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Portland General Electric Co. - $1,000 Utility Specimen Bond

Inv# SE2232A   Specimen Bond
Portland General Electric Co. - $1,000 Utility Specimen Bond
State(s): Oregon

9 7/8% Specimen Bond printed by American Bank Note Company. Portland General Electric (PGE) is a Fortune 1000 public utility based in Portland, Oregon. It distributes electricity to customers in parts of Multnomah, Clackamas, Marion, Yamhill, Washington, and Polk counties - 44% of the inhabitants of Oregon. Founded in 1888 as the Willamette Falls Electric Company, the company has been an independent company for most of its existence, though was briefly owned by the Houston-based Enron Corporation from 1997 until 2006 when Enron divested itself of PGE during its bankruptcy. PGE produces and purchases energy primarily from coal and natural gas plants, as well as hydroelectric power from dams on the Clackamas, Willamette and Deschutes rivers. Between 1976 and 1993, PGE operated Trojan, the only nuclear power plant in Oregon. Trojan was the subject of three Oregon initiatives to shut it down. The initiatives failed, but the company elected to close the plant twenty years early.

The utility was founded in 1888 by Parker F. Morey and Edward L. Eastham as Willamette Falls Electric Company. On June 3, 1889 it sent power generated by one of four brush arc light dynamos at Willamette Falls over a 14-mile electric power transmission line to Portland, the first US power plant to do so. On August 6, 1892, Morey, Frederick Van Voorhies Holman, and Henry Failing formed the Portland General Electric Company. It was funded by General Electric and the investment arm of Old Colony Trust, with $4.25 million in capital. The newly formed PGE Company purchased Willamette Falls Electric and the Albina Light & Water Company in 1892. Read more at https://en.wikipedia.org/wiki/Portland_General_Electric

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Condition: Excellent

Stock and Bond Specimens are made and usually retained by a printer as a record of the contract with a client, generally with manuscript contract notes such as the quantity printed. Specimens are sometimes produced for use by the printing company's sales team as examples of the firms products. These are usually marked "Specimen" and have no serial numbers.

Item ordered may not be exact piece shown. All original and authentic.
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