MARKETS: Booms and Bogs

A favorite New Deal complaint is that the public utilities are holding back on plant expansion and equipment modernization. Since 1933 the industry has spent some $600,000,000. Critics say potential needs totaled $3,000,000,000. The utilities' argument is that the New Deal's TVA, its Public Utility Holding Company Act, its generally belligerent attitude, have made it next to impossible for utilities to float new security issues. Last week there was evidence to the contrary: investors snapped up $53,000,000 worth of utility bonds, making the month's total more than $160,000,000. But since most of...

Want the full story?

Subscribe Now

Subscribe
Subscribe

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 TIME.com

Learn more about the benefits of being a TIME subscriber

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