Documentary History of American Water-works

Introduction Historical Background Chronology Geography Biography Technology Ownership and Financing General Bibliography

Ownership and Financing of American Water Works
Federal Water Service Corporation

Federal Water Service Corporation


The Federal Water Service Corporation was incorporated in 1926 by Christopher Chenery. x

In 1937 Federal Water Service Corporation, hereafter called "Federal," a Delaware holding company, owning securities of subsidiaries operating water, gas, electric and other properties, filed a plan of voluntary reorganization with the Commission under 7 and 11 of the Holding Company Act of 1935. The plan contemplated simplification of the corporate structure and the elimination of existing capital deficits by a reduction of capital which would permit Federal to resume payment of dividends. Subsequently, two additional plans were filed, but were ultimately withdrawn largely on objection by the Commission's staff.

SEC v. Chenery Corp. (1943)

SEC v. Chenery Corp. (1947)


The Federal Water Service Corporation and a subsidiary Federal Water and Gas Corporation was held to be in violation of the Public Utilities Company Holding Act by the Securities and Exchange Commission and ordered to dispose of its various holdings.  This ruling was upheld by the Supreme Court in 1947 and ownership of the Scranton-Spring Brook Water Company passed to local capitalists, who renamed the company Pennsylvania Gas and Water Company on October 1, 1960.

The Pennsylvania-American Water Company, a subsidiary of American Water Works Company, Inc. acquired the regulated water assets of the Pennsylvania Gas and Water Company on February 16, 1996 for $409 million.

Filing Date     Name Type     Entity Name
NOV 19, 1974     Actual     NEW YORK WATER SERVICE CORPORATION
MAY 19, 1960     Actual     UTILITIES & INDUSTRIES CORP.
DEC 21, 1926     Actual     NEW YORK WATER SERVICE CORPORATION
FEB 28, 1888     Actual     WOODHAVEN WATER SUPPLY COMPANY

As of May 16, 2006, New York Water Service Corporation was acquired by Aqua New York, Inc. New York Water Service Corporation supplies drinking water to residents in Merrick, Bellmore, Wantagh, Seaford, and East Massapequa communities. The company was founded in 1888 and is based in New York.




References
18

1943 Securities and Exchange Commission v. Chenery Corporation, 318 U.S. 80 (1943), is a United States Supreme Court case. It is often referred to as Chenery I,

1946 Chenery Corp. v. Securities and Exchange Com'n 154 F.2d 6 (D.C. Cir. 1946)

1947 Securities and Exchange Commission v. Chenery Corporation, 332 U.S. 194 (1947), is a United States Supreme Court case. It is often referred to as Chenery II.

1951 In Re Federal Water & Gas Corp. et al. Appeal of Chenery Corp. et al, 188 F.2d 100 (3d Cir. 1951)







2019 Morris A. Pierce