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IN RE GREAT LAKES UTILITIES CORPORATION

No. 1068.

16 F.Supp. 1005 (1936)

In re GREAT LAKES UTILITIES CORPORATION.

District Court, D. Delaware.

November 6, 1936.

Attorney(s) appearing for the Case

William H. Button, of New York City, for trustee.

Stewart Lynch (of Biggs, Biggs & Lynch), of Wilmington, Del., for Great Lakes Utilities Corporation, debtor.

Hugh M. Morris and Edwin D. Steel, both of Wilmington, Del., for trustees of National Public Utilities Corporation.

Josiah Marvel, Jr. (of Marvel, Morford, Ward & Logan), of Wilmington, Del., for William W. Battles et al., Reorganization Committee for National Public Utilities Corporation.

Reuben Satterthwaite, Jr. (of Satterthwaite & Foulk), of Wilmington, Del., for First Lien Collateral Trust Gold 5½ per cent. Bondholders Committee of Great Lakes Utilities Corporation.

E. Ennalls Berl (of Ward & Gray), of Wilmington, Del., for Albert E. Peirce, stockholder of debtor.

NIELDS, District Judge.

The debtor is a public utility holding company. Substantially all of its common stock is held by National Public Utilities Corporation, another public utility holding company. The debtor owns all the capital stock of ten subsidiaries supplying gas in twenty-five communities in the states of Virginia, Ohio, Michigan, Illinois, Iowa, and South Dakota. The annual net earnings are approximately $100,000, about sufficient to pay the annual interest...

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