic Refining             Rockefeller
75. International Paper      75. Sun Oil                       Pew
76. New England              76. Inland Steel                  Block-Mather
      Telephone & Telegraph                                    Ryerson
77. Missouri-Kansas-Texas    77. Southern Ry
      RR
78. West Penn Electric       78. Middle South Utilities
79. Aluminum Co. of America  79. Consolidated Natural Gas
80. Consumers Power          80. Jones & Laughlin               Laughlin-Horne
                                    Steel                       Jones
81. Allied Chemical          81. Kaiser Aluminum                Kaiser
82. Westinghouse Electric    82. Virginia Electric & Power
83. Delaware & Hudson        83. Union Oil of                   Matthews-Stewart
      RR                            California                  Earl
84. F. W. Woolworth          84. Kennecott Copper               Guggenheim
                                                                Penrose et al.
85. Youngstown Sheet &       85. W. R. Grace                    Grace-Phipps
      Tube
86. Jones & Laughlin         86. Louisville & Nashville         (Atlantic Coast
      Steel                        RR                           Line RR)
87. Montgomery Ward          87. Sperry Rand
88. Phillips Petroleum       88. Deere                          Deere
89. Armour (Delaware)        89. Montgomery Ward                Ward, Thorne, 
                                                                Avery, McLennan
90. Lehigh Valley RR         90. F. W. Woolworth                Woolworth-McCann
                                                                Donohue-Kirby
91. National Steel           91. Chicago, Burl. & Quincy RR
92. Tidewater Oil            92. Continental Can
93. National Dairy Products  93. Caterpillar Tractor
94. Duquesne Light Co.       94. Youngstown Sheet & Tube        Mather
95. Phelps Dodge             95. Singer                         Singer-Clark
96. Goodyear Tire &          96. Pacific Lighting               Miller-Volkman
      Rubber                                                    Schilling
97. Chrysler                 97. National Dairy                 Rieck-Breyer
                                   Products                     McInnerney
98. Central & South West     98. American Tobacco               Elkins-Widener
      (utilities)
99. United Fruit             99. U.S. Rubber                    Du Pont
100. Atlantic Refining      100. Great Atlantic &               Hartford
                                    Pacific Tea
101. Great Atlantic &       101. Peoples Gas Light &
      Pacific Tea                  Coke
102. Liggett & Myers        102. Union Electric (St.
      Tobacco                       Louis)
103. R.J. Reynolds Tobacco  103. American Cyanamid              Bell-Darby
                                                                Biddle-Duke
104. Eastman Kodak          104. Pittsburgh Plate Glass         Pitcairn-Mellon
105. U.S. Rubber            105. Transcontinental Gas           Stone & Webster
                                   Pipe Line
106. Pure Oil               106. Minnesota Mining & Mfg.        McKnight
107. American Can           107. Pure Oil                       Dawes et al.
108. Warner Brothers        108. Ohio Edison
109. Federal Water Service  109. Burlington Industries
110. Lackawanna RR          110. New England
      (absorbed by Erie RR)         Electric System
111. Peoples Gas Light &    111. Florida Power & Light
        Coke
112. Central RR of N. J     112. Illinois Central RR
113. Western Maryland Ry    113. Duke Power                     Duke
114. Firestone Tire &       114. American & Foreign             (Electric Bond &
        Rubber                      Power                       Share)
115. American Radiator &    115. United Air Lines
        Std. Sanitary
116. Union Oil of Cal.      116. General Foods                  Post-Davies-Hutton
                                                                Woodward-Igleheart
117. Boston Edison          117. Northern States Power
118. Singer                 118. American Airlines
119. Inland Steel           119. Northern Natural Gas
120. Duke Power             120. Weyerhaeuser                   Weyerhaeuser
                                                                Clapp-Bell
                                                                McKnight
121. Pere Marquette Ry      121. Crown Zellerbach               Zellerbach
       (absorbed by
       Chesapeake & Ohio Ry)
122. Virginian Ry           122. Marathon Oil                   Rockefeller
123. Pacific Lighting       123. Chicago, Mil. & St. Paul RR
124. American Smelting &    124. Pacific Power and Light
        Refining
125. Consolidated Gas,      125. Allegheny Power System
       Electric Light & Power
        of Baltimore (name
        changed)
126. American Rolling Mill  126. B. F. Goodrich                 Goodrich, Raymond
       (Armco)                                                  et al.
127. Glen Alden Coal        127. Borden                         Borden-Milbank
                                                                Horton
128. Procter & Gamble       128. Boeing
129. Loew's, Inc            129. Pan American Airways
130. Weyerhaeuser           130. Brunswick
131. Pittsburgh (Consolida- 131. Long Island Lighting           Phillips-Olmsted
        tion) Coal                                              Childs
132. Ohio (Marathon) Oil    132. J. C. Penney                   Penney-Ginn-Sams
        Co.
