The Electric Bond and Share Company was originally a holding company

Holding company

A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...

 that sold securities of electric utilities. It was created by General Electric

General Electric

General Electric Company , or GE, is an American multinational conglomerate corporation incorporated in Schenectady, New York and headquartered in Fairfield, Connecticut, United States...

 in 1905. The company was restructured after the Public Utility Holding Company Act of 1935

Public Utility Holding Company Act of 1935

The Public Utility Holding Company Act of 1935 , , also known as the Wheeler-Rayburn Act, was a law that was passed by the United States Congress to facilitate regulation of electric utilities, by either limiting their operations to a single state, and thus subjecting them to effective state...

. Later known as EBASCO Services, it provided engineering consulting and construction services. Among other projects EBASCO designed nuclear power plants. EBASCO was sold to Raytheon

Raytheon

Raytheon Company is a major American defense contractor and industrial corporation with core manufacturing concentrations in weapons and military and commercial electronics. It was previously involved in corporate and special-mission aircraft until early 2007...

in 1993 and became part of a Raytheon subsidiary, United Engineers and Constructors.