[PRCo] Roosevelt Conference on Utilities

[Fred Schneider]

http://news.google.com/newspapers?id=gwAdAAAAIBAJ&sjid=ZY4EAAAAIBAJ&pg=4156%2C6659051
 

Pittsburgh Press

      Digital:  January 15, 1935, page 28

      Print:  January 21, 1935, page 9

 

POWER EXPERTS MAP

UTILITIES’ PROGRAM

Roosevelt Calls White House Conference on Bill

 

By the United Press:

WASHINGTON, JAN. 21—New Deal electrical power experts today discussed a three-point program to remedy what President Roosevelt deems to be evils of the holding company system of public utilities control.

   Mr. Roosevelt summoned a conference today to discuss holding company legislation.  The Federal Power Commission would propose legislation to provide:

   Federal control over acquisition of operating companies by holding companies; Federal supervision of contracts between operating and holding companies; Federal regulation of loans among holding companies and their subsidiaries.

   The legislation may be ready for submission to Congress this week.   In his annual message Mr. Roosevelt said he would submit a bill to eliminate “the evils of holding companies.”  The Power Commission’s program looks toward control of relations between holding and operating companies rather than to further regulation of the sale of holding company securities.  Commission experts contend the investing public is adequately protected by publicity provisions of the Securities, but that, in general, the rights of electric power consumers remain unprotected.