STOCKS & BONDS

LOT #376

 1922, New York. Stock certificate for 500 shares of Imports Advancement Corporation. Blue\Black.

Issued to and signed on verso by DANIEL GUGGENHEIM (1856-1930), b. Philadelphia, was largely responsible for combining (1901) the Guggenheim interests with the American Smelting and Refining Company, of which he became president. The Daniel and Florence Guggenheim Foundation, devoted to aeronautical research and development, represents his principal philanthropy. Although Daniel Guggenheim, died without ever having flown, even as a passenger, his legacy remains active today. Between 1925 and 1930, he put more than $3.3 million (in 1930s dollars) into a series of aviation-related initiatives which led to the development of more reliable aircraft engines and instruments, and, perhaps most important, public acceptance of aviation as a safe and fast method of transportation. A number of tax stamps have been affixed on the back of the certificate. Punch cancellations do not affect Guggenheims signature on verso. This is only the second certificate we’ve handled signed by this elusive and important American financier in over 15 years. A very rare opportunity to acquire this highly desirable autograph to a financial collection.                                                                $1,250 - up

(color scan available upon request)