Word: bonbrights
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Dates: during 1930-1939
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Although the Morgan-Bonbright interests patterned United's dance, the dancemaster is George Henry Howard, 47, graduate of Phillips Exeter Academy, Dartmouth (1907), Harvard Law School. Soon after United was formed he was asked to take the presidency and accepted. A long legal career in connection with utilities fitted him for the position. Much of this was gained in Electric Bond & Share, itself an expert master in the ballet of utilities. Mr. Howard's Bond & Share connection has brought co-operation between that company, United and Superpower. His first position was with Simpson, Thacher & Bartlett, attorneys, when Dwight...
...influence on the career of Floyd Leslie Carlisle, who now looms as the biggest Eastern figure in the electric utility world (TIME, June 9). He and associates control St. Regis Paper, which with its 2,170,000 shares of United Corp. is twice as big a holder as the Bonbright interests, four times as big as the Morgan and Drexel interests. To speak of United Corp. as the Morgan-Bonbright group is no longer correct. It is the Morgan-Bonbright-Carlisle group. And to serve history fully, a fourth name should be added to the hyphenated group, that of Schoellkopf...
...Bonbright...
Reporting for the first half year of 1930 United Corp., Bonbright-Morgan utility holding company, showed for the period a net profit of $4,107,453. About $3,000,000 resulted from dividends on stocks held and about $1,000,000 from sale of securities. A pleasing aspect of such a holding company as United Corp. is the fact that its operating expenses are virtually negligible, since it has no product to manufacture and no plant to run. Thus United Corp.'s expenses during the six months period amounted to $154,679. For the entire year the company expects...
...from the north-Italian district in which, in 1904, he organized his first utility company, Count Volpi became associated with Sidney Zollicoffer Mitchell, whose Italian Superpower Co. has a large interest in Adriatic Electric Co., parent Volpi company. In February (TIME, Feb. 17) Count Volpi together with the Mitchell, Bonbright and Field, Glore (Chicago) interests, organized European Electric Corp., Ltd., utility investment company with a Canadian incorporation and trans-Atlantic objectives. British & International Utilities, Ltd., therefore represented a combination of Italian, British and U. S. capital for entrance into the British utility field...