December 30, 1899
AT&T Takes Over Bell System
American Bell, at the time parent corporation of the AT&T company, reorganizes and transfers its assets into AT&T. American Bell was incorporated in Massachusetts and AT&T was incorporated in New York. Massachusetts corporate laws would have limited the growth of American Bell so by reorganizing, AT&T could bypass Massachusetts law by becoming the parent company of American Bell and the Bell System. Eventually, AT&T would become a legalized monopoly in the United States.