Public Utility District Number One of Stevens County, Wash. v. United States Securities and Exchange Commission

The petitioners, describing themselves as persons aggrieved, have filed their petition pursuant to § 24(a) of the Public Utility Holding Company Act of 1935, 15 U.S.C.A. § 79x, for a review by this court of an order of the United States Securities and Exchange Commission dated January 18, 1952, and entitled “Notice of and Order for Hearing with respect to Feasibility of Pro-; posed Sale of Stock of the Washington Water Power Company and Hearing Pursuant to Section 11(d) [15 U.S.C.A. § 79k(d)], with Respect to Plan for Distribution of such Stock”. The order in question directed that a hearing be held on January 28, 1952, upon what the Commission therein designated a “declaration” with respect to a proposed sale of the common stock of Washington Water Power Company by American Power & Light Company, a registered holding company, to the petitioner Public Utility Districts.

The order recited that the hearing should relate not only to the question whether “said declaration should be denied effectiveness”, but -also to the question whether the terms and provisions of an alternate plan for distribution of the Washington stock to the stockholders of American are fair and equitable and…