Utility Merger

In spite of dull 2,000,000-share stock market days last week some specialty stocks remained buoyantly active. Utilities, congenitally defiant of the financial laws of gravity, were particularly strong. In addition to the general potency of such words "as "superpower," "giant power," they were inspired by rumor of mergers in New York State utility companies. Over-the-counter houses were selling shares in the new company before its formation was officially announced. Parties to the merger, described as a Morgan-Schoellkopf-Carlisle union, were:

Buffalo, Niagara & Eastern Power Corp.: Schoellkopf property, largest U. S. power system, serving 500 cities and towns including Buffalo. Niagara Falls supplies most of its power. Jacob, Paul and Alfred Schoellkopf are Board Chairman, President and General Manager.

Northeastern Power Corp.: Carlisle property, serving many a community along Lake Ontario and the St. Lawrence. Chairman is F. L. Carlisle, President is H. E. Machold, New York State Republican leader. Jacob F. Jr. and Paul Schoellkopf are directors.

Mohawk Hudson Power Corp.: Serving Albany, Schenectady, Utica, Syracuse, many another New York city. Board Chairman is Charles S. Brewer; directorate includes Statistician Roger W. Babson, General Electric's Owen D. Young, also Messrs. Machold and Carlisle.