133. B. F. Goodrich         133. Erie-Lackawanna RR
134. Continental Can        134. Georgia-Pacific                Cheatham-Pamplin
135. Kansas City Southern   135. Federated Department
        Ry                          Stores
136. Long Island Lighting   136. Swift                          Swift
137. Lone Star Gas Corp.    137. National Distillers            Panhandle Eastern
        Pipeline
138. Sun Oil                138. Sunray DX Oil
139. Hearst Consolidated    139. Trans World Airlines           Howard Hughes
        Publications, Inc.
140. Cincinnati Gas &       140. General Dynamics               Henry Crown
        Electric
141. United Shoe Machinery  141. Baltimore Gas & Electric
142. Cleveland Electric     142. Panhandle Eastern
        Illuminating                Pipe Line
143. National Biscuit       143. United Aircraft
144. Wheeling Steel         144. Chicago & North Western Ry
145. S. S. Kresge           145. Pennsylvania Power & Light
146. Borden                 146. Atlantic Coast Line            Walters-Newcomer
                                    RR                          Jenkins
147. Hudson & Manhattan     147. Potomac Electric
        RR                          Power
148. Paramount Pictures     148. St. Regis Paper
149. American Sugar         149. North American Aviation
150. Pittsburgh Plate Glass 150. Joseph E.Seagram               Bronfman
                                    and Sons
151. Western Pacific RR     151. May Department Stores          May
152. Brooklyn Union Gas     152. Corn Products                  Milbank-Allen
                                                                Moffett et al.
153. Allis-Chalmers         153. General Tire & Rubber
154. Corn Products          154. Owens-Illinois                 Levis, Allied 
                                                                   Chemical
155. Crane                  155. FMC
156. Deere                  156. Coca-Cola                      Woodruff-Candler
                                                                Whitehead-Lupton
157. Crown Zellerbach       157. Safeway Stores                 Skagg-Lynch
                                                                Merrill
158. Continental Oil        158. Allis-Chalmers                 Milbank-Falk
                                                                Albright
159. General American       159. Lockheed Aircraft
        Transportation
160. National Lead          160. Signal Oil & Gas
161. R. H. Macy             161. Wisconsin Electric Power
162. New England Gas &      162. Western Union                  Vanderbilt-Astor
        Electric                    Telegraph                   Geddes-Schiff
163. American Car &         163. Kimberly-Clark                 Kimberly
        Foundry
164. Anderson, Clayton      164. Public Service of Colorado
165. Wilson                 165. Houston Lighting & Power
166. Morris & Essex RR      166. General American               Mellon-Epstein
                                    Transportation              Bernheim
167. Radio Corp. of         167. Borg-Warner
        America
168. New Jersey Zinc        168. Public Service of Indiana
169. Owens-Illinois         169. Honeywell
170. Richfield Oil          170. Standard Oil (Ohio)            Rockefeller
171. Cudahy                 171. Armour                         Armour-Prince
172. International Shoe     172. Cleveland Electric Illuminating
173. Marshall Field         173. Illinois Power
174. Gimbel Brothers        174. Southern New England Telephone
175. Philadelphia & Reading 175. Chicago, Rock Island
                                    & Pac. RR
176. Schenley Distillers    176. Kroger
177. J. C. Penney           177. Martin Marietta
178. Climax Molybdenum      178. Schenley Industries            Rosenstiel-Jacobi
                                                                Wiehe-Schwarzhaup
                                                                Gerngross
179. Lehigh Coal &          179. Seaboard Air Line RR
        Navigation
180. Standard Brands        180. Phelps Dodge                   Hanna-Dodge
181. Coca-Cola              181. American Smelting &            Deering
                                    Refining
182. Kansas City Power &    182. National Cash Register
        Light
183. General Foods          183. Richfield Oil                  Atlantic Refining
                                                                (Rockefeller)
184. S. H. Kress            184. National Lead                  Cornish
185. International Business 185. American Metal Climax          Hochschild-Loeb
        Machines                                                Sussman-Selection
                                                                Trust
186. National Supply        186. J. P. Stevens                  Stevens, Duke
187. General Telephone      187. Charles Pfizer                 Pfizer
188. Safeway Stores         188. Consolidation Coal             Mellon-Hanna
189. U.S. Smelting          189. Spiegel
190. American Cyanamid      190. Colgate-Palmolive              Colgate
191. Colgate-Palmolive-Peet 191. Campbell Soup                  Dorrance
192. Carolina Clinchfield   192. Philip Morris
        & Ohio Ry
193. American Metal         193. American Machine
                                    & Foundry
194. Boston & Albany RR     194. Kaiser Industries              Kaiser
195. California Packing     195. Bendix
196. Mid-Continent          196. Kaiser Steel                   Kaiser
        Petroleum
197. American Woolen        197. United Merchants & Mfrs.
        (now Textron)
198. U.S. Gypsum            198. Litton Industries              Ash
199. National Distillers    199. American Motors
200. Texas Gulf Sulphur     200. Douglas Aircraft               Douglas,
                                                                J. S. McDonnell
                            201. Scott Paper
                            202. Allied Stores                  Prudential
                                                                Insurance Co.