Business & Finance: Solomon's Verdict

For eight months, two U.S. utility titans have fought before the Federal Power Commission for an estimated $125-million-a-year plum: bringing the first natural gas to New England (TIME, March 20).

H. Gardiner Symonds, president of Tennessee Gas Transmission Co., proposed to invade New England with a subsidiary, the Northeastern Gas Transmission Co., which would take gas from his 1,600-mile Texas-to-Buffalo line, fan it through New England over a 529-mile system at a total investment of $140 million. Eastern Gas & Fuel Associates, which controls about half the manufactured gas supply of New England, at first opposed the natural gas invasion; then it...

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