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Show NEW CAPTAINS OF INDUSTRY OWEN D. YOUNG, in Collier Wtekly. IN A groat Dumber of our large corporations today the directing head has lost the dictatorial attributes implied in the popular phrase, "Captain of Industry," and he is what? I think he is a "trustee." The "trustee" manager thinks of his corporation as a business institution which he must conserve and build so as to obtain for it and its multitude of owners the largest measure of security and ultimate gain. In many ways he is in a position very similar to that of a college president. His board of directors is a self-perpetuating body, whose members mem-bers seldom are large ownerB of stock or representatives of dominant owners. Like college trustees they are picked for proved qualities and business standing. There is, then, this "board of trustees," and a chairman of these. He need not and should not he guided by immediate expediency. Do I then, as in the old order of thinking, merely represent capital? Am I hired to look solely after the interest of capital? If I were to do so, using the methods which were used in earlier generations, that would be a very sure way of doing barm to the interests of capital. No, the interplay of forces and the need for delicate proportion propor-tion and balance which develop with the great growth in size and the mechanization of industrial units demand that I represent not merely "capital" but owners, employees and customers alike, in the relationship of a trustee. And this I think, is a step in the right direction. |