The North American Light and Power Company was a utility holding company formed in

South Bend, Indiana South Bend is a city in and the county seat of St. Joseph County, Indiana, St. Joseph County, Indiana, on the St. Joseph River (Lake Michigan), St. Joseph River near its southernmost bend, from which it derives its name. As of the 2020 United S ...

and run since 1916 by its president, Clement Studebaker, Jr., of the family famous for the

Studebaker Studebaker was an American wagon and automobile manufacturer based in South Bend, Indiana, with a building at 1600 Broadway, Times Square, Midtown Manhattan, New York City. Founded in 1852 and incorporated in 1868 as the Studebaker Brothers M ...

automobiles.North American Light and Power Company 1916 - signed by Clement Studebaker
Scripophily.com 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 The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market ...

(SEC).

History

Clement Studebaker, Jr. (1871–1932) was born the son of

Clement Studebaker Clement Studebaker (March 12, 1831 – November 27, 1901) was an American wagon and carriage manufacturer. With his brother Henry, he co-founded the H & C Studebaker Company, precursor of the Studebaker Corporation, which built Pennsylvania-Germ ...

(1831–1901), the carriage and automobile manufacturer of

. In 1911, the company founded by the Studebaker brothers joined forces with Everitt-Metzker-Flanders Company of Detroit to form the

Studebaker Corporation Studebaker was an American wagon and automobile manufacturer based in South Bend, Indiana, with a building at 1600 Broadway, Times Square, Midtown Manhattan, New York City. Founded in 1852 and incorporated in 1868 as the Studebaker Brothers Ma ...

. In one of his several executive positions, Clement Studebaker, Jr. served as Vice President of the E-M-F Company. 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 ABCorp is an American corporation providing contract manufacturing and related services to the authentication, payment and secure access business sectors. Its history dates back to 1795 as a secure engraver and printer, and assisting the newl ...

. 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 Illinois ( ) is a U.S. state, state in the Midwestern United States, Midwestern United States. Its largest metropolitan areas include the Chicago metropolitan area, and the Metro East section, of Greater St. Louis. Other smaller metropolita ...

), the

South Bend Watch Company The South Bend Watch Company, a manufacturing company of pocket watches, was based in South Bend, Indiana. History The assets of the bankrupt Columbus Watch Company of Columbus, Ohio, were purchased by two brothers from South Bend, Indiana, in 19 ...

, and as Treasurer of the

Chicago South Shore and South Bend Railroad The Chicago South Shore and South Bend Railroad , also known as the South Shore Line, is a Class III freight railroad operating between Chicago, Illinois, and South Bend, Indiana. The railroad serves as a link between Class I railroads and loc ...

North American Company

North American Company had once been one of the original stocks in the

Dow Jones Industrial Average The Dow Jones Industrial Average (DJIA), Dow Jones, or simply the Dow (), is a stock market index of 30 prominent companies listed on stock exchanges in the United States. The DJIA is one of the oldest and most commonly followed equity inde ...

.Jeremy J. Siegel, ''

Stocks for the Long Run ''Stocks for the Long Run'' is a book on investing by Jeremy Siegel. Its first edition was released in 1994. Its fifth edition was released on January 7, 2014. According to Pablo Galarza of ''Money'', "His 1994 book ''Stocks for the Long Run'' se ...

'', McGraw-Hill, Second Edition, 1998, North American Light and Power remained under the ownership of North American Company for the next decade after Clement's death, as a major subsidiary holding company of other lines. By 1940, North American Company had become a US$2.3 billion holding company heading up a pyramid of by then 80 companies. It controlled ten major direct subsidiaries in eight of which it owned at least 79%. North American Light and Power Company was by then one of the three major holding companies among the ten direct subsidiaries. FindLaw.com North American Company was broken up by the SEC, following the

United States Supreme Court The Supreme Court of the United States (SCOTUS) is the highest court in the federal judiciary of the United States. It has ultimate appellate jurisdiction over all U.S. federal court cases, and over state court cases that involve a point o ...

decision of April 1, 1946.

References

{{Reflist Holding companies established in 1916 Companies based in Indiana Holding companies of the United States Studebaker American companies established in 1916 Energy companies established in 1916 American companies disestablished in 1946 Holding companies disestablished in 1946