Word: edisons
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Summoned to the White House one day last week was Floyd Leslie Carlisle, chairman of not one but two of the country's great utility companies, Consolidated Edison and Niagara Hudson Power. President Roosevelt is not on intimate terms with any powermen but Mr. Carlisle's and the President's cordial dislike of each other is something of a record, dating as it does from pre-New Deal days, when Franklin Roosevelt was Governor of New York State, Mr. Carlisle's bailiwick. But now, with a Grade A business recession on his hands, the President, like...
...headline purposes this announcement was precisely what the President wanted. But its significance was precisely nil. Niagara Hudson and Consolidated Edison are intraState companies, unaffected by the Federal "death sentence" on utility holding companies, largely exempt from other sections of the Public Utility Act of 1935 and far from the madding competition of TVA. Moreover, Mr. Carlisle planned to spend the $112,000,000 anyway...
...week's end were back almost to the year's lows set on "black Tuesday," October 19. Dow-Jones industrial averages were down to 125.25, railroads to 31.67, utilities to 21.21. U. S. Steel stood at $53, Allied Chemical at $152, New York Central at $18, Consolidated Edison at $23, General Motors...
Others pointed out that the utility industry had a $3,200,000,000 expansion program, ready to uncork if only the Government would rescind its "death sentence."* Affectionately cheered was white-fringed old Alex Dow, president of Detroit Edison Co., when he pleaded: "To what end is business being guided, anyway? Is investment of their moneys or speculation for profit to be made safe for the stupid and for those overwise in their own conceits- by policing every traveler on that road? Are we to mark the way of the Lord through business laws and ethics according to the specifications...
...word FLASH. These up-to-date figures sprinkled through the bulk of late statistics are supposed to give traders an inkling of the market's trend. The 16 FLASH issues: Atchison, Topeka & Santa Fe; American Telephone & Telegraph; Anaconda Copper; Chrysler; Sears, Roebuck; Great Northern (preferred); Consolidated Edison; Republic Steel; General Motors; Standard Oil of N. J.; General Electric; N. Y. Central; Electric Power & Light; U. S. Steel; U. S. Rubber; Douglas Aircraft...