GOVERNMENT: A Round for Dixon-Yates

The battered Dixon-Yates contract last week won an important round. From two Securities and Exchange Commission lawyers came the recommendation that the commission approve initial financing of the Dixon-Yates plan to supply power to TVA at West Memphis, Ark. in exchange for a similar amount of power from TVA to the Atomic Energy Commission at Paducah, Ky. and Oak Ridge, Tenn. The contract is legal, said the lawyers, and the proposed profit to Dixon-Yates is "not significantly out of line."

While the lawyers' recommendation will probably be accepted by SEC, it will not necessarily be the end of the Dixon-Yates row....

Want the full story?

Subscribe Now

Subscribe
Subscribe

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 TIME.com

Learn more about the benefits of being a TIME subscriber

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