Salt Lake Telegram | 1935-09-07 | Page 18 | Utilities Law Action Speeded

UTILITIES LAW ACTION SPEEDED V WASHINGTON ASHINGTON Sept 7 UP UP- UP Assured of funds to administer the controversial Wheeler R Rayburn act securities and exchange commission commission attorneys today mo ed rapidly to place major utility holdIng holding holding hold hold- ing companies under federal regu regu- r gu- gu lation Action was hastened after a decision decision decision de de- de- de by Comptroller General J. J R. R McCarl authorizing transfer of funds from the S E C to enforce I Ithe the utilities law until congress meets again The massive document providing for holding company regulation which became law Jaw after a bitter congressional battle is being scrutinized ed by lawyers to determine the extent of oC the commissions commission's powers and responsibilities In less than four weeks the commission commission com com- mission must decide what rul rules s and regulations will wilt govern holding bolding companies Until the task of oC analyzing the law is completed it is believed no substantial organization work will willbe willbe willbe be started Eventually a sizable staff of of- experts and clerical workers work work- ers will be asked to enforce the law