Chicago District Electric Generating Corporation

Chicago District Electric Generating Corporation
Item# 2132

Chicago District Electric Generating Corporation
This company was incorporated in the state of Indiana and was part of the Insull family’s conglomerate of electric and railway companies.

Samuel Insull traveled to the United States to head Thomas Edison's Construction Company. By 1892, he was president of the Chicago Edison Company and amassed a utilities empire across 30 states under the two major holding companies - Insull Utility Investments and Corporation Securities Company of Chicago. When the stock market crashed in 1929, Insull had to turn over Insull Utility Investments to his creditors. Resigning from 60 corporations and facing an indictment, Insull left the country. Although he was acquitted of embezzlement, fraud, and violation of the Bankruptcy Act, Insull became an example of the corruption and fraud which contributed to the Great Depression. The revelation of corporate duplicity brought to light during the Insull investigations led to a public outcry for reform and helped to assure the creation of the Tennessee Valley Authority and the Rural Electrification Administration.

Certificate: Cumulative Preferred Stock, issued in the 1930’s

Printer: Security Bank Note Company

Dimensions: 7 1/2” (h) x 11” (w)

State: IL-Illinois

Subject Matter: Utility Companies | Electric Companies | Scandals and Collapses

Vignette Topic(s): Allegorical Featured | Dynamo Featured | Power Plant Featured

Condition: Vertical fold lines, punch hole and stamp cancels in signature areas and body, staining and wrinkling from moisture.

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