East Oregonian : E.O. (Pendleton, OR) 1888-current, 1912-03-16
Big Corporation at Seattle

The Stone & Webster MANAGEMENT
association, as already known. oper-
ates SO different corporations, with
more than 20 subsidiary concerns. The
water power companies under this
management control the street rail-
ways in five cities and towns electric
lighting plants in more than 25, and
gas plants in at least eight
The Electric Bond & Share COM
pany owns and operates the Portland
Gas & Coke company
The report continues:
In brief, in the country as a
whole, water power companies. or
companies affiliated with them. own
or control and operate street railway.
in no less than III cities and towns
in the United States, electric lighting
plants in $50 cities and towns and
gas plants in 113 cities and towns
These companies. moreover. supply
power to municipal lighting plants in
considerable number of cities and
towns Many of these are among the
most important municipalities in the
states involved Furthermore in
many cities and towns in the United
railways, electric lighting and gas
plants-are controlled by water pow
er interests.
THE two largest and strongest in
terests in the water power fled
namely, the General Electric company
and the Stone & Webster interests.
show evidence of some degree of rela..
tionship. There are several water
power and other public service cor
porations under the management Of
the Stone & Webster Management as
sociation that have upon their boards
OF directors or upon the boards of di-
rectors of the companies controlling
them, men who are also found among
the directors of the General Electric
companies. The water power com
panies involved in this direct connec-
ton have total development of S4.-
700 horsepower. They include the
large water power interests and "a
number of street railway and light
ing companies in the Puget sound re-
gion.
Westinghouse Mixed. Too.
"The S. Morgan Smith. Westing-
house and Brady interests are con,
nected both through the ownership of
securities and through common direc-
tors. The Smith and Westinghouse
connection Is made through the At
lanta Water & Electric Power COM
Lany, and the connection between the
Westinghouse and Brady interests is
through Anthony n Brady. who is a
director in the Westinghouse Electric
& Manufacturing company.
Furthermore, connection between
the Brady, Westinghouse and General
Electric interests Is established
through representation on the direc-
torate of the Consolidated Gas, Elec-
trio Light & Power company of Balti-
more.
"The large group of waterpowers
in the lower peninsula of Michigan
which are practically dominated by
F. w. Clark & Co. and Hodenpyl and
Walbridge interests, are connected
through directorates with the Bangor
Railway & Electric company in
Maine. and other public service cor
porations controlled by the Hodenpyl
and Walbridge banking houses.
san Francisco Concerns Involved.
Another Internationally of vast
proportions Is made through the
United Railways Investment company,
which controls the United Railroads
and other properties at San Francisco,
Cal, and Pittsburg. Pa. General
Electric interests own some securities
in the Sierra C San Francisco Power
company controlled by the United
Railways Investment company, and
have representation on the board of
directors of the Sierra company and
also on the board of the United Rail-
ways of San Francisco. The United
Railways Investment company also
controls the Philadelphia company,
which. through subsidiaries, controls