Show p A P. P 1 ASSERTS r I SEC EXEMPTION PYON W 1 WASHINGTON Nov SO ff The United S 'S Stoics s' s si Steel e c corpor corporation Uon and I th Union Pacific Railroad c company A applied to the the securities co commission com com- mission B for for exception irom from fion tr under the Holding company cf c 0 o ground g they arc are no nota not holding companies a i The companies moved under a ti sion of the law ex exempting In Industrial In- In str al and other other corpor corporations who only to a a- small extent in the tho Utility business The applications ha had little relative to the tile fight of the major utility holding companies against the act under which most big big- 3 systems st t UI already have refused ft to to r register giter The rhe hc applications apparently were prepared prior to a anew new commis- commis 1 lion aion rule announced yesterday lug Ing blanket automatic exemptions Ith tit Ut the necessity necessity- 1 even of filIng 1 p p pers to such companIes and to predominantly Intrastate utility ty holding concerns Additional ap applications today than hundred brought to more a he number r of utility a arid and d other companies corn com s s seeking exemption Today's filings gs' gs In Included l ded Pacific Gas and Electric company and nc its subsidiary Great Western ower company of California rn a. a Pa- Pa 1 tl Gas stated neither it nor any of f C its subsidiaries are subsidiaries of the North American company a major holding company which has already refused to I register gister ir Most Mo t top-rank top utility systems were lined up to battle the new deals deal's holding company company act in the courts on constitutional on issues 7 Bet Before re deadline for registratIon registration tion Ulan unde under the act arrives at midnight mid mid- night t tomorrow other companies are are re expected t to join the fight ref refusing re- re f fusing to g-to to register with the securities and asking the courts to prevent the tho government from forcing them Registration is the first step in administration of f the new law Jaw which I seeks to limit the sway of some some utility holding companies eliminate No Bothers others th rs and regulate those left in f existence existence The Th embattled concerns charge the tho act is unconstitutional Ten major systems are arc among those which have thus far sued the government another big system is ison ison isop on op the receiving cn end ena of a government govern government govern govern- ment mont suit some 40 actions b by systems systems jems and their subsidiaries have havel l jeen en brought in in- federal courts in inn n many cities I f t The ne' commission drew v satisfaction tion from the tile dismissal of a suit tiro brought in a Wilmington Del federal federal fed fed- eral court The judge held that the government a legal party to the suit must have its day in court The government lost a similar case casein casein casein in Baltimore where the judge declared de de- de- de dared lared the net act unconstitutional The utilities observers feel are arc attempting to create as many suits as possible with the id idea J that at their chances of or obtaining favorable d. d de decisions etc etc- thus thU are in increased reas p. p f. f 1 |