1926 STUDEBAKER MAIL ORDER CO. Stock Cert. Signed by George Studebaker! RARE

Description

This auction is for:
1926 Studebaker Mail Order Company Stock Certificate
Certificate is hand-signed by George Studebaker, a member of the famed Studebaker Car family! Also, Clement Studebaker III was an officer of this company as well. The company was formed to as a holding company for the South Bend Watch Company, the Studebaker Watch Company and the Studebaker Watch Company of Canada, all held by the Studebaker automobile family. Orange, 20 share certificate issued to Katherine Quinlan on Feb. 15, 1926. Very rare and scarce stock!
The story of the South Bend Watch Company begins to unfold in 1876 when Detrich Gruen and some other enterprising craftsmen organized the Columbus (Ohio) Watch Manufacturing Company, later to be known as the Columbus Watch Company. This firm was successful for 17 years but in 1902, for reasons unknown, it was sold. The purchase was promoted by three Studebaker brothers: George, Clement, Jr., and J.M., who were sons of Clement, one of the five famous Studebakers who founded the wagon and car business. The business was moved to South Bend, and the name American National Watch Company was first proposed but logically the name South Bend Watch Company was finally chosen. Personal notes were given by the Studebaker brothers for the acquisition.
The new firm was organized June 1902 and a site chosen on the 24
th
of that month. Incorporation under the laws of New Jersey is dated July 24, 1902, with a capital stock of 2,000. Management consisted of Clement, Jr., President; M.V. Beiger, Vice President; Irving A. Sibley, Treasurer; and E.A. Bazzett, General Manager and Secretary. In addition to these men the following were on the board of directors: H.H. Gross, F.S. Fish, William Reel, Frederick Lazarus, Charles W. Haldy, Albert O. Glock and Charles Clie.
A beautiful factory was built on a ten-acre tract of land in the River Park Suburb of South Bend at 1706-1720 Mishawaka Avenue, about half-way between South Bend and Mishawaka. The building to house the new firm was three stories, of fireproof construction and measure 60 feet wide by 450 feet long. Construction started August 1902 and was under the supervision of H.D. Johnson. Large fireproof vaults were installed in each department and the factory was equipped with automatic sprinklers. Separate buildings were constructed for the dial and gilding and the boiler room. The building site was purchased from J.M. Studebaker, Sr.
According to
The South Bend Tribune
issue of March 29, 1903, President Clement Studebaker pushed an ivory-tipped button at 10:00 a.m. the previous day, sending an electric impulse through the new million dollar plant. A group of 145 workers, mostly German watchmakers, had moved from Columbus, Ohio, to help produce the new watch that later was to reach a production of 60,000 watches per year.
Clement Studebaker died sometime before 1910 and his wife shortly after. Their heirs were George and Clement, Jr., who later became important members in the firm, and a sister, Mrs. Carlisle. By 1910, J.M. Studebaker had acquired over 50% of the stock and with the death of Clement, total management responsibilities passed to him. J.M. died about 1918 and Mr. Witwer, a nephew, was appointed executor of the estate. At this time the interests of Witwer and J.M. Studebaker were sold to George and Clement, Jr.
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RETURNS AND GUARANTEE
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Buyer satisfaction and authenticity of certificate is guaranteed – returns are accepted with 14 days of purchase (buyer pays return shipping cost unless item received is not as described in this listing).
All certificates are originals, I do not sell reproductions. Stocks may have pinholes, tears, etc. Certificate shown is exact certificate you will receive, we don't use stock photos. Stock certificates may give paper cuts, use care when handling. Stock certificates are sold as collectibles only, no actual market value is to be expected.