POWER AUTHORITY.
DISPUTE IN UNITED STATES. CHATTANOOGA, Jan. 21. The Federal District Court held that the Tennessee ' Valley Authority was constitutional in the case in which 18 south-eastern utility companies alleged that the Tennessee Valley Authority was primarily a mammoth power business. The president of the million-dollar Commonwealth and Southern Corporation (Mr Wendell Wilkie) announced that he would appeal to the Supreme Court. ' President Roosevelt declared at a recent Press conference that all holding companies must bo eliminated from the-na-tion’s economic structure, whether they are in control of public utilities, banking, or other businesses. In responso to this statement, Mr Wilkie offered to break up his vast holding company by selling the entire south-eastern utility properties to the Government. “I make the suggestion as a last resort in a desperate situation,” he said. Mr Wilkie added that his action followed competition by the Tennessee Valley Authority and the Government’s declared intention of breaking up all holding companies. 110 asserted that President Roosevelt’s suggestion that .utilities should be sold to the municipalities was impossible, since the cities’ wholesale supply of electricity was obtainable from the Tennessee Valley Authority.
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https://paperspast.natlib.govt.nz/newspapers/MS19380125.2.132
Bibliographic details
Manawatu Standard, Volume LVIII, Issue 48, 25 January 1938, Page 7
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187POWER AUTHORITY. Manawatu Standard, Volume LVIII, Issue 48, 25 January 1938, Page 7
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