Business: European Electric

Shrewd friend of diplomats and financiers is Count Giuseppe Volpi Di Misurata, onetime (1925-28) Italian Minister of Finance. Although a shipping enterprise brought Count Volpi his first wealth, his chief interest now is not water to bear his vessels, but water to spin the turbines of the vast hydro-electric enterprises which he controls. Recently, intent upon the development of a gigantic European electric power system, he decided he needed U. S. capital. Last week he and his associates finished a far-reaching deal with Americans who had capital, were glad to spend it for...

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