Business & Finance: Deterding on Oil

Pennsylvania's President William Wallace Atterbury, General Electric's Owen D. Young and many another U. S. tycoon felt something like a slap in the face last week when one of Europe's biggest industrialists quietly dubbed railway electrification obsolete. Arriving in Manhattan for a week's visit, Managing Director Sir Henri W. A. Deterding of Royal Dutch-Shell said: "Electrification, except in a suburban way, is a thing of the past. Diesel power is far cheaper than electricity. With electricity, if the power plant breaks down, nothing moves, but...

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