UTILITIES: Job with No Future

Most men take a new job because it has a future. But when Edward O. Boshell took on the presidency of Standard Gas & Electric Co. four years ago, he knew the job had none. Standard Gas, once the biggest U.S. utility combine, with 6,000,000 customers and $1.1 billion properties in 20 states, was under "death sentence" of the New Deal's Holding Company Act. Boshell's task was to work himself out of a job by liquidating the combine, one of the most complicated single reorganizations ever conducted under the act.

Boshell was well equipped. Born in Illinois and...

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