The World's 100 Largest Capitalist Enterprises of 1912 ranked by Equity Market Capitalization

Transcription

1 Table 1 The World's 100 Largest Capitalist Enterprises of 1912 ranked by Equity Market Capitalization Peter Wardley (UWE, Bristol: 17 July 2006) Rank Company Equity Market Head Office / SIC Capitalization, m. Activity Location (1) Major Economic Activity code 1 United States Steel Corporation USA Coal, Iron, & Steel 2 & 6 2 Canadian Pacific Railway Company Canada Transport - Rail 22 3 Pennsylvania Railroad Company USA Transport - Rail 22 4 Midland Railway UK Transport - Rail 22 5 London & North Western Railway UK Transport - Rail 22 6 American Telephone & Telegraph USA Telecommunications 22 7 Suez Canal Company 97.4 France / Egypt Transport - Canal 22 8 Union Pacific Railroad 92.3 USA Transport - Rail 22 9 Great Western Railway 91.6 UK Transport - Rail Standard Oil (NJ) 80.6 USA Petroleum 4 11 North Eastern Railway 65.1 UK Transport - Rail Northern Pacific Railway 63.9 USA Transport - Rail Atchison, Topeka & Santa Fe Railway 62.8 USA Transport - Rail Coats (J.& P.) 62.3 UK Textiles - Cotton Thread Southern Pacific Company 61.4 USA Transport - Rail Chicago, Milwaukee & St. Paul Railway 60.1 USA Transport - Rail Great Northern Railway (USA) 58.3 USA Transport - Rail New York Central & Hudson River Railroad 57.2 USA Transport - Rail New York, New Haven & Hartford Railroad 49.7 USA Transport - Rail Delaware, Lackawana & Western Railroad 49.0 USA Transport - Rail Chicago & North Western Railway 46.2 USA Transport - Rail Lancashire & Yorkshire Railway 43.0 UK Transport - Rail Royal Dutch-Shell Transport & Trading Group 42.1 Netherlands & UK Petroleum 4 24 Buenos Ayres Great Southern Railway 42.1 UK / Argentina Transport - Rail Interborough Rapid Transit Co USA Transport - Rail Pullman 41.1 USA Engineering - Transport Equipment Paris-Lyon-Mediterranean (Chemins de fer) 40.0 France Transport - Rail Caledonian Railway 39.1 UK Transport - Rail 22 Peter Wardley (UWE, Bristol: 17 July 2006)

2 Table 1 (Cont.) The World's Largest Capitalist Enterprises of 1912 ranked by Equity Market Capitalization Rank Company Equity Market Head Office / SIC Capitalization, m. Activity Location # Major Economic Activity code 29 Great Northern Railway (UK) 39.1 UK Transport - Rail Central Argentine Railway 37.1 UK / Argentina Transport - Rail Reading Company 37.0 USA Transport - Rail De Beers Consolidated Mines 36.6 South Africa Mining - Diamonds 2 33 Anaconda [Amalgamated Copper] 36.5 USA Mining - Non-ferrous Metals 2 34 British-American Tobacco 36.4 UK FD&T - Tobacco Manufacture 3 35 London & South Western Railway 36.3 UK Transport - Rail North British Railway 36.2 UK Transport - Rail General Electric 35.7 USA Engineering - Electrical 9 38 Singer 35.5 USA Engineering - Instrument 8 39 American Tobacco 34.7 USA FD&T - Tobacco Manufacture 3 40 Nord (Chemins de fer) 34.6 France Transport - Rail Bank of England 33.7 UK Finance Baltimore & Ohio Railroad 33.3 USA Transport - Rail Banque de France 32.3 France Finance Paris à Orleans (Comp. Chemins de fer de) 31.5 France Transport - Rail Illinois Central Railroad 31.3 USA Transport - Rail Crédit Lyonnais 31.2 France Finance Great Eastern Railway 30.7 UK Transport - Rail Rio Tinto 30.4 UK / Spain Mining - Non-ferrous Metals 2 49 International Harvester 30.3 USA Engineering - Agricultural 7 50 Norfolk & Western Railway 28.4 USA Transport - Rail Eastman Kodak 26.3 USA Engineering - Instrument 8 52 Grand Trunk Railway Company of Canada 26.2 Canada Transport - Rail London Brighton & South Coast Railway 26.1 UK Transport - Rail Erie Railroad 25.3 USA Transport - Rail Bank of Spain 25.3 Spain Finance 24 Peter Wardley (UWE, Bristol: 17 July 2006)

