Wendell Willkie accepting Check from David E. Lilienthal

(Original Caption) New York: Down Payment $44,728,300. The consummation of one of the biggest power deals in history is shown here as Wendell Willkie (Left) accepts a check for $44,728,300 from David E. Lilienthal as first payment by the Tennessee Valley Authority for the Tennessee Electric Power Company purchased by TVA from Commonwealth and Southern Corporation for the sum of $78,600,000. The payment was made at the First National Bank of New York yesterday. Willkie is President of the Commonwealth and Southern Corporation. Lilienthal is Power Director of TVA. At right is L. Wilhot, background in light suit, E. E. Nelson, handing over of the check turned the great Tennessee utility properties over to public ownership as represented by TVA.