Nathan Jones had gone from a 23-year-old small town electrician to a regional utility magnate. He built a big company and made a fortune. He was a philanthropist. He had a model dairy farm and a stable of show horses and a private airplane.
Are you sitting down? Did you hear about Ralph Jarvis? He’s not working for Nathan Jones.
In December 1930, a month after they returned from their trip to Longview, Ralph and Chleo Jarvis bought a farm on the southwest edge of Salina.
Here’s the story of another big deal in 1930. In October, a celebration was planned for the grand opening of the gas system in the city of Longview, Washington.
This was a high-profile utility for the Public Utility Investment Company, and the company was going all out for the grand opening.
The market had crashed in October 1929. But Nathan Jones’ empire had ambitious growth plans.
When the new year of 1930 dawned, there were big deals in the works.
Continue readingThe stock market soared throughout the Roaring Twenties. In August 1921, the Dow Jones Industrial Average was 63. By September 3, 1929, the Dow had risen to 381, an increase of more than 600%.
And then it crashed.
Continue readingIn 1928 and 1929, Public Utility Investment Company continued to thrive, growing even faster than before. Acquisitions increased several hundred percent during these two years.
Ralph and Chleo Jarvis settled into a new way of life in Salina. They were in a home of their own.
Acquisitions were booming. Investment sales were booming. Home office staff was booming.
Public Utility Investment Company invested in a much larger office. It was on the second floor of businesses along Santa Fe Avenue, the main street in Salina.
Nathan Jones had organized The Public Utility Investment Company (PUIC) in 1924. It was used to purchase the assets of States Power Company in Oklahoma, and then to sell the assets to the newly formed United Power Company.
Family Nibbles 