Business & Finance: United Write-Off

Vast United Corp. owns an agglomeration of investments in power properties scattered all over the East. Formed by the Morgan-Bonbright-Drexel interests in 1929, it marked the return of J. P. Morgan & Co. from pure banking to promotional activities. Because United Corp. does not attempt to influence the operating policies of its affiliated power companies, it is a favorite of utility operating men. But this makes no difference to SEC. For, though power companies require heavy capitalizations that make financiers their logical bosses, SEC believes that systems of operating companies pyramided to a...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

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