Magazine content is available exclusively for TIME subscribers.Business & Finance: Utility Week
At the turn of the year Howard Colwell Hopson. dominant figure in Associated Gas & Electric Co., found himself in a tight fix. During the next twelve months he faced $42,000,000 of bond and note maturities. Failure to refund or pay off any of them would send one or more of its multitudinous subsidiaries toppling into the hands of receivers, might pull down the parent company. A sharp accountant with a salesman's slant, Mr. Hopson proceeded to pull many a rabbit from his fecund hat. Though Wall Street has long ceased to be astonished...
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