Consumers Power Co. Deal - Lehman Brothers Collection
Consumers Power Co.
|Company Deal||Consumers Power Company: sale of 561,517 shares of common stock|
|Transaction Type||Common Stock|
|Deal Description||Consumers Power Company used the net proceeds from this transaction for the acquisition of property, for the construction, completion, extension, or improvement of facilities, or for the improvement or maintenance of service, or to reimburse the company's treasury for expenditures made for such purposes. The company's construction program included the following projects: the construction of the new Justin R. Whiting steam-electric generating plant on Lake Erie in the southeastern corner of the state of Michigan, the installation of a seventh unit with nameplate rating of 135,000 kilowatts capacity at the John C. Weadock steam-electric generating plant near Bay City, and the construction of other additions to the property of the company in 1951 (miscellaneous electric production, electric power supply projects, electric transmission, electric distribution, gas transmission, gas distribution, heating, general, and miscellaneous additions).|
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