Business & Finance: Milking Prohibited

Members of National Electric Light Association, convening in Atlantic City last week, heard Chairman Floyd Leslie Carlisle of Consolidated Gas stoutly define a well-managed holding company as a "potent instrument for the public welfare." Because of the Insull and Tri-Utilities collapses as well as the Kreuger scandal, the holding company theory at present is the subject of many an attack, many an inquiry. Last week from the Public Service Commission of the State of New York, the holding company theory received its 'second setback in three weeks.

First setback was when Long Island Capital...

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