The Omaha guide., 1935-03-02
OFFICIALS OPPOSE
COMPANY LEGISLA-
: TI0NF III

mat rend r valueless the investment
of millions of security holders who in
vested their savingsin public utility
securities" stated the letter, jointly
signed by c, sbeck chairman,
and S. R. Ineig PRESIDENT
Regulatien not destructIon should
be the aim % iegisIation, twas stated.
Refetping TO competition with OPP
Grating companies by the Government
through yardstick" k@xsverment
pl-n9 and through lending Federal
moniesto municipalities bitter
says: HN
"WIBe1 goverHm mpefes
competition uben rrghlaEoa andz at
the same -tiusssAAeF @srw13p-
eraions shall be freg of the regula-
tons it. jmRQses on pghiYate business.
it does something essentially unfair
and imam, rican. Now it would go
even further. 1t proposes not only to
continue fuegdiati6n to- which it does
not itself submit; to engage in com-
petition, free from many EXPENSE,
such as taxes, which it makes private
buSinssaabeara but bysthe} eaaetnuent
a the proposed holding company
/ gisIatien to,-fopee hendismember-
ment aAda tdissolutionr ofc your Com
paAy a9AQ of others hike itP 1n97e7e
Pointing out that. since, January
1929, customer saFingss6rOm rate ne
Guetiqns sby1epmp9Rlesa an the Electric
Bond ard Share group I'M this scpmtryi
aloBea have vaggrggatedneyer $s5,0O0.s
O00, iii S4HtiBHeS; asnb JUo Ho1 o. amor
mo criticism ssrdireetado2againB
anytpfr the rGaonpaRssean t1s, Bdertric
Bond aEpl65e 6Shae Gomga@ynsroup &fS
legiinnggr 4R9o5h yiesiiHNad@uatSnfaf
cifitifefs, tf hfaiiluFra, te Eesfend TO tegitiE
matet hdemRfaHnyds fegs.e%eensiona ors foD.
lack of raqfa99Pauat afinaRciakr resources
This stateag + affairs, Rpd the tattend1
ant benefits. to amAli9Aa ofiedpeopie
Throughout the e~QqntFynsfby no means
z mere Aapp ming. 1t isEthegresIft
OF 80 yeAFSgof hsgaB ntslligsnti@Ork
and planning eby1can sOrganizatium'of
ex%perisnced, financial, technical, eco
nomic, accounting. rate apdRsw busip
ness and ot5hegr expertal dmOst, of whom
have had their tEaiping1h aetualz0perl
atingl apda manageFiabowerk an the
field ~0peerretiGg congratulations and
abrQaa- "Bw 1Bn4 s1r9n99oHn eYfS III
The gett4tefrr states nthakIy "Thesb als
now Pef9Fe GQngHess srBrcas difficult
to understaHd efogdwhat stheyunxcudes
as fer sNbaaht they s~ineludeuo Ao@s atf
holding companies 1aEeo+o h~aIdesfroyai
ed, but DopuhiGf gtality' nhofa5Ag'
comppaannie4SSs $50 Observation-Disclosures
ing ACKNOWLEDGEMENTS Dbe 9fptrSgeds
but, 9ply these ssssgsd irnrthe eisttric
or gas IkufineSs1on bAtAt i~441isssee1fxs
to be in the Observation-Disclosures
natoEytttxR -nc rof hotnw ,Asew tx9V
bThe q~pesloaYts asked ifsthe holds
ing company is prohibited in any ONE
industry, why. sboV1dribohotbe pro
hibittesaaa in aBs5gdus&rjesgA srlssi1do
The letter invited Stockholders to
compare the increase in the cost of
food,1 and ci6tEaAggao1@a With 4 theft
electric, sbfna #Sfeh s@otAd sspETSbaBfy
show tfaa che inafease % lo 4hfr in qtthhss
food,c faeffss7n 6d cEdRtFm Yi f?9:a6nni amounts to
many tfmiegs9'tR s totaf 9ggffeeeetrffee bhf.. q
No company ihhthg Effgacat}fffc Bond
and 9Shafd groadAp3,a it IS lagtlafed,T
ipulstesf gegdfHieg;yF the 9indis9tribHfgd
earnfhgsz6f sdBsidiary Ss6gHifabanie$ ha3Aes
never been taken into the books 81
the holding companies; dividends have
neveF
ing4 ADD 90 u~Patfaanh