Okay, I know something about this, and I can tell you that 58.73 Hz on a large 60 Hz synchronous system is very unlikely, and would represent a dire emergency for the system operator.
I don’t know exactly how it’s managed in North America, but in Europe it works something like this:
Primary regulation (of frequency) is provided automatically by generating units, which modulate their power output up and down slightly to compensate for small variations (+/-0.2 Hz) in the system frequency. The timescale is of the order of 15 seconds.
Secondary regulation involves generating units being instructed to increase or decrease their power output more substantially, to compensate for a larger frequency excursion. The timescale here is approximately 1.5 minutes.
If this did not happen, a sudden drop in frequency (caused, for example, by the loss of a major generating unit) can cause other generating units in turn to trip, leading to a runaway effect that in the worst case can leave country-sized areas blacked out for long periods. To prevent this, decisive action in the first few seconds is critical.
About the time service, every hour or so, the system operator will adjust the system frequency to try to achieve exactly 50 Hz on average over the day.
And yes, it is still possible to synchronise a generator of any size using light-bulbs without making the earth move, and shift managers still know how to do that.