Substituting the new' slave —elec-
tricity—for the former sweat and
groan of human labor also has a pro
found business significance. It gives
"'Oman more leisure, and an opportu
nity to acquire new luxuries and cul
tural experiences. Specifically, the
present clamor for things electrical
means that the current demand on
the part of American consumers is
larger than ever before in history,
and is growing at the rate of 15 per
cent a year. That is the explanation
of the present unprecedented pros
perity of well managed electric light
and power enterprises. It indicates
why the investment status of public
utility securities has improved in
spectacular manner. Three Common
wealths have recently for the first
time made public utility bonds of the
best type legal investments for sav
ings banks and other trust funds, and
another is seriously considering tak
ing the same step.
Making Over National Life.
As Mr. 59nan sees it, push-button
housekeeping is making over the
American national life, giving our
people far more comforts and con
veniences than were ever before en
joyed by the masses. Electricity re
places servants at a time when im
migration restrictions make house
workers scarce. The next great,
spurt, according tn Mr. Sloan, will be
in the popularization of refrigeration
machines. The great need, he says,
is a Ford who can get the price down.
Mr. Sloan figures that if the electric
ice box is adopted by all present con
sumers of electricity the demand for
power In the homes will be almost
doubled.
Air. Sloan's company has grown
rapidly in earnings since lie took
charge six years ago. He has already
voluntarily given the customers one
rale decrease, and promises another!
as soon ns sufficient economies can be
i'nt reduced.
