"As a last resort in a desperate situation," Wendell Willkie, president of vast Commonwealth & Southern Corp. and sometime spokesman for the utility industry, five months ago proposed to Franklin Roosevelt that the Government buy up his utilities in TVA territory. What makes the utility situation seem desperate to such men as Wendell Willkie are two New Deal policies: 1) direct competition with the utilities through such projects as TVA and Bonneville Dam; 2) abolition of all except geographically integrated utility pyramids, which is a main feature of the Utility Holding Company Act of 1935. Result has been the bitterest of...
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