Monday, Oct. 03, 1927
A Larger Largest
The largest power pool of a fortnight ago, last week became a part of a larger largest power pool. A fortnight ago Thomas N. Carter of Public Service Gas & Electric Co. of New Jersey announced the merger of his company with Philadelphia Electric Co. and Pennsylvania & Light Co. (TIME, Sept. 26). Their transmission lines of 208 miles represented the largest linkage yet. Last week directors of the company of which Mr. Carter's is a subsubsidiary--United Gas Improvement*--agreed with directors of the Philadelphia Electric Co. (already a part of the earlier merger) to pool their power resources. Their lines will interlace between Philadelphia, New York, Boston, Buffalo, Trenton and Newark; will get current from hydro-electric establishments at Niagara Falls, at Conowingo (now building by Philadelphia Electric) and on the St. Lawrence River near Ogdensburg, N. Y. (planned by General Electric). Although physical properties of these companies will be as one, their financial fabric cannot be closely knit under present interpretations of anti-trust laws. Anticipating that Congress will discuss such power mergers, interested companies are putting into motion a vast machinery to explain to Congress and to the voters the powerman's attitude.
*United Gas Improvement controls Public Service Corporation of New Jersey, which controls Public Service Gas & Electric.