Of all utility super-holding companies, J. P. Morgan's United Corp. was the biggest and fell the hardest. United now looks back ruefully on its ten checkered years of existence and hopes that it has finished taking its licking. In this connection it announced last week its first step toward quitting business as a utility holding company and setting up as an investment trust. It reported that in the past three months it had invested nearly $2,500,000 in 15 leading common stocks (Chrysler, DuPont, General Electric, etc.).

United Corp. was created Jan. 7,...

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