Dederick v. North American Co.

RIFKIND, District Judge.

Defendant, North American Light and Power Company, hereinafter called Light and Power, moved for judgment or, in the alternative, for a stay of the action pending the final determination by the Securities and Exchange Commission of proceedings pending before that Commission and instituted under the Public Utility Holding Company Act of 1935, 15 U.S.C.A. § 79 et seq. After argument the moving defendant filed an affidavit of its counsel asking that the prayer for the alternative relief be deemed eliminated from its application.

Defendant, the North American Company, has…