Today in Railroad History
August 28, 1935.
Congress passes the Public Utility Holding Company Act. Heralded as a consumer protection milestone, it also gives utilities a quick method to drop their traction systems. This becomes one of the nails in the coffin of streetcar and interurban railroads in the U.S.
Similarly, an unintended consequence of breaking up the movie production companies, and their having to sell off their theaters, was the decline of the center city movie palace.