Looking very prim with a black-ribboned pince-nez, Owen D. Young last week spent five hours in Manhattan explaining his business dealings with Samuel Insull. His questioner was Lewis F. Jacobson, counsel for the owners of $60,000,000 worth of debentures in Insull Utility Investments Inc. He sought "to prove complete knowledge by the officials of the General Electric Co. of the financial structure of the bankrupt and the restrictions against pledging securities."
The first financial relationship between Lawyer Young and Utilitarian Insull was when Mr. Insull formed holding companies to retain control of his empire....
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