Word: 173rd
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Dates: during 1940-1949
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Last week, SEC did its own little bit toward complication. Approved by SEC was a 173rd subsidiary for lame Associated, authorized was a $32,000,000 issue of bonds, notes and stock to form Virginia Public Service Generating Co., seven layers below Associated's teetering top. SEC's apology for adding to an "already overly complicated" system: new customers, including a torpedo factory, required additional service, and none of the Associated Gas tribe was strong enough to raise money for new generating capacity, so a new member had to be created...