Eastern Capital Buys Out Local Utilities for $150,000
A massive deal consolidating Walla Walla and Pendleton energy interests signals a new era for regional power infrastructure.
September 1, if title papers are passed upon favorably, the Northwestern Gas and Electric company will assume control of the entire plant and property of the Walla Walla Gas and Electric company. The sale of the property, which has been under way for several months, was formally decided upon by the stockholders last night. The sale involves approximately $150,000. The property will be transferred to Isaac W. Anderson of Philadelphia, acting for capitalists interested in electrical schemes. Mr. Anderson noted the company plans to develop 5,000 horse power on the Walla Walla River to supply Walla Walla, Pendleton, Athena, Weston, and Milton.
“There is always a chance for a slip between the cup and the lip to use an old expression.”
This consolidation mirrors the historical trend of small, local utility providers being absorbed by larger regional entities. Today, regional energy grids continue this trend of centralization to serve growing municipal needs across state borders.
From readers
No comments yet. If you know something about this story — a correction, a family memory, a source — it belongs here.