In 1927 the Arrow Electric Company becomes Arrow-Hart & Hegeman, Incorporated. This was shortly after the death of the principal stockholder who was also the president of the Hart & Hegeman Manufacturing Company. The major interests in that company got into touch with those controlling Arrow, and, after some negotiation, it was agreed that economies could be effected if the business of both were brought under common control. In lieu of the original program of distribution of the shares owned by the holding company to its stockholders, the shares of Arrow were transferred to a new company, called the Arrow Manufacturing Company, and those of Hart & Hegeman to another new company, known as the H. & H. Electric Company, against the issue of all of the shares of these companies respectively. The stock so to be issued by these two new holding companies was, by the direction of the original holding company, issued directly to its stockholders. As soon as this transfer of all its assets had been made to the two new holding companies by the old one, the latter by corporate action dissolved. Thereafter, pursuant to directors' action, the stockholders, preferred and common, of the four companies having an interest in the assets (Arrow, Hart & Hegeman, Arrow Manufacturing Company, and the H. & H. Electric Company), approved a merger agreement whereby the petitioner, the Arrow- Hart & Hegeman Electric Company, was formed, which directly owned in its own right all of the assets formerly belonging to Arrow and to Hart & Hegeman. These transactions were consummated on or prior to December 31, 1928, except that the dissolution of the first holding company did not become final until April 11, 1929; the law of Connecticut providing that a final certificate of dissolution should not issue until four months after the filing of the resolution for dissolution.
(ARROW-HART & HEGEMAN ELECTRIC CO. v. FEDERAL TRADE COMMISSION, 291 U.S. 587 291 U.S. 587 FEDERAL TRADE COMMISSION No. 3
AH&H was acquired by Cooper Industries and is the brand name of Cooper Industries wiring devices. AH&H was the electrical supplier to DeWalt Products Co.
for many years, supplying starters, contactors, switches and other wiring devices.
Information Sources
- Thanks to Scott McAuley for this information