Evening star. [volume] (Washington, D.C.) 1854-1972, 1940-12-22

up more than S2O000,0O0 worth anc
his companies through which he hao
handled the transactions made g
profit of more than 100000 in cash
and 81 100000 in warrants.
Bewildering TangIe of Issues.
Hopson's endless-chain system Of
financing resulted in a bewilderine
tangle of stock and bond issues
1t became virtually impossible tt
trace a given security back through
the maze of holding companies ano
subsidiaries to whatever ultimate
value it might have represented
Hopson's phenomenal fiscal dex'
terity seems traceable to the fact
that before ne took over A. G. & E
he spent nearly 80 years acquiring
extensive background in economics
accounting, law and utilities man
agement.
Hopson was the son of a nursery
salesman in Fort Atkinson, Wis. In
his boyhood he sold newspapers
worked in a brickyard and wire
factory and edited a country weekly
There is story that he read SO
much the local librarian could not
keep him supplied and finally gave
him a special permit to use the
adult reading facilities, and that
when he went out in the country
to help relatives with the haying
the neighbors used to remark
That Hopson boy seems to know
everything"
He worked his way through the
University of Wisconsin and one of
his jobs was assistant to Prof. John
r. Commons, the noted economics
teacher. He also studied under
Richard T. Ely, prominent econo-
mist.
On graduating Hopson worked for
the Interstate Commerce Commits
sion in Washington for a year,
meanwhile getting his masters de-
gree at George Washington Uni
versity and being admitted to the
bar.
When the New York State Public
Service Commission was formed in
1908 Hopson got job on its staff
and worked up to head of its CAPT.
talization division. After seven
years he left and became a utilities
consultant in Wall Street.
Was Extremely Energetic.
Until his recent illness he always
was extremely energetic and ag-
gressive When he became 81 his
father is said to have remarked
thankfully, well, Howard, now that
you are 81 I don't have to take
orders from you any more"
He worked IS hours day and
more-from 8 in the morning until
after midnight-which left him
little time for private life.
He remained bachelor. His only
blood relatives are three sisters
Mrs. Daniel Starch and Mrs. S. Muir
ray Jones, both of New York-with
whom he lived much of the time
and Miss Perle Hopson of Brookline
Mass.
Hopson always has shrunk from
the public eye so much that h,
has never even mentioned the
Associated system in his Who
Who biography.
The Nation at large didn't heal
Of him until 1888 when he was callee
to testify at Ferdinand Pecora'.
Senate stock market inquiry.
American business had crashed
into the depths and the Government
wanted to find out if certain preva.
lent financial practices weren't part.
ly responsible.
Hopson didn't want to testify. HI
disappeared for weeks. Finally HI
was forced to turn over many of hi!
records to the committee.
He didn't know it then, but tina
was the beginning of the end.
He resumed his activities for two
more years, but during the debat'
on the public utilities holding com
pany bill-for which his activities
were partly responsible - HopsoI
was called to Washington again ant
quizzed by a Senate COMMITTEES
headed by Hugo Black.
Accused of instigating a flood o
hundreds of kilograms to Washing
ton protesting against the bill, Hop
son replied YEARLY:
You have me on the hip
Resigned His Offices.
In a few weeks he resigned hi
Offices in the Associated system-bu
he retained his financial interest.
In the next three years the grow
ing network of new laws regulating
business frightened like q straitjacke
on the far-hung fiscal acrobatics o
his colossus.
Its amazing expansion slowed to
stop. Its class A stock dropped from