OCR Text |
Show REAL PUBLIC OWNERSHIP With 48,259 individual holders of its common stock, the Southern California Cali-fornia Edison company of Los Angeles An-geles probably has more people financially fin-ancially interested in its business than any other electric utility in the world. This enormous ownership by consumers, con-sumers, residents of the territory which it serves and company employes, em-ployes, makes a record in the pub lic utility business which is attracting attrac-ting very general attention, and is having an important bearing on financing. fin-ancing. Starting with a plan by which air employes could become participating stockholders in the company, experience exper-ience has proved that the ownership of stock by employees has increased their efficiency and has resulted in economy in operation and tended to bring the servise to a very high point of excellency. Ownership by consumers keeps the ownership and management of the company in Southern California where the problems of electric development de-velopment and distribution are understood. un-derstood. A community in which an average of about one family out of four derives de-rives a portion of its income from the dividends of the company which supplies its electricity service, is essentially es-sentially a thrifty and progressive community in which disturbers and agitators find little sympathy an, sound financing iis regarded as the basis of future prosperity. |