Montana Power Co. - 1960-80's dated Energy Utility Stock Certificate

Stock printed by American Bank Note Company. The Montana Power Company (MPC) was an electric utility firm located in Butte, Montana, serving both residential and industrial customers from 1912 until 1997. Established in 1912 by John D. Ryan, who was then the president of Anaconda Copper Mining Company, MPC emerged from the consolidation of various hydroelectric facilities throughout Montana. In the 1960s, a division occurred when Anaconda Co. opposed a proposed rate increase by MPC. In 1959, MPC acquired coal mining rights in Colstrip, Montana, intending to construct coal-fired power generation plants. After successfully developing four such plants, MPC sold its Colstrip facilities in the autumn of 1997 to PP&L Resources for $759 million, while the remaining power operations were transferred to Northwestern Energy.

With the onset of utility deregulation in the 1990s, Montana Power transitioned into a telecommunications entity by 2001, rebranding as Touch America Holdings, and began to divest its utility and energy assets. The company established an extensive fiber optics network spanning 21,000 miles (34,000 km) but faced significant financial challenges during the dot-com bust in the early 2000s. Touch America sought Chapter 11 bankruptcy protection in 2003, subsequently selling its infrastructure to 360networks and planning to liquidate remaining assets to mitigate shareholder lawsuits. Legal disputes regarding the company's assets persisted until early 2013, culminating in a settlement that offered shareholders 29 cents per share, a stark contrast to the shares' previous value of $65.