Consolidated Edison Co of New York, Inc. - 1970's dated New York Utility Bond - Various Denominations
Inv# GB5019 Bond
Various Denominations Bond printed by American Bank Note Company . Lovely female figure with a globe and power company in background. Available in Lime Green, Green or Gray. Please specify color.
Con Edison, the Consolidated Edison Company of New York, Inc., traces its origins back to March 26, 1823, when the New York Gas Light Company was chartered to illuminate lower Manhattan with gas streetlights. Over the ensuing decades, numerous rival gas companies emerged, sparking intense competition. This rivalry culminated in the merger of six major firms on November 11, 1884, forming the Consolidated Gas Company of New York.
As Thomas Edison’s incandescent light bulb gained popularity, Con Edison shifted its focus from gas to electricity. By the early 20th century, the company had acquired Edison Illuminating Company and other electric and steam entities. By 1932, Con Edison had become the world’s largest provider of electrical service, prompting its official name change to Consolidated Edison Company of New York, Inc. in 1936 to reflect its primary emphasis on electric sales.
In the latter half of the 20th century, Con Edison faced significant challenges, including major blackouts in 1965 and 1977 and the substantial costs associated with maintaining the world’s most extensive underground energy delivery system. The 1990s marked a pivotal transition as the utility industry underwent deregulation. In response, Con Edison established a holding company in 1998 and divested most of its power-generating facilities to concentrate on energy transmission and distribution.
In recent years, Con Edison has made a concerted effort to embrace a clean energy future. The company has committed to creating a climate-resilient grid and achieving net-zero carbon emissions by 2040. As Con Edison celebrated its 200th anniversary in 2023, it remains a crucial pillar of the New York economy, serving approximately 10 million people across the city and Westchester County.
A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.
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