Business: Unpyramiding

A public utility Mother Goose book might include a section about the holding company that held the holding company that held the holding company that held the operating company that lighted the lights in the house that Jack built. For utility systems are complicated, full of little units with big units upon their backs to finance them. Last week, however, Commonwealth & Southern Corp., one of the largest of U. S. super-holding companies, announced a marked simplification of its associated companies. The result of this...

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