After more than seven years on the statute books famed Section 11 ("Death Sentence") in the Public Utility Holding Company Act last week got its first court blessing. A Manhattan Appellate Court told North American Co. that the death sentence was constitutional, did not clash with the Fifth ("due process of law") Amendment. Up to that moment only the registration provisions of the Holding Company Act had been specifically upheld by the courts.
Crestfallen North American Co.which in a happier era the President had once cited as an example of a "good" holding companyhas 90 days to decide whether to...
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