Surprised and pleased last week was SEC Chairman William Orville Douglas by a sudden rush of utility holding companies to register with the commission. Though the constitutionality of the 1935 Public Utility Holding Company Act is still undecided by the Supreme Court, fortnight ago the $570,000,000 United Light & Power Co. voluntarily registered under the act. Last week two more utility holding companies knocked at SEC's door —Engineers Public Service Co., which registered all $369,000,000 of its assets, and Cities Service Co., which asked for exemption for itself but registered the $428,000,000...
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