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Virginia Electric and Power Company

$8.00

SKU: 2373
Product Details

Beautifully engraved antique stock certificate from the Virginia Electric and Power Company dating back to the 1950's. This document, which carries the printed signatures of the company President and Treasurer, was a printed by the American Bank Note Company, and measures approximately 12" (w) by 8" (h).

 

This certificate's intricate vignette features a topless male figure turning a gear.

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

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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