Magazine content is available exclusively for TIME subscribers.Business: Dance of Power
Until 1929, J. P. Morgan & Co. refrained from touching public utilities. But that year they joined with the Bonbright and Drexel interests in the sponsorship of a new holding company to be called United Corp. This company, it was soon seen, would foster a community of interest between the big utility systems of the Atlantic Seaboard.
The ultimate destiny of United Corp. will be to hold at least working control of a giant utility system, closely coordinated if not actually merged. Last week by a huge barter United Corp. came one step...
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