North American Light and Power Company
| Company type | Holding company |
|---|---|
| Industry | Utilities |
| Founded | 1916 |
| Founder | Clement Studebaker, Jr. |
| Defunct | 1946 |
| Fate | Dissolved by the U.S. Securities and Exchange Commission |
| Headquarters | South Bend, Indiana , United States |
Key people | Clement Studebaker, Jr. (President from 1916) |
| Parent | North American Company |
The North American Light and Power Company functioned as a utility holding firm headquartered in South Bend, Indiana. From 1916 onward, its presidency was held by Clement Studebaker, Jr., heir to the family renowned for the Studebaker automobile enterprise. This company operated as a key subsidiary under the umbrella of the North American Company until the conglomerate was dismantled in the 1940s by the U.S. Securities and Exchange Commission (SEC).
History
Clement Studebaker, Jr. (1871–1932), offspring of Clement Studebaker (1831–1901), the notable carriage and automobile pioneer, occupied several executive positions within both the family’s ventures and affiliated businesses.
In 1911, the Studebaker siblings combined forces with Detroit’s Everitt-Metzker-Flanders Company, resulting in the creation of the Studebaker Corporation. Prior to establishing the publicly listed North American Light and Power Company in 1916—with stock certificates produced by the American Banknote Company—Clement Studebaker, Jr. had been Vice President at E-M-F.
His leadership roles extended to serving as President and Chairman of the Illinois Power and Light Company along with its subsidiary, the Illinois Traction Company, in addition to acting as Treasurer for the Chicago South Shore and South Bend Railroad.
North American Company
The North American Company, which was once part of the Dow Jones Industrial Average, retained control over North American Light and Power for ten years following Clement Studebaker, Jr.’s passing. By 1940, this entity had expanded into a $2.3 billion holding corporation overseeing a hierarchical structure of 80 companies. Among its ten significant direct subsidiaries, North American Light and Power ranked as one of three main holding companies.
Following a United States Supreme Court decision on April 1, 1946, the SEC compelled the dissolution of North American Company.