Salt Lake Telegram | 1935-12-20 | Page 29 | Financial Whirligig

Financial Whirligig By J JAMES ES MCMULLIN l NEW YORK Dec Dee 20 The 20 The more utilities look at the setup forI for I tests of ot the holding company law the tho le less 5 they like it ft The securities exchange commission is doing some American all blocking to keep their tacklers out of ot the play Nor is it just a question of at beating them to the draw in the courts Heres Here's another another an an- other angle that will count The commissions commission's sweet reasonableness reasonableness reason reason- with the power companies is 15 likely to earn urn valuable legal divi divi- It gave them every opportunity opportunity opportunity to hedge their registration almost on their own terms It has Issued no regulations for holding companies not companies nol even the registered ones It has publicly announced that it wll not attempt punitive acton action toward the companies that failed to register nor resIster nor their officers and directors So what 1 So how hows is s any group group- going to to- prove td a acourt's acourt's acourt's courts court's satisfaction that it has suffered suf- suf cred damages because of the act net The commissions commission's conduct emphasizes emphasizes sizes its contention that the ties ies have havo been yelling eUing murder for which nothing nothing which puts them af at a de tie psychological disadvantage Moreover er even if utility lawyers surmount urmo the hurdles the SEC SEe has thrown in their path chances are ho tho commissions commission's own s suit ll against Electric Bond and Share will get a start head-start and reach the supreme court long before its h handicapped competitors which competitors which would be just dandy andy with the commission G. G O. O P. P insiders advise keeping an e eye e on a 1 man who has been almost completely ignored amid the furore about Hoover and Borah and Landon and Knox You hardly ever everee eversee eversee see ee young Teddy Roosevelt's name namen in n the papers any more Hes He's no favorite among the party powers to tobe tobe tobe be sure And the idea that he might be a presidential candidate seems far Yet for tor all that Tedd Teddy has very quietly and cannily built up tip a sizable and friendly following following fol- fol lowing owing au all over the countr country that might count for tor a s' lot in a deadlocked deadlocked dead- dead locked convention He Ho has done It through his presidency presidency dency ency of ot the National Republican club lub in New York He has renovated renovated ed d the place spiritually and cally Practically nobody used to togo togo too go o there except venerable gentlemen gentlemen gentle- gentle men nen wh who had nowhere else to go T. T R. R has made it a lively and attractive attractive at- at rendezvous for party young- young especially especially those under 30 Young G G. O. O P. P leaders from out of town own arc are hospitably welcomed Tedd Teddy Teddy Ted Ted- d dy is adept at giving the personal touch ouch So dozens perhaps dozens perhaps hundreds hun hun- of of them have gone home singing ing his praises as a grand host and nd a 8 swell feU fellow ow Teddy's presidential horse I Is so dark ark that its it's practically invisible But others just 81 as dark have come through in the past when the lead- lead ers st rs standing out as targets for tor pubic public pub pub- lie lic ic criticism had criticism had killed each other ot off ff Copyright 1935 for lor The Telegram