When the electric industry of the U. S. first got under way, the problem of financing its customers at once arose. The General Electric Co. consequently organized the Electric Bond & Share Co. as a subsidiary, to supervise electrical engineering construction projects and to obtain capital for them. In enterprises so financed, purchases of electrical equipment were confined to the General Electric as a seller. The Electric Bond & Share Co. came to control directly or indirectly over 100 electric power, street railway and gas companies, with a combined capital of about $650,000,000...
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