The Daily Alaska empire., 1938-07-18

were served by electric concerns whose stock was held by Middle West Utilities.
 In 1918 he was approached by directors of the Peoples Gas Light t& Coke Company of Chicago, seeking president when recevership seemed immin- ent He took the place, reorganized the company, prevented the recevershp and within five years the company was discharging its indebtedness
 once in the gas business Insull became president of the Midland Utilities Company holding corpora ton for Indiana and Ohio subsidiaries serving two hundred communities with light and transportation both by gas and electricity. He also took the presi- dency of the Northern Indiana Gas and Electric Company Midland subsidiary and brought iaison between the gas and electric industries which revelation to who had thought the two products natural competitors.
 He accepted the receivership of one of the five elevated railway lines doing business in Chicago and in 1924 he effected a consolidation which made him of the Chicago Rapid Transit Company a merger of all the lines.
 An interurban route had been built from Evan ston. north of Chicago to Milwaukee. Insun obtained control it in 1916 it's trains over the elevated tracks to the Chicago loop and offered two-hour service between the cities.
 In 1925 he acquired the Chicago South Shore and South Bend electric railroad and developed through the interurban lines of other utility corporations which he headed, connecting traction service from through Indianapolis South Bend Ft Wayne and Chicago to Milwaukee.
 In world days nsull dropped all his business matters to become chairman of the Illinois state council of defense. In another national crisis the emergency of 1931-32 he freed his son. Samuel Jrp from all duties with the Insul corpora tions so the younger might devote all of his time to relief work
 of mists as too steadfast belief during the boom stock market days of the late POS that "a new and lasting era of prosperity had arrived"
 Stock in Middle West Utilities advanced to S57O a share in 1929. Insul became mbued with the idea of "a new era" He changed his former conservative methods as a financier
 Stock issues were split and stock dividends sub stituted for cash payments. In 1929 he became alarmed over the rapidity with which stocks in his operating companies were being bought up by eastern capital. He became convinced that rivals were att tempting to gain control of his huge system
 He began buying stocks in his own companies at nigh pricesdetermined that the Insult empire should aot pass into other hands At one time he was re- ported to have offered premium of $50 a share above market prices for stocks believed to be leld by Cyrus Eaton of Cleveland and associates.
 That, students of the Insult system said was for most of the stress which his 1000 found themselves less than three years later. The stock which was purchased at high prices had been deflated Insults holding companies and trusts left in the lurch
 In June, 1882 he was definitely "out" of all his and like dethroned monarch saw the administration of his industrial realm pass into the hands of others. The failure of his companies meant he failure of Samuel Insull personally and the loss 1f every possession held by his wife his son. Samuel Lnsul Jrq and his younger brother, Martin, who had been his chief of staff in conquering the kingdom
 His only resources three pensions of S6 900 each voted to him by the directors of trio of his argest companies. Every cent otherwise had been hrown onto the scales in vain attempt to tip the balance in his favor
 He had sat on the boards of 85 corporations been chairman of 65 and president of eleven At the high water mark he controlled public utilities worth s4 4000000000 in the open market and had a personal fortune estimated at $100000000
 But 51 years after he had started his American career as secretary to Thomas Ava Edison he was eft at the of 72 without fortune and he went to France to find some little place which was cheap" where he could rest up bit"