New-York tribune., 1921-06-03
q Billion of
Public Utilities
Stock for Sale
Securities of Over 100
Corporations May Be
Offered to Public by
Chicago Board of Trade
Say n. Y. Lacks Market
Cheap Power am Impossible
ity Unless Huge Sum Is
Obtained for Expansion
Special Dispasch to The Trioa.,a

CHICAGO, June 2.--The s21 900 ,ooo,-
900 worth Of electric light, gas.
electric railway and telephone Sc
curities of public utilities of the
United States may soon be added
10 the trading list on the Chi
ego Stock Exchange. The falicities
Of the exchange were offered these
utilities to-day following conference
between Stock Exchange representa-
tives and delegation OF 100 electric
light and power executives who are
attending the convention OF the Ma
tional Electric Light Association at the
Drake Hotel
Plans we're made for listing the util-
tiles securities. John T. Gilchrlst, vica-
president Of the Commonwealth Edison
Company, presided at the conference.
The Chicago Stock Exchange was off,
cislly repr' sented by Walter s, Brew
ster, of Russell, Brewster & Co. and
Joseph Z, Rushton, Of Babcock, Rush-
ton 4 Co,
Chicago Chief Market
"The public is ready for an ouen
public security market, but no such
market exists now," Mr.. Brewster said
in addressing the meeting. "New York
has no market. Here in Chicago we
have the second largest stock market.
Small groups Of utility securities are
listed and enjoy trading, but there has
been no general listing.
Chicago is the geographical center
OF the country, one of the largest own
ers Of utilities securities and the logical
market for them. There never was a
more opportune time for the immedi
ate inauguration of such a step, for
now the industrials are having
troubles, railroads are in the dumps
and utilities have come out OF the
war with flying colors and are in in
vestme ent demand. Chicago has finan-
cial facilities for handling a great
market of this kind and stands reaoy
TO assume the task"
Finances Biggest Problem
N. S. Sloan, Of the Brooklyn Edison
Company, reporting to the convention
for the committee on electrical re-
sources for the nation, said that the
greatest problem facing power COM
panies was how to obtain the billion
dollars annually required to take care
OF the growth of the business.
The problem Of finance was said to
be handicapping the electric light in
dustry and unless large investments
are made and greater earnings OBJ
tanned, the report said, the production
OF cheap, efficient power would be
greaCly retarded.
Ar Sloan said that development of
water power under the new Federal
Power Commission would cost s3.70O
100000 IN plants and equipment in the
next four years.
Sixty millions of horsepower would
be added to America S power supply
when the nations water power is har-
messed, Henry D. Shute, of New York.
told the convention. He said the low
est point of depression in the electric
industry had been passed and that fu-
,ufs acceleration would depend on
large scale purchases by the railroads
and more home building
Hartford Powell jr., editor of Golfers
said:
'In addition to supplying people with
your light and power, you now ask
them to support your Industry with
their Investments. You want them to
study the acts about you, and so YOU
are interested in what they read. You
are beginning to speak TO them through
the printing press You are not SO
silent as you were few years ago,
and You appear to have come to the
belief that the public should have the
1acts and that, in consequence, you will
now receive the squarest kind of a
square deal.
And you will receive it, and will
Fave more demands for your service.
fou now supply with electricity $780,