North American Company
From Wikipedia, the free encyclopedia
The North American Company was a holding company incorporated in New Jersey on June 14, 1890, and controlled by Henry Villard, to succeed to the assets and property of the Oregon and Transcontinental Company. It owned public utilities and public transport companies and was broken up in 1955, largely to comply with the Public Utility Holding Company Act of 1935.
Its headquarters were at 60 Broadway in Manhattan.
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[edit] Holdings
At some point during its existence, it owned substantial interests in:
- Cleveland Electric Illuminating Company
- Pacific Gas and Electric
- Capital Transit
- Potomac Electric Power Company
- Milwaukee Electric Railway and Light Company
- Detroit Edison
- Cincinnati Gas & Electric Company
- Union Light, Heat and Power of Covington, Kentucky
- Union Electric Company of St. Louis, Missouri
- Northern Natural Gas Company
- Butte Electric and Power Company
- Laclede Gas Company
- Edison Securities Corporation
- Wired Radio, Inc. (Muzak)
- West Kentucky Coal Company
- North American Edison Company
[edit] Dow Jones Industrial Average
North American's stock was one of the twelve component stocks of the May 1896 original Dow Jones Industrial Average, but it was replaced later that same year. In 1928, when the number of stocks comprising the DJIA was increased to 30, North American was re-added to the list but was replaced again in 1930. The two periods when it was a component were:
- May 26, 1896 – August 26, 1896, replaced by U. S. Cordage
- October 1, 1928 – January 29, 1930, replaced by Johns-Manville
