Virginia Electric and Power Company
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Product Details
CompanyVirginia Electric and Power Company
Certificate Type
Common Stock
Date Issued
1950's
Canceled
Yes
Printer
American Bank Note Company
Signatures
Machine printed
Approximate Size
12" (w) x 8" (h)
Images
Representative of the piece you will receive
Guaranteed Authentic
Yes
Additional Details
NA
Historical Context
Two of the founders of Dominion Resources' predecessor were George Washington and James Madison. In 1781 the Virginia General Assembly established the Appomattox Trustees to promote navigation on the Appomattox River. In 1795, the trustees (including Washington and Madison) formed the Upper Appomattox Company canal operation to secure water rights to the river. The company took over several hydroelectric plants on the river and added a steam power facility in 1888. Frank Jay Gould bought a successor company in 1909 through his Virginia Railway and Power Company (VR&P). The firm purchased several electric streetcar lines and electric and gas utilities the following year.
VR&P was acquired by New York engineering firm Stone & Webster in 1925. Stone and Webster placed it under a new holding company, Engineers Public Service (EPS). VR&P's name was changed to Virginia Electric and Power Company (VEPCO), and the firm bought several utilities in North Carolina. During the 1930s the automobile and the Depression put the company's trolley lines out of business.
In 1940 the government sued EPS under the Public Utility Holding Company Act of 1935. This in effect triggered an era of regulated utility monopolies. EPS was forced to divest itself of everything but VEPCO. However, VEPCO soon doubled its service territory by merging with the Virginia Public Service Company. The number of electric customers increased by about half from 1950 to 1957, so the company added new plants to keep up with demand. It also built the world's first extra-high-voltage transmission system.
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Additional Information
Certificates carry no value on any of today's financial indexes and no transfer of ownership is implied. All items offered are collectible in nature only. So, you can frame them, but you can't cash them in!
All of our pieces are original - we do not sell reproductions. If you ever find out that one of our pieces is not authentic, you may return it for a full refund of the purchase price and any associated shipping charges.