Insull Utilities Investment Inc.

Insull Utilities Investment Inc. was a corporation securities firm based in Chicago, Illinois which became insolvent in 1932.^[1] It was formed in December 1928 with assets of $23,000,000 to $24,000,000.^[2] The firm was started by Samuel Insull, a former president of Chicago Edison,^[3] Commonwealth Edison,^[4] People's Gas Light & Coke Company,^[5] and Central Indiana Power Company.^[6] He was also chairman of the Corporation Securities Company of Chicago, which had a net worth of more than $80,000,000 on February 15, 1930.^[7] The latter business was created to acquire securities of Insull Utilities Investments and other Insull operating and holding companies.^[8]

Attorneys for Insull Utilities Investment's creditors filed a suit in a US district court in Danville, Illinois on September 22, 1932.^[1] The failure of the corporation is significant because it came during the Great Depression, and its founder was a leading businessman in Chicago. The 73-year-old financier planned another venture into public utility financing following the collapse of Insull Utilities Investment Inc.^[9]