"Through the device of a trust, which held shares in each component company, Rockefeller was able to circumvent the laws which then prohibited a company in one state from owning shares in another; at the same time, he could and did pretend that all the companies were independent. He had no personal doubts about the rightness and need for this kind of concentration: 'this movement,' he said later, in a famous passage, 'was the origin of the whole system of modern economic administration. It has revolutionized the way of doing business all over the world. The time was ripe for it. It had to come, although all we saw at the moment was to save ourselves from wasteful conditions . . .The day of combination is here to stay. Individualism has gone, never to return.'"
Anthony Sampson. The Seven Sisters