Business & Finance: Grubb on Surplus

In the opinion of Federal Judge William Irwin Grubb of Alabama, the Government has no right to engage in the power business except to dispose of a surplus incidental to the exercise of some other Constitutional function. So said the wiry little septuagenarian jurist last autumn during the legal preliminaries of an injunction suit to restrain the Tennessee Valley Authority from buying private Alabama power properties (TIME, Dec. 10).

Last week in Birmingham Judge Grubb granted the injunction, holding that TVA's power plans far exceeded any reasonable surplus that might be generated in connection with flood control, navigation or...

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!