108 The Stock Market Crash—And After
reaching all the way through from raw materials to
manufacture, advertising, and distribution. Profits
due to economies are the lure which brings about a
$200,000,000 consolidation of the express systems
 of Adams, American, and American Railway
Express.
The $550,000,000 holding company of the International
 Paper organization; the movement following
 a ten-year survey, for effecting mergers in the
lumber industry; the Fox chain of motion picture
theatres with its goal of one million seating capacity
in 1929; the merger of Radio Corporation of
America and Victor Talking Machine interests, with
$626,540,000 “to advance the reproducing art”; the
du Ponts’ absorption of the United States Rubber
Company; the formation by the Standard Oil Group
of an export merger under the Webb Act; the union
of six brass concerns to control 20 per cent of the
national output of brass and copper; the merger of
twelve dairy companies in the southwest; a rayon
corporation “to link continents”; a mortgage merger
to cover the nation; the merger of the cosmetic and
perfume industry; the mergers being considered in
the cement industry (the nation’s roads are rapidly
being transformed into cement); the authorized
mergers of the railway systems under the watchful
eye of the Interstate Commerce Commission; the
consolidation of power and light companies; the
many mergers of great banking institutions; the merger
 of both wire and wireless telephone and telegraph
communications advocated by Owen D. Young ;—