UTILITIES: No Neckties, No Cigars

The Supreme Court of the District of Columbia last week handed down a decision which, if upheld by the Supreme Court of the U. S., may deeply affect relations between the U. S. and hydroelectric companies.

Ordinarily, 50-year licenses are issued to hydroelectric plants provided that the Government audits the power company's investment so as to have data for rate-regulation and for an option of buying the plant when the license expires. Last July the old Power Commission (consisting of three Cabinet members) asked Attorney General Mitchell if it would be legal...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!