3 Table 1 (Cont.) The World's Largest Capitalist Enterprises of 1912 ranked by Equity Market Capitalization Company Equity Market Head Office / SIC Rank Capitalization, m. Activity Location # Major Economic Activity code 56 Deutsche Bank 25.3 Germany Finance South Eastern Railway 25.0 UK Transport - Rail Gas Light & Coke 23.5 UK Utility - Gas Louisville & Nashville Railroad 23.3 USA Transport - Rail Imperial Tobacco 23.2 UK FD&T - Tobacco Manufacture 3 61 Buenos Ayres Western Railway 22.4 UK / Argentina Transport - Rail American Sugar Refining 22.4 USA FD&T - Food 3 63 Guinness (Arthur) & Sons 22.4 UK FD&T - Alcoholic Beverage 3 64 Great Central Railway 22.3 UK Transport - Rail Eastern of France (Chemins de fer de l'est) 21.5 France Transport - Rail Lehigh Valley Railroad 21.3 USA Transport - Rail Delaware & Hudson Railroad 20.8 USA Transport - Rail Phelps Dodge 19.8 USA Mining - Non-ferrous Metals 2 69 Utah Copper 19.4 USA Mining - Non-ferrous Metals 2 70 Mines de Lens 19.3 France Coal 2 71 Allgemeine Elektrizitäts-Gesellschaft (AEG) 19.1 Germany Engineering - Electrical 9 72 American Smelting 19.0 USA Mining - Non-ferrous Metals 2 73 Du Pont (E.I. Du Pont de Nemours Powder) 18.5 USA Chemicals - Explosives & Paints 5 74 Southern Railway Company 18.3 USA Transport - Rail Disconto-Gesellchaft 18.3 Germany Finance Standard Oil (California) 18.1 USA Petroleum 4 77 Mines de Bruay 17.9 France Coal 2 78 Lever Brothers 17.9 UK Chemicals - Household & Foodstuffs 5 79 Gelsenkirchener 17.7 Germany Mining - Coal 2 80 US Rubber 17.4 USA Engineering - Transport Equipment Sears, Roebuck 16.9 USA Distribution Crédit Foncier de France 16.4 France Finance 24 Peter Wardley (UWE, Bristol: 17 July 2006)

4 Table 1 (Cont.) The World's Largest Capitalist Enterprises of 1912 ranked by Equity Market Capitalization Rank Company Equity Market Head Office / SIC Capitalization, m. Activity Location # Major Economic Activity code 83 Swift 16.0 USA FD&T - Food & distribution 3 84 Rock Island Company 15.9 USA Transport - Rail Comptoir National d'escompte 15.7 France Finance Dresdner Bank 15.2 Germany Finance Woolworth (F.W.) 15.1 USA Distribution Oesterreichische-Alpine Montangesellschaft 14.9 Austria-Hungary Coal, Iron, & Steel 2 & 6 89 National Biscuit 14.7 USA FD&T - Food 3 90 Lloyds Bank 14.7 UK Finance Goodrich (B.F.) 14.7 USA Engineering - Transport Equipment London City & Midland Bank 14.6 UK Finance Standard Oil (NY) 14.6 USA Petroleum 4 94 Mackay Companies 14.5 USA Telecoms - Holding Company United Fruit 14.4 USA / Central America Primary (AFF) - Tropical Plantation 1 96 London County & Westminster Bank 14.4 UK Finance Phoenix A.G. für Bergbau & Hüttenbetrieb 13.8 Germany Coal & Iron 2 & 4 98 Rand Mines 13.8 South Africa Mining - Gold 2 99 Banque de Paris et des Pays-Bas 13.8 France Finance Westinghouse Electric & Manufacturing Co USA Engineering - Electrical 9 Total 3,711m. Sources: Notes: See text and Appendix. (1) Country of major activity also indicated where Head Office location is different. Peter Wardley (UWE, Bristol: 17 July 2006)

