Business: Crumbled Commonwealths

Far-flung is the domain of American Commonwealths Power Corp., great public utility holding company. In the U. S. its operated properties serve 399 communities in 26 States. In Canada its system serves 250,100 people in three Provinces. Its gross revenues have been running at the rate of $26,000,000 per year with $2.800,000 left for the common stock. But last week Commonwealths, with $200,000,000 in assets, went into receivership.

Immediate cause for the receivership . was a $3,000,000 short-term loan maturing Jan. 2. Holders of the note Were...

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