Word: hopson
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...invite attention to one H. C. Hopson . . . the dominant figure and guiding spirit of the Associated Gas & Electric System. As a dominant figure he is a marvel and I think he admits it. As a guiding spirit he leaves nothing undone to accomplish his purpose. ... In my opinion under the present setup, no body can effectively regulate such an organization. It is too big, too powerful, its officials are too fast and its lawyers too smart. ... I have seen them juggle their books, juggle their cash, juggle foreclosure sales where they were both buyer and seller, juggle their taxes, juggle...
This blast from quiet Senator Fred Her bert Brown of New Hampshire played its part in persuading Congress to pass the Public Utility Holding Company Act of 1935 ("death sentence"). Howard Hopson, lying low ever since he was spanked by the Black investigation for lobbying against the Act, has left to his more conventional brethren in utilities the job of fighting the death sentence. Last week that fight was apparently over. Having battled unavailingly up to the Supreme Court, all the major utilities submitted plans for slicing themselves up in accord with the death sentence. For the occasion it pleased...
...Public Utility Holding Company Act, the utility industry has resembled a poker game with vast stakes and SEC Chairman William O. Douglas dealing. Last week, Bill Douglas dealt a new hand to an intriguing set of opponents-lean, smart, Floyd Odium of Atlas Corp., fat, cunning Howard Hopson of Associated Gas & Electric Co. and bald, battle-worn Harley Clarke, late president of Utilities Power & Light Corp. As this hard-bitten trio of utility financiers studied their cards, kibitzers gathered thick around. For the play was the first test of the notorious utility "death sentence," and everyone agreed that Bill Douglas...
...Howard Hopson blundered in letting his Associated Gas system buy a fat chunk of U. P. & L. Class B stock in the 1920s. when shares sold as high as $90; Class B shares are now selling at about $1 each. What is more, in receiverships, debentures come before stock. So Floyd Odium's aces looked better than Howard Hopson's kings. In any case, Bill Douglas stands to win, for Floyd Odium hastened to say that he, for one, would not appeal any "death sentence" for U. P. & L. He thought it was "good economics apart from...
...returns. Empire Gas & Electric Co., subsidiary of shrewd, roly-poly Howard Colwell Hopson's Associated Gas & Electric Co., took a $38,543 deduction for the cost of lobbying against the Public Utility Holding Company Act. With some heat, the Internal Revenue Bureau rejected the claim. Last week in Washington, Empire Gas took it up with the Board of Tax Appeals, asked why lobbying should not be considered a "necessary business expense...