Word: hopsons
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...important duties. But in Washington, where business often mixes with politics, Chip was meanwhile establishing a reputation as the Capital's greatest little mixer. After newshawks caught him and Presidential Secretary Marvin Mclntyre at a hotel room party given by the lobbyist for Utilitarian Howard Colwell Hopson, the roly-poly New Deal hobgoblin, Chip resigned. Presently, through Jim Farley's good offices, Chip bobbed up again as secretary of the Democratic National Committee. Today he and his beauteous second wife, "Evie" Walker, who has become a Washington chitchat writer (and last month, a mother), are the New Deal...
...Washington, SEC last week accused Associated Gas & Electric Co.-company of Howard Hopson, roly-poly bad boy of utilitarians-of deceiving the public by whopping accounting errors...
...more than a month Wall Street and Washington have heard that roly-poly Howard Hopson, kingpin of $1,038,000,000 Associated Gas & Electric Co., was so ill he was under an oxygen tent. Since Mr. Hopson has often been "ill" when the Government wanted him for hearings and investigations of his fabulous operations, many a cynic wondered whether the utility magnate's latest indisposition was a portent of further trouble...
With $900,000,000 worth of properties scattered from Staten Island to the Philippines and owned through a maze of 172 companies capped by Associated Gas & Electric, Mr. Hopson's problem was as tough as any. For all these 172 companies, the law allows Mr. Hopson only two corporate baskets, and all actual operating properties must be grouped in two geographic chunks...
...consisting of power properties in New York, Connecticut, Pennsylvania, New Jersey, Maryland, Virginia, Delaware and West Virginia; the other in the Carolinas, Georgia, Florida, Kentucky and Tennes see. The first "system" is already, as required by law, almost entirely "integrated" geographically, the second obviously cannot be. For this the Hopson lawyers had an "out" which will doubtless give SEC pause- they maintained that since each subsidiary was wholly located in a single State or adjoining States, the plan met the provisions...