Business & Finance: Terminated Truce

About three weeks ago, the ears of SEC Chairman William Orville Douglas tingled with pleasure when he received a telephone call from Partner George Whitney of J. P. Morgan & Co. Mr. Whitney informed him that vast ($236,000,000) United Corp. was finally willing to discuss registering with SEC under the utility holding company act.

Bill Douglas had reason to be pleased, for United has been almost as big a stumbling block in hi's program of utility simplification as Electric Bond & Share. United not only is one of the biggest utility holding companies but...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

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