Perhaps it will be well to state first what does not constitute
an industry. Power, transportation facilities, fine buildings,
fine machinery and a group of skilled workmen, a complete office
staff and an elaborate system of fad management do not constitute
an industry. Such an aggregation might be likened to a cargo ship
all ready for service excepting that it lacks a captain and
navigating officer and some one to determine what kind of a cargo
to take, where to go and how to get there.
The greatest value of an industrial plant that has everything but
a work to do and a leader to determine its major policies, lies in
the skilled workers and able executives in work and office. The
buildings and machinery come next in value, but the whole thing is
worthless without the idea and the vision.