5 Table 2 Geographical Location of the World's 100 Largest Capitalist Enterprises of 1912 by Equity Market Capitalization ( m.). (a) Location of Head Office in 1912 Location of Number of National Average market Proportion of total Head Office capitalist market valuation of world capitalization, enterprises capitalization, m. capitalist enterprise, m. % Austria-Hungary France Germany Spain Netherlands & UK United Kingdom 27 1, South Africa Canada USA 48 1, Total 3,711m 37m 100% (b) Location of Major Economic Activity in 1912 [adjustments to Panel (a) to indicate employment by British overseas companies]. Location of Major Activity Spain Argentina United Kingdom Source: See Table 1. Peter Wardley (UWE; Bristol: 17 July 2006)

6 Table 3 Economic Activity of the World's 100 Largest Capitalist Enterprises of 1912 by Equity Market Capitalization ( m.). SIC Economic Sector Number of Sector Market Proportion of total Average market code enterprises Capitalization, world capitalization, valuation, m. %. m. 1 Agriculture, Forestry & Fishing Food, Drink & Tobacco Processing Mining and Quarrying & 6 Coal, Iron & Steel Manufacture Petroleum Chemicals Engineering Textiles Gas, Electricity and Water Transport 45 2, Telecommunications Distributive Trades Finance Source: See Table % 37m Total 3,711m Note: SIC, Standard Industrial Classification (see text). Peter Wardley (UWE, Bristol: 17 July 2006)

7 Table 4 The World's 100 Largest Enterprises of 1912 ranked by labour employed. Peter Wardley (UWE, Bristol: 2006) Rank Company Workforce Country Ownership Major Activity/Sector SIC 1 Russian State Railway 565,435 Russia state Transport - Rail 22 2 Prussian-Hessian State Railway 525,322 Germany - Prussia state Transport - Rail 22 3 General Post Office (United Kingdom) 240,134 UK state Postal Services 22 4 Reichspost (Imperial Germany) 239,168 Germany state Postal Services 22 5 Austrian State Railway 225,608 Austria-Hungary state Transport - Rail 22 6 United States Steel Corporation 221,025 USA corporation Coal, Iron, Steel 2 & 6 7 United States of America Post Office 214,770 USA state Postal Services 22 8 Pennsylvania Railroad Company 148,994 USA corporation Transport - Rail 22 9 Italian State Railway Company 148,759 Italy state Transport - Rail American Telephone & Telegraph Co. 140,789 USA corporation Telecommunications Hungarian Royal State Railway 135,261 Austria-Hungary state Transport - Rail Japanese State Railway 109,983 Japan state Transport - Rail France Post Office 108,288 France state Postal Services East Indian Railway Company 103,314 India state Transport - Rail Russia Post Office 101,222 Russia state Postal Services Canadian Pacific Railway Company* 96,000 Canada corporation Transport - Rail Indian Post Office 92,755 India state Postal Services Singer 91,444 USA corporation Engineering - Textile Mach Paris-Lyon-Mediterranean (Chemins de Fer) 90,100 France corporation Transport - Rail Great Indian Peninsula Railway 89,749 India corporation Transport - Rail North Western Railway (India - military) 89,202 India state Transport - Rail London & North Western Railway 82,529 UK corporation Transport - Rail 22

