JUDICIARY: The Ax

After a decade of high-priced le~al haggling, the U.S. Supreme Court let the ax fall on holding companies. This week. by a 6-to 0) vote* the Court upheld the "Death Sentence" clause of the Public Utility Act of 1935.

No one was surprised. Most holding companies gave up hope long ago and began breaking up their systems. North American, whose appeal in 1943 from a Government order to divest itself of its 80 companies brought the Supreme Court into the fight, is still largely intact. It will now have to confine its activities...

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