UTILITIES DIVIDED ON SEC REGULATION; Some Prepare to Step Into Line, While Others Await Final Legal Tests EYE BOND AND SHARE CASE Hold-Outs Pin Last Hopes on 'Death Sentence' Fight--Cooperation Also is in the Air
With the gradual crumbling of utility litigation against the regulatory, and at times competitive, measures inaugurated in the last few years by the New Deal, the $12,000,000,000 electric power and light industry faces 1938 with many shattered illusions.