National Affairs: Power & Light Housecleaning

When he reforms, no one reforms more violently than the penitent rake. Prime bad boy of U. S. industry, in the eyes of the public, Congress and Federal Trade Commission, has been the electric light & power business. Three years ago the Trade Commission focused attention on the vigorous propaganda work which the National Electric Light Association, controlled by disgraced Samuel Insull, was carrying on in schools and colleges (TIME, Aug. 31, 1931). Later the Insull crash threw into bold relief such practices as the looting of operating companies by holding companies, the...

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

Learn more about the benefits of being a TIME subscriber

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