CORPORATIONS: The Great What-ls-lt?

Cleveland's M. A. Hanna Co. looks like a holding company (it has controlling or substantial interests in steel, coal, rayon and plastics companies), an investment trust (it owns $109 million worth of securities), and an operating company (it has its own fleet of 13 Great Lakes ore freighters, mines its own coal). It is indeed the great what-is-it?—and lean, square-jawed President George M. Humphrey likes it that way. Says he: "If we don't write down the way it's supposed to be, we can do it any way we want."

Humphrey's way is to...

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