Business: Spring Fever

Spring fever was high in Federal Light & Traction Co.'s annual meeting, held last week on the 45th floor of a Manhattan skyscraper. Sunlight tumbled through the windows. Eight spring-struck shareholders (of Federal's 1,900) lolled in their chairs, babbled of brook trout and pheasant. One shareholder stirred, asked President Clarence H. Nichols if there was anything interesting about the company. Droned Mr. Nichols: "No, it's the same old thing, we earn our charges and a little bit more."

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