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Businesses & industryFour Utility Names, One New Company
Reports of a utility combination in 1899 reveal business consolidation alongside plans that still lay in the future.
Some details remain uncertainIn November 1899, reporting described a combination of four local utility concerns: Edison Electric Illuminating, Shamokin Arc, Gas Light, and Electric Light and Power. The new enterprise was presented as Light, Heat and Power, with McConnel named as president.
The announced financing included $250,000 in stock and an equal amount in 30-year bonds at five percent. Those figures describe the reported corporate arrangement. They should not be mistaken for a measurement of completed construction or the value of every working piece of equipment.
Coverage also discussed a line to Springfield. The extension was still a proposal. The account captures a moment when utility businesses were being combined and future service was being imagined. It does not, by itself, establish an exact legal incorporation date or the completion of every announced plan.