Show o Financial F Whirligig By fly JAMES AMES f NEW V YORK Dec Dee 1 1 Spokesmen 1 en for Cor the utilities are making a strong play among their their choi choicest choices est V Washington contacts to prove that the tho most effective way to promote recovery and particularly way reemployment reemploy reemploy- ment would be or for tho the government to give e the po power cr companies a break Their claim is I based on the physical physical cal cl need or expansion of power production facilities American Waterworks for instance is supplying supplying sup sup- plying g about 12 per cent more current in terms terms' of per kilowatt hours than It Jt did at lt any time j in 1929 Am American rl an Electric has just broken tho the Ice with wih the largest or or- or d der r in five years years- for plant expansion sion and slon-a and d the argument runs that every other important company every would do the te same if it weren't weren't for forthe forthe forthe the uncertainties of the holding company act acL act This in turn turn the the story stor runs would runs would tremendously stimulate activity and employment employment In n heavy industry the Industry the laggard Inthe in the ho recovery race race But alas however skilful and convincing convincing convincing con con- the missionaries it seems unlikely that their efforts will wi lead anywhere Even officials who are impressed by their reasoning g point out that after all aU the holding company com com- pany any act is law unless and until ho tho supreme court finally rules otherwise and the administration could hardly declare it null nun and void even cn if I it wanted to |