The main role of the Bureau was to study and report on industry, looking especially for monopolistic practices. Its 1906 report on petroleum transportation made recommendations that became part of theHepburn Act of 1906, and was used when the Justice Department successfully prosecuted andbroke up Standard Oil in 1911.
In 1912 the Bureau issued a report on the development ofwater power in the United States, including its ownership or control, and fundamental economic principles involved in utilization of this new and rapidly growing energy source. The report noted an increasing concentration of ownership and control of widely separated waterpower developments in the hands of a few; a substantial interrelationship among leading water-power interests, as well as a significant and increasing affiliation between water-power companies and street-railway and electric-lighting companies. The report stressed the importance of promptly adopting a definitive public policy concerning water-power development.[1] The various concerns expressed would initially be regulated by theFederal Water Power Act of 1920. The business, managerial, and financial practices of these early utility holding companies would proliferate,[2] but remain largely unregulated until thePublic Utility Holding Company Act of 1935.
Congress ordered the Bureau to investigate themeatpacking industry, specifically "the unusually large margins between the price of beef cattle and the selling prices of fresh beef, and whether the said conditions have resulted in whole or in part from any contract, combination, in the form of trust or otherwise, or conspiracy, in restraint of commerce".[3] The Bureau also conducted studies of tobacco, steel, lumber and other industries.
The Bureau became part of the newFederal Trade Commission in 1915. The new Commission took over both staff and ongoing investigations from the Bureau. Commissioner of Corporations,Joseph E. Davies, became the FTC's first Chairman and Davies' deputy Francis Walker became the chief economist of the FTC.
Fishbein, Meyer Harry. "Bureau of Corporations: An Agency of the Progressive Era" American University ProQuest Dissertations Publishing, 1954. 28595050.
MacLean, Elizabeth Kimball. "Joseph E. Davies: The Wisconsin Idea and the Origins of the Federal Trade Commission,"Journal of the Gilded Age and Progressive Era (2007) 6#3 pp 248–284.
Murphey, William, “Theodore Roosevelt and the Bureau of Corporation: Executive-Corporate Cooperation and the Advancement of the Regulatory State,”American Nineteenth Century History 14 (March 2013), 73–111.
