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MATTER OF NEW YORK WATER SERV. CORP. v. PUB. SERV. COMM'N

72 A.D.2d 841 (1979)

In the Matter of New York Water Service Corp., Petitioner, v. Public Service Commission, Respondent

Appellate Division of the Supreme Court of the State of New York, Third Department.

November 8, 1979

Petitioner, New York Water Service Corporation (NYWS), is a wholly owned subsidiary of Utilities and Industries Corporation (U & I), a holding company which owns or controls a variety of businesses. Neither U & I nor any of its subsidiaries, other than NYWS, are regulated industries. While NYWS is a profitable enterprise and would normally incur liability for Federal income tax, U & I has reported significant losses for several years. When filing consolidated...

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