Business & Finance: Babes & Wolves

Franklin Roosevelt and Senator Burton K. Wheeler are on record as believing that most intermediate holding companies should be eliminated; Governor George Earle of Pennsylvania likes to assert that the long fingers of J. P. Morgan reach into too many crannies for the public good; SEC Chairman William Orville Douglas argues that major financing programs should always be subject to competitive bidding. Last week all three of these themes ran through the complicated story of a battle for control of rich Chesapeake & Ohio Railway.

C. & O., which made $34,500,000 in 1937, is not only one of the few U. S....

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!