Consumers Power Company
Nicely engraved antique bond certificate from the Consumers Power Company dating back to the 1970's and 1980's. This document, which contains the printed signatures of the company Chairman of the Board/President and Secretary was printed by the American Bank Note Company or the Security-Columbian Bank Note Company, and measures approximately 12" (w) by 8" (h).
The certificate's vignette features a map of Michigan, Lake Erie, Lake Huron and Lake Michigan flanked by a pair of allegorical figures.
You will receive the exact certificate pictured.
This company was originally founded in 1886 as Commonwealth Power Company by William A. Foote, who was originally tasked to install electric lighting in downtown Jackson, Michigan. After a series of acquisitions and mergers involving other local electric, gas, and trolley companies which were properties of W.A. Foote, as well as Anton G. Hodenpyl and Henry. D. Walbridge, the company incorporated as Consumers Power Company in 1910 in Maine. It became part of the utility holding conglomerate Commonwealth and Southern, which held utilities in 10 other states.
In 1968, Consumers Power began construction of a nuclear power plant in Midland, Michigan, primarily for the Dow Chemical Company. However, construction issues caused delays and increased costs. The Three Mile Island accident in 1979 resulted in a massive change in nuclear regulatory requirements and system redesign. When it was revealed the containment buildings were settling and foundation cracks were discovered, Dow cancelled their contract with Consumers Power, and the project was abandoned in 1984. The $4.1 billion investment nearly bankrupted Consumers Power. However, in 1985, Consumers Power formed a partnership with eight other companies to convert Midland's abandoned nuclear plant into a natural gas-fired power plant. Transformation of the plant began in 1986 and was completed at a cost of $500 million. The Midland Cogeneration Venture began producing power in 1991 and that success restored faith in Consumers Power.