John B. Kelaghan, Objector v. Securities and Exchange Commission

ALDRICH, Circuit Judge.

Blackstone Valley Gas and Electric Company, a Rhode Island corporation, is an operating company supplying gas and electricity to public consumers in Rhode Island. Ninety-nine per cent of its stock is held by Eastern Utilities Associates (EUA), a Massachusetts holding company, whose other assets consist of most of the stock of two Massachusetts operating companies which sell electricity, only, to the public. Each of the three operating companies owns approximately one-third of the stock of Montaup Electric Company, a producer of electric power from which they obtain most…