Show CEN GEN GENI EL ELECTRIC DENIES CHARGES Is Not Kot a Trust and Does Not Own Waterpower er er Letter Says NEW YORK Jan By 13 13 By The Associated The Press The General ElectrIc company In a letter to Its made public Tuesday denied that It controls the th water waterpower power and light industries of the country that It Is a great monopolistic oli tlc Interest or gigantic trust and that It Is I controlled by J S P and company The letter signed by Owen D Young chair chair- chairman chairman I man ot of the tb board of ot directors and Gerard Swope president Is In re re- reI reply reply reply I ply to certain moves made against the company in congress The Th senate February 9 1925 cli- cli di dl directed the th federal trade commis commis- commission sion to Investigate and report report to the senate to what extent extent he be Gen Gen- General eral com company any monopolizes or lr controls contros the th production genera I tion or transmission of ot electric energy energy y In restraint ot of o trade trad or commerce and In violation of ot the law I Statements Statement in the th senate enat that the General Electric company con con- controls I conI trois the waterpower of ot the coun- coun country coun country try as well as a the th light and power business are ar refuted with tho the reo re- reply re reply ply that the th does doe not notown notown notown I own any nor has It stock control of ot any company 0 on- on own own-int Ing water power As A to light and pOtier the letter states state that the company does dots not either directly or 01 indirectly own o the th control of any ary light and power company and that tk- tk the 11 total 1 holdings ot of the Gen Gen- General eral Electric company directly and In Indirectly In the th Issues Issue ot of o electric light and power securities ot of o the country are approximately one ha half of ot one on per cen cent t of ot the th total Issues ot of su suph h securities that It Is I a great mo- mo interest and a gigantic trust controlling everything In la the I electrical ItIs ItIe world but admitting It Is Ie the th largest man manufacturer In the electrical Industry the company points to the th census figures fleure for tor 1 1923 23 the th latest available These figures show how that the th company's output that year was waa wa approximate approximate- ly approximately or 21 per cent of the total output of electrical man man- manufacturer |