Panhandle Eastern Pipe Line Company
Panhandle Eastern Pipe Line Company
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|Company||Panhandle Eastern Pipe Line Company
|Certificate Type||Debenture Bond
|Printer||Security-Columbian Bank Note Company
12" (w) by 8" (h)
||Representative of the piece you will receive|
In November 1927, a group of entrepreneurs, most notably Frank Parrish, formed a partnership that eventually led to the creation of the Missouri-Kansas Pipe Line Corporation, commonly known as Mo-Kan. In 1929, Mo-Kan created a subsidiary called Interstate Pipe Line Company to construct a pipeline to the Midwest. In 1930, Parish and his partners began working with William G. Maguire, a successful entrepreneur, to promote and build that pipeline. Maguire convinced the partners to change the name of Interstate Pipe Line Company to Panhandle Eastern Pipe Line Company and to make Indianapolis the destination of their new pipeline. That pipeline would eventually run through and challenge the domains of Cities Service Company, Standard Oil of New Jersey, and the powerful Columbia Gas. Maguire, who later forced Parrish out, become the chairman and guiding force of PEPL until 1965. He transformed the company into an industry leader. The first major pipeline the company constructed was a 24-inch diameter pipeline stretching 860 miles from the Hugoton gas fields of southwest Kansas to the Illinois-Indiana border.
Texas Eastern arose out of World War II when German U-boats were devastating the U.S. merchant fleet and in particular the tanker fleet. The German submarines forced a dramatic decline in the number of barrels of oil the United States shipped to the industrial northeast and to Great Britain. The United States response the submarine threat was to build two oil pipelines to the northeast. The first line was the Big Inch, a 24-inch pipeline stretching from Longview, Texas to Norris City in southern Illinois. The second line was the Little Big Inch, a 20-inch pipeline running from the refineries in the area of Beaumont, Texas to Linden, New Jersey.
In 1947, the United States government needed to sell off the war assets, the largest of which were the Inch lines, and established a bidding process. In a controversial bid Texas Eastern, backed by the powerful Texas brothers of George and Herman Brown, placed the winning bid of $143,127,000. Soon, Texas Eastern converted the Inch lines to transport natural gas, which was rapidly growing sector of the energy industry. Eventually, Texas Eastern expanded into liquefied natural gas or LNG, North Sea oil and Houston real estate.
Panhandle Eastern changed its name to PanEnergy after absorbing Texas Eastern in 1989, but the company did not have a long life in that form. In 1996, Duke Power Company, an investor-owned utility with about 1.8 million customers, made a bid to purchase PanEnergy in a $7.7 billion deal that was consummated in April 1997. The combined companies then became known as Duke Energy Corp. with headquarters in Charlotte, North Carolina.
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.
Are the certificates offered on your site genuine or reproductions?All of the certificates you see on our site are genuine pieces, we do not sell any reproductions.
Are the certificates you sell negotiable on any of today's stock markets or indexes?
No. All of the pieces we sell are either canceled or obsolete and have collectible value only.
Are the images presented in your product listings of the exact piece I will receive?
It depends. We try to present images of the exact piece you will receive whenever possible. However, when we are offering quantities of a piece, this is impossible. Within every product page we detail whether or not you will be receiving the exact certificate listed, or if the image is a representative example of the one you will receive.
How will you ship my order and how much do you charge?
We ship all orders via the United States Postal Service. Most domestic orders are shipped via Ground Advantage. USPS International, Priority and Express Mail, UPS and DHL services are also available, and costs are calculated during checkout. Current charges may be reviewed here.
Can I return my purchase?
Absolutely. You may return any merchandise, for any reason, within 30 days of the purchase date for a full refund of the purchase price.
We guarantee all of our pieces to be authentic. If you ever determine that a piece is not authentic, it may be returned for a full refund of the purchase price as well as any associated shipping charges.
If your order exceeds $35, and the shipping address is within the United States, shipping via USPS Ground Advantage is FREE!
We make every effort to ship out all orders within 24 hours of receipt.
We ship the majority of orders via the USPS, with domestic orders using the Ground Advantage service.
Shipping is calculated during checkout. Upgraded services such as Priority and Express Mail, as well as UPS and DHL options, are also available.
As soon as your order is shipped you will receive your tracking information via email.
OVERSEAS ORDERS PLEASE NOTE THAT WE DECLARE FULL ORDER VALUE ON ALL SHIPMENTS. CUSTOMER IS RESPONSIBLE FOR ALL VAT/CUSTOMS CHARGES.
Our goal is to make sure every item you receive is exactly what you had in mind. If you not happy with your purchase, we’ll help you get it sorted in a timely and professional manner.
You can return anything we offer for an exchange, refund or store credit within 30 days of delivery. Return shipping costs may apply, and the item must be in its original condition and packaging.
Any shipping charges collected on the original order are not eligible for a refund.