The North American Light and Power Company was a utility holding company formed in South Bend, Indiana and run since 1916 by its president, Clement Studebaker, Jr., of the family famous for the Studebaker automobiles.[1] The utility company remained a major subsidiary of the North American Company, until that conglomerate's 1940s breakup by the U.S. Securities and Exchange Commission (SEC).
History
Clement Studebaker, Jr. (1871–1932) was born the son of Clement Studebaker (1831–1901), the carriage and automobile manufacturer of South Bend, Indiana.[1]
In 1911, the company founded by the Studebaker brothers joined forces with Everitt-Metzker-Flanders Company of Detroit to form the Studebaker Corporation.[2] In one of his several executive positions, Clement Studebaker, Jr. served as Vice President of the E-M-F Company.[1]
By 1916 Clement Studebaker, Jr. had formed the publicly traded North American Light and Power Company, and issued stock, with certificates printed by the American Banknote Company.[1]
Clement Studebaker, Jr. also served as President and Chairman of the Board of the Illinois Power and Light Company (and of its subsidiary, the Illinois Traction Company), the South Bend Watch Company, and as Treasurer of the
References
- North American Light and Power Company 1916 - signed by Clement Studebaker, Scripophily.com^
- The History of the E-M-F company retrieved 2007-08-23^
- Jeremy J. Siegel, Stocks for the Long Run, McGraw-Hill, Second Edition, 1998, ISBN 0-07-058043-X^