SECURITIES: Neat Decision

Over a month ago, Wendell L. Willkie's $1,214,000,000 Commonwealth & Southern Corp. told the Securities and Exchange Commission it would like to do some financing with and for its subsidiary, the $275,000,000 Consumers Power Co. (TIME, Dec. 11). Since then businessmen and politicos have played volleyball with rumors about how SEC would handle Presidential-Prospect Willkie's application. Last week, criticizing Commonwealth & Southern for dilatory filing of its intentions and for pressure tactics, SEC handed down a decision which neatly forestalled accusations that it was bent on handcuffing business enterprise.

Issues before...

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