The Age of Mergers 117 
cannot be withdrawn any more than the ties of a rail- 
road can be torn up overnight. 
Certain large industries have gained in public 
confidence and consequently in the value of their se- 
curities by publishing ‘important information about 
production, earnings, and expenditures. The motion 
picture industry and the building industry in New 
York are examples. The practice of retaining a 
general supervisor to vouch to the public for the 
honesty and decency of an industry's policies has 
apparently met with success. 
The financial reports of certain enlightened cor- 
porations, such as the United States Steel Corpora- 
tion, General Motors, the Philadelphia Company, 
the Standard Gas and Electric Company, the Con- 
solidated Cement Corporation and others have espe- 
cially met with general approval as meeting the needs 
of the investor and the public. Some organizations 
may find it practicable and profitable to satisfy as 
fully the consumer interest, by securing independent 
certifications as to their products, methods and de- 
signs. We already have certified milk and other food 
and medicinal products, as to healthfulness, and certi- 
fied elevators, boilers, and ships as to safety. The 
process might be extended. Such certification might 
be obtained under safeguards like those now thrown 
about the investigations and reports of public account- 
ants. They would represent a substantial advance 
in the cause of truth in advertising, with a convinc- 
ing appeal to the most important party in interest, 
the consumers, in constantly broadening markets for