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Eastern Gas and Fuel Associates

$6.00 $3.97

SKU: 3177gy
Product Details

Nicely engraved antique stock certificate from the Eastern Gas and Fuel Associates dating back to the 1970's. This document, which carries the printed signatures of the company President/Chairman and Treasurer, was printed by the American Bank Note Company, and measures approximately 12" (w) by 8" (h).

 

The certificate's detailed vignette features a group of three men surrounded by a mining operation, gas storage tanks, a tugboat and a barge.

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

    Eastern Enterprises was founded in 1929 when the Massachusetts Gas Company and some units of Koppers Company of Pittsburgh formed a voluntary association under the name Eastern Gas and Fuel Associates. Koppers, which was primarily engaged in the heavy construction business, then and for a number of years thereafter maintained controlling interest in the new company. Koppers built coke, steel, and chemical plants and considered Eastern to be a logical addition to its numerous enterprises.

    Despite the fact that the new company was formed barely 100 days before the great stock market crash, Eastern Gas and Fuel Associates did well initially, selling fuel to the rail, steel, and shipping industries, as well as to electric utilities. It acquired several area gas companies and integrated them with Boston Consolidated Gas Company (now Boston Gas), combined Eastern and Koppers coal mines, and enlarged and modernized the Everett, Massachusetts, coke plant, which sold its coke oven gas as home heating and industrial fuel to Boston Gas. Other coke plants did the same with utilities in New Haven and Philadelphia.

    Eastern split from Koppers in 1950 to become an independent company at a time when the postwar economy was expanding rapidly.

    A number of other changes were in store for Eastern during the 1970s. In March 1971 Eastern acquired the Chotin Transportation Co., an inland waterways barge line; at the same time, the company sold its fleet of coastal ships. In January 1972 Eastern acquired by statutory merger three small gas companies serving 25,000 customers in 15 eastern and central Massachusetts towns for $5.7 million. The following year, Boston Gas marked its 150th anniversary by acquiring for $28 million four more companies with a total of 175,000 customers in 28 communities north of Boston. Two more subsidiaries were created in 1978 to develop coal ventures and participate in oil and gas production in the Midwest and the West.