Mr. Joe Robertson, manager of the North Carolina Public Service Company at Salisbury and Concord, was in the city this morning and give out the following statement:
C.B. Hole, President of the Public Service Company, on behalf of his brothers and their associates, announced this morning that they had sold a large interest in their holding in that company to the General Gas & Electric Corporation of 50 Pine Street, New York, who will hereafter be associated with them, both in the operating and financing of the company.
The Holes have been intimately connected with the Public Service Company since its organization in 1909, when it took over the old Greensboro Electric Company property, and later added the utility business of High Point, Salisbury, Spencer, East Spencer and Concord. In 1916, Mr. Hole and his brothers increased their holding in the company and came to Greensboro to make their home.
The Holes and their associates, however, are retaining a substantial interest in the Company, and changes, if any, in the personnel of the company, will be only those necessary to take care of the rapidly increasing business as extensions and improvements are made to take care of the growth of the several communities in which the company operates.
Mr. W.S. Barstow, the head of W.S. Barstow & Company, and President of the General Gass and Electric Corporation, one of the largest Public Utility concerns in the East, has had many years’ experience in all fields of public service development and management. Starting with Mr. Thomas A. Edison in the early days, he became electrical engineer and managing head of the Edison Company of Brooklyn in 1889, and after 12 years in this position resigned to enter the public utility field as an independent operator.
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From the front page of the Concord Times, Monday, Feb. 4, 1924
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