Big Utility Deal Reshapes Walla Walla Infrastructure
A major consolidation of power and transit interests moves forward as articles of incorporation are filed for a massive new utility holding company.
The work of formally transferring the stock of the Walla Walla Gas and Electric Company to Isaac W. Anderson was commenced this morning and is expected to be completed within a day or so. An average price of $10 above par was paid by Mr. Anderson. The new company has filed articles of incorporation with a capital stock of $650,000, divided into 6,500 shares. The corporation’s stated purpose is to acquire, construct, equip, and operate lines of street, suburban, and interurban railway, with the right to operate via electricity, steam, or cable, as well as to own parks and amusement grounds.
“The life of the corporation is placed at 50 years.”
Consolidation of utility monopolies was the hallmark of turn-of-the-century urban growth. Today, this push to integrate power generation with mass transit systems mirrors contemporary debates about municipal broadband and public versus private control of critical regional infrastructure.
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