Insull, << IHN suhl, >> Samuel (1859-1938), was an American public utilities executive. During the 1920’s, he dominated the nation’s public utilities by means of holding companies.
Insull was born in London on Nov. 11, 1859. He moved to the United States in 1881, where he became the American inventor Thomas Edison’s personal secretary. Insull became second vice president of Edison General Electric Company by 1889. He later managed the firm’s Chicago region. By 1907, his Commonwealth Edison Company had defeated all serious competition in the area. He formed a $2-billion Middle West Utilities in 1912.
Three of Insull’s companies failed during the Great Depression of the 1930’s, and he fled to Greece. He was brought to trial three times in 1934 and 1935 in the United States on charges of mail fraud, embezzlement, and violations of the bankruptcy act. He was acquitted each time. But his reputation had been ruined. Insull retired to Europe and died in Paris on July 16, 1938.
