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Insull's innovative financial and operational strategies made the 1920s the heyday of his success. Three Insull companies — Commonwealth Edison; Peoples Gas, Light and Coke; and Public Service of Northern Illinois — each earned more than $175 million annually. Middle West and several hundred subsidiaries were worth $1.2 billion. All totaled, Insull companies were worth nearly $3 billion, had more than one million stockholders, served four million customers, and produced as much electricity and gas as any entire nation on earth other than the United States. Insull's personal fortune was $150 million in 1929. His prestige and power in the United States were matched only by other industrialists of the caliber of Henry Ford or J. P. Morgan. Yet he was about to suffer a devastating series of attacks that would make him one of the most vilified individuals in the nation.
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This section contains 140 words (approx. 1 page at 300 words per page) |
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