Michigan Sugar Co. - Specimen Bond - Several Denominations Available
Inv# SE1120 Specimen Bond
Specimen Bond printed by Security-Columbian Banknote Company. Available in Orange $1,000, Blue $100, or Brown $5. Please specify color and denomination.
Michigan Sugar Company is an agricultural cooperative, based in Bay City, Michigan, that specializes in the processing of beet sugar. Founded in 1906, Michigan Sugar sells beet sugar under the brand names Big Chief and Pioneer.
Michigan Sugar operates four beet sugar factories, located in Bay City, Caro, Croswell, and Sebewaing, and operates three shipping and distribution centers in Michigan and the adjacent state of Ohio. The firm has a permanent employment headcount of 700 employees, to which are added 1,500 additional seasonal employees during the times of year when sugar beets are harvested and processed.
During much of its history, Michigan Sugar was a publicly traded, private-sector firm. It was later a subsidiary of Imperial Sugar; after the 2001 bankruptcy of its former parent firm, Michigan Sugar became a cooperative in February 2002. Since that time the cooperative has been owned by a consortium of more than 1,000 sugar beet farmers, mostly located in Michigan's Thumb, who grow beets for processing.
The company's Bay City sugar beet processing plant located on South Euclid Avenue produces an offensive odor which can be described as burnt peanut butter, or vomit. Many complaints are received every year on the basis of the smell, and it is alleged to have been getting worse. The plant is located on the Southwest side of town, and winds prevail from the West, so very regularly much of the Southeastern and Eastern residential areas are affected.
In 2004 the company settled with 3,800 families living near the plant for $1.75 million as the result of a class action lawsuit filed due to the offensive odor and pollution concerns.
In 2017 the Michigan Department of Environmental Quality sued the company over the complaints mostly related to odors. The suit was settled in 2019 with the result that Michigan Sugar would pay a $300,000 fine and support or create two environmental projects totaling $262,500.
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 firm’s products. These are usually marked "Specimen" and have no serial numbers.
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