Proceedings of the second National Conservation Congress at Saint Paul…
“ Electric equipment is usually supplied by one of a few great equipment concerns and frequently paid for, at least in part, in the securities of the proposed project. Thus the equipment company acquires interests in widely separated power and light concerns.Take a single example, the General Electric Company, the most powerful electric equipment concern in the world. Men who are officers or directors of the General Electric Company, or of its three wholly controlled subsidiary companies, are also officers or directors in many other corporations. ”
