UTILITIES: Unchased Rainbow

Long has the Senate Interstate Commerce Committee considered the repeal of a law which commands that there must always be competition in the declining U. S. telegraph industry. Last January it got the opinion of the Federal Communications Commission: that Western Union and Postal Telegraph ought to merge, that there is not enough business to support both, especially Postal. The Senate did nothing.

Same month Postal came out of reorganization with a new capital structure, a new president (TIME, Feb. 12). Like all competent telegraph men, new President Chinlund was in favor of eventual merger too. "But," said he, "I...

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