8 Table 4 (Cont.) The World's 100 Largest Enterprises of 1912 ranked by labour employed. Rank Company Workforce Country Ownership Major Activity/Sector SIC 23 Siemens (Siemens & Halske/Siemens-Schuckert) 81,235 Germany family Engineering - Electrical 9 24 Japan Post Office 79,393 Japan state Postal Services Italy Post Office 76,302 Italy state Postal Services Great Western Railway Company 75,783 UK corporation Transport - Rail Austria Post Office 73,589 Austria-Hungary state Postal Services Krupp (Friedrich) 73,405 Germany family Engineering - Various 6 29 Etat (Compagnie du Chemin de Fer) 72,500 France state Transport - Rail Midland Railway Co.. 72,379 UK corporation Transport - Rail Belgian State Railway 71,907 Belgium state Transport - Rail Allgemeine Elektrizitäts-Gesellschaft (AEG) 70,162 Germany corporation Engineering - Electrical 9 33 Baltimore & Ohio Railroad Company 65,212 USA corporation Transport - Rail Baverian State Railway 65,170 Germany state Transport - Rail New York Central & Hudson River Railroad 63,005 USA corporation Transport - Rail 22 =36 Chinese State Railway 60,000 China state Transport - Rail 22 =36 General Electric Company 60,000 USA corporation Engineering - Electrical 9 38 Bombay, Baroda & Central Indian Railway Company 56,977 India corporation Transport - Rail Nord (Compagnie du Chemin de Fer) 56,600 France corporation Transport - Rail Union of South Africa Government Railways 55,273 South Africa state Transport - Rail Eastern of France (Chemins de Fer de L'est) 54,100 France corporation Transport - Rail Paris a Orleans (Compagnie des Chemins de Fer) 51,700 France corporation Transport - Rail Prussian Rhineland state-owned mines 51,520 Germany state Mining - Coal 2 44 Royal Dockyards (UK) 50,350 UK state Engineering - Marine Illinois Central Railway Co. 49,967 USA corporation Transport - Rail 22

9 Table 4 (Cont.) The World's 100 Largest Enterprises of 1912 ranked by labour employed. Rank Company Workforce Country Ownership Major Activity/Sector SIC 46 Gelsenkirchener Bergwerks A.G. 49,670 Germany corporation Mining - Coal 2 47 North Eastern Railway Co. 49,619 UK corporation Transport - Rail Chicago, Burlington & Quincy 49,293 USA corporation Transport - Rail Atchison, Topeka & Santa Fe Railway 48,567 USA corporation Transport - Rail Saxony State Railway 48,061 Germany state Transport - Rail GAU - Russian State Main Artillery Administration 47,400 Russia state Engineering - Military 7 52 Chicago, Milwaukee & St Paul Railway Company 46,674 USA corporation Transport - Rail United Fruit 46,000 USA corporation Tropical Plantations 3 54 Armour 45,000 USA corporation FD&T - Meat Processing 3 55 Southern Pacific Railway 44,088 USA corporation Transport - Rail American Tobacco* 44,000 USA corporation FD&T - Tobacco Manufacture 3 57 Madras & Southern Mahratta Railway Company 43,245 India corporation Transport - Rail International Harvester 42,979 USA corporation Engineering - Agicultural 7 59 Chicago & North Western Railway Company 42,782 USA corporation Transport - Rail Ryazan-Uralsk Railway Company 42,699 Russia corporation Transport - Rail Hungary Post Office 40,725 Austria-Hungary state Postal Services Eastern Bengal Railway Company 39,915 India corporation Transport - Rail Phoenix A.G. für Bergbau & Hüttenbetrieb 39,735 Germany corporation Coal, Iron & Steel 2 & 6 64 Central Argentine Railway Co. 39,054 Argentina corporation Transport - Rail Deutsche-Luxemberg Bergwerks 38,760 Germany corporation Coal, Iron & Steel 2 & 6 66 South Eastern Railway 38,317 Russia corporation Transport - Rail 22

10 Table 4 (Cont.) The World's 100 Largest Enterprises of 1912 ranked by labour employed. Rank Company Workforce Country Ownership Major Activity/Sector SIC 67 Great Northern Railway (USA) 38,301 USA corporation Transport - Rail Austrian State Tobacco Monopoly 38,267 Austria-Hungary state FD&T - Tobacco Manufacture 3 69 Southern Railroad 37,718 USA corporation Transport - Rail Lancashire & Yorkshire Railway Co. 37,317 UK corporation Transport - Rail Bengal-Nagpur Railway Company 36,727 India corporation Transport - Rail Erie Railroad 36,687 USA corporation Transport - Rail Swift & Co. 35,000 USA corporation FD&T - Meat Processing 3 74 Commonwealth of Australia Post Office 34,372 Australia state Postal Services Louisville & Nashville Railroad 34,329 USA corporation Transport - Rail Great Northern Railway 34,019 UK corporation Transport - Rail Russia Government Department of Mines 33,723 Russia state Coal, Iron & Engineering 2, 6 & 7 78 New York, New Haven & Hartford 33,287 USA corporation Transport - Rail Elsass-Lothringen (Alsace-Lorraine) Reichseisenbahn 32,108 Germany state Transport - Rail New South Wales Railway 31,746 Australia state Transport - Rail Imperial Japan Naval Dockyards 31,667 Japan state Engineering - Military Great Eastern Railway Co. 31,350 UK corporation Transport - Rail National Railways of Mexico 31,179 Mexico state Transport - Rail Schneider (M.) 31,000 France corporation Engineering - Various 7 85 Fine Cotton Spinners & Doublers 31,400 UK corporation Textiles - Cotton Harpener Bergbau 30,556 Germany corporation Mining - Coal 2 =87 American Woolen 30,000 USA corporation Textiles - Wool 13 =87 Armstrong (Sir W.G.), Whitworth & Co. 30,000 UK corporation Engineering - Various 7 =87 Coats (J. & P.) Ltd. 30,000 UK corporation Textiles - Cotton 13

11 Table 4 Rank (Cont.) The World's 100 Largest Enterprises of 1912 ranked by labour employed. Company Workforce Country Ownership Major Activity/Sector SIC 90 Vladikavkaz Railway 29,864 Russia corporation Transport - Rail Chicago, Rock Island & Pacific Railway 29,776 USA corporation Transport - Rail Japanese State Tobacco Monopoly 28,664 Japan state FD&T - Tobacco Manufacture 3 93 Imperial Japan Military Arsenals 28,584 Japan state Engineering - Marine Great Central Railway Company 28,108 UK corporation Transport - Rail Grand Trunk Railway Company of Canada* 28,000 Canada corporation Transport - Rail Baden State Railway 27,939 Germany - Baden state Transport - Rail Midi (Compagnie du Chemin de Fer) 27,800 France corporation Transport - Rail Gutehoffnungshütte 27,720 Germany corporation Mining - Coal 2 99 Boston & Maine Railroad 27,544 USA corporation Transport - Rail Vereinigte Königs- und Laurahütte 27,125 Germany corporation Coal, Iron & Steel 2 & 6 Total employment of the world's 100 largest private and state enterprises 7,354,840 Sources: See text and Appendix. Notes: * Workforce approximated. FDT: Food, Drink and Tobacco.

12 Table 5 Geographical Location of the World's 100 Largest Enterprises of 1912 by Employment. Location of Operational Number Total Share of Average Size Head Office in 1912 of Workforce Workforce of Enterprise Enterprises % Workforce China 1 60, ,000 Japan 5 278, ,658 Austria-Hungary 5 513, ,690 Belgium 1 71, ,907 France 8 492, ,511 Germany 16 1,427, ,229 Italy 2 225, ,531 Russia 7 858, ,666 UK , ,999 India 8 551, ,986 Canada 2 124, ,000 Australia 2 66, ,059 Union of South Africa 1 55, ,273 Argentina 1 39, ,054 Mexico 1 31, ,179 USA 27 1,767, ,453 Total employment of the world's % 73,548 largest private and state enterprises 7,354,840 Source: See Table 4.

13 Table 6 The Economic Activity of the World's 100 Largest Enterprises of 1912 by Employment. Number Sector Sector Average SIC Major Activity/Sector of Workforce Workforce Size of Code enterprises % Enterprise 1 Tropical Plantations 1 46, ,000 3 Food, Drink & Tobacco Processing 5 190, ,186 2 Mining - Coal 4 159, ,867 2 & 6 Integrated Coal, Iron & Steel 5 360, , Engineering , , Textiles 3 91, , Telecoms 1 140, , Postal Services 11 1,300, , Transport 58 4,426, ,327 Total employment of the world's % 73,548 largest private and state enterprises 7,354,840 Source: See Table 4.