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Consumers Power Company

$1.00

SKU: 2218or
Product Details

 

Nicely engraved antique bond certificate from the Consumers Power Company dating back to the 1960's, 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.

Images

The images presented are representative of the piece(s) you will receive. When representative images are presented for one of our offerings, you will receive a certificate in similar condition as the one pictured; however dating, denomination, certificate number and issuance details may vary.

    Historical Context

    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. 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.

    Commonwealth and Southern dissolved in 1946, leaving Consumers Power (and all other utility holdings) an independent company. After serving Michigan for more than 80 years, the company reincorporated in Michigan in 1968 and maintained their headquarters in Jackson, Michigan. Consumers operated the Big Rock Point Nuclear Power Plant in Charlevoix from 1962 to 1997 and built the Palisades Nuclear Plant near South Haven in 1971, which was sold to Entergy.